REQUEST FOR PROPOSALS TO PROVIDE LOAN by The University of North Carolina at Wilmington

February 10, 2011 The University of North Carolina at Wilmington (“UNCW”) requests proposals to provide a loan to UNCW. UNCW is undertaking two projects, aggregating approximately $13,250,000: (a) renovations of UNCW Housing System residence halls, Schwartz Hall and University Suites and (b) renovation of the Wagoner Hall Dining System facility. UNCW expects to borrow up to $9,000,000 for these projects and use its own funds to make up the balance of the costs. The loan will be paid from Available Funds of UNCW, defined to include: any legally available funds of UNCW, or of the Board held for UNCW, in each Fiscal Year remaining after satisfying obligations of UNCW or the Board under a trust indenture, trust agreement or bond resolution providing for the issuance of debt of the Board with respect to UNCW as of May 1, 2002, including Unrestricted Fund Balances shown as such on the UNCW financial statements, but excluding (1) appropriations by the General Assembly of the State from the State General Fund, (2) tuition payments to UNCW, (3) funds whose purpose has been restricted by the gift, grant or payee thereof, (4) revenues generated by Special Facilities and (5) funds restricted by law. The loan will be in the form of the purchase of a General Revenue Bond (the “Bond”) issued under UNCW’s existing General Trust Indenture and a Series Indenture. The Bond will be a parity obligation with existing General Revenue Bonds issued on behalf of UNCW. The Board of Trustees of UNCW has approved the issuance of the Bond, and the Board of Governors of the University of North Carolina (the “Board”) is expected to approve the financing at its February 11, 2011 meeting. Currently UNCW has $110,805,000 of debt outstanding in bonds that will be parity obligations with the Bond (the “Parity Obligations”). UNCW also has $131,777,000 of capital lease obligations payable from other available sources and from Available Funds after the payment of the Parity Obligations. Available Funds, calculated on the basis of the unaudited financial statements for the fiscal year ended June 30, 2010, were $ 86,909,253. UNCW expects to actually pay debt service on the Bond from the portion of its Available Funds constituting housing revenues and dining revenues. UNCW’s audited financial statements for the fiscal year ended June 30, 2009 are available at The University’s unaudited FY 2010 statements are available at UNCW RESERVES THE RIGHT TO REJECT ANY AND ALL PROPOSALS,

To be considered, three hard copies of the proposal and an email copy including a pdf signature must be received by 12:00 p.m. on Tuesday, February 23, 2011 at: Dr. Rick Whitfield Associate Vice Chancellor for Business Affairs – Finance UNC Wilmington 601 South College Road Wilmington NC 28403-5918 and

UNCW desires a term of 15 years with level principal and interest payments.000. Scott Leo at (704) 335-9858 or Don Ubell at (704) 335-9024 or to the financial advisor. 1. please email a copy of your proposal to each of the following: Financial Advisor Ms.Burke@firstsw. donubell@parkerpoe. Interest rate bid is to be fixed throughout the term of the loan. (3) an investment company registered under the Investment Company Act of 1940 (the “1940 Act”). Interest is first to be payable on September 1. Ubell Parker Poe Adams & Bernstein LLP scottleo@parkerpoe. 2. Interest is to be computed on the basis of a 360-day year of 12 thirty-day months.In addition.000.000 at the quoted interest rate. UNCW will entertain a proposal (a) under which the Bond is placed with the originating financial institution or another financial institution on behalf of the proposer or (b) under which the loan is participated to those who certify that they are either (1) a bank as defined in Section 3(a)(2) of the Securities Act of 1993 (the “1933 Act”). 2011 or before. Leo. Questions may be addressed to bond counsel. The proposer should identify all costs expected to be borne by UNCW in this financing other than the fee of bond counsel or the fee of the financial advisor. The advance will be deposited with the State Treasurer’s Short-Term Investment Fund pending disbursement. Closing of the loan is preferred to be March 9. Donald P. 5. The entire amount is to be advanced when the Bond is issued. Janice Burke FirstSouthwest Bond Counsel Scott E. Parker Poe Adams & Bernstein LLP will draft all documents and provide a validity opinion and an opinion as to the treatment of the interest on the loan under federal tax law at UNCW’s expense. 2. 2 . The proposer must agree to hold its interest rate schedule for 45 days and agree to loan up to $ (4) a registered investment advisor purchasing the obligation for inclusion is the portfolio of an investment company registered under the 1940 Act or (5) another “accredited investor” as defined in Regulation D of the United States Securities and Exchange Commission. Principal is to be payable on March 1. 3. 2011. 2. THE BOND WILL NOT CODE OF 1986. The proposal should address the following points: 1.000. BE QUALIFIED UNDER SECTION 265 OF THE INTERNAL REVENUE 1. Please provide provisions related to UNCW’s right to redeem the Bond prior to its maturity. Janice Burke (704) 975-6555. AS AMENDED. (2) an insurance company within the meaning of Section 2(13) of the 1933 Act. Assume total principal to be advanced is to be $9.