NOTICE OF PUBLIC HEARING BY THE NORTH CAROLINA MEDICAL CARE COMMISSION REGARDING THE FINANCING AND REFINANCING OF RETIREMENT FACILITIES WITH THE PROCEEDS OF TAX-EXEMPT BONDS NOTICE IS HEREBY GIVEN to all interested persons that the North Carolina Medical Care Commission (the "Commission") has been requested to issue its revenue bonds in an aggregate principal amount not to exceed $34,160,000 (the "Bonds"), in one or more issues or series from time to time, for the purpose of making a loan to The Chapel Hill Residential Retirement Center, Inc., a North Carolina nonprofit corporation, doing business as Carol Woods (the "Corporation"), the proceeds of which will be applied, together with other available funds, to: (a) Finance the costs of renovating, expanding and improving the Corporation's existing continuing care retirement community located at 750 Weaver Dairy Road, Chapel Hill, North Carolina 27514, including, but not limited to, (i) constructing, upgrading and renovating plumbing, stormwater and sewer infrastructure improvements, (ii) renovating, expanding and modernizing the existing dining and kitchen facilities, (iii) installing new elevators for existing buildings, (iv) upgrading and renovating HVAC infrastructure, (v) upgrading and renovating outdoor landscaping, and (vi) making other routine capital improvements (collectively, the "Project"); (b) Refinance certain existing indebtedness incurred to finance a portion of the costs of the Project; (c) Fund a debt service reserve fund, if necessary; and (d) Finance certain expenses incurred in connection with the issuance of the Bonds. The Project will be owned and operated by the Corporation. The maximum principal amount of the Bonds to be issued is $34,160,000. The Bonds will be qualified 501(c)(3) bonds as defined in Code Section 145. Please take notice that the Assistant Secretary of the Commission will hold a public hearing in Conference Room L2-02210 at 1915 Health Services Way, Raleigh, North Carolina, 27607, on September 29, 2025, at 1:00 P.M., at which time any person may be heard regarding the issuance of the Bonds. Any person wishing to comment in writing on the issuance of the Bonds should do so, within seven (7) days after the date of publication of this notice, to Mr. Geary W. Knapp, Assistant Secretary, North Carolina Medical Care Commission, 1915 Health Services Way, Raleigh, North Carolina 27607. NORTH CAROLINA MEDICAL CARE COMMISSION By: Geary W. Knapp, Assistant Secretary IPL0273079 Sep 22 2025