Borrower’s Funds Account. If Lender requires Borrower to use Borrower’s own funds to pay any acquisition or construction costs, Lender may require Borrower to fund a Borrower’s Deposit (defined in Section 4.1 below) with Lender. Lender’s failure to require Borrower to make such deposit shall not relieve Borrower of the responsibility to pay any portion of the Total Cost that is not paid out of the Loan Proceeds.
Appears in 4 contracts
Samples: Loan Agreement (LGI Homes, Inc.), Loan Agreement (LGI Homes, Inc.), Loan Agreement (LGI Homes, Inc.)
