Common use of DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES Clause in Contracts

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 15 contracts

Samples: And Security Agreement (Consolidated Capital Institutional Properties 2), And Security Agreement (National Property Investors 4), Security Agreement (Consolidated Capital Institutional Properties 3)

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DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, at any time upon notice to Borrower.

Appears in 12 contracts

Samples: And Security Agreement (Bluerock Enhanced Multifamily Trust, Inc.), And Security Agreement (Davidson Income Real Estate Lp), And Security Agreement (VMS National Properties Joint Venture)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 8 contracts

Samples: And Security Agreement (Behringer Harvard Opportunity REIT II, Inc.), And Security Agreement (Behringer Harvard Multifamily Reit I Inc), And Security Agreement (NTS Realty Holdings Lp)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, at any time upon notice to Borrower.

Appears in 6 contracts

Samples: Rents and Security Agreement (Wellsford Real Properties Inc), And Security Agreement (Krupp Realty LTD Partnership Vii), Security Agreement (Secured Investment Resources Fund Lp Iii)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Xxxxxx. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx's discretion, at any time upon notice to Xxxxxxxx.

Appears in 5 contracts

Samples: And Security Agreement, And Security Agreement, Security Agreement

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 5 contracts

Samples: And Security Agreement (NTS Realty Holdings Lp), And Security Agreement (NTS Realty Holdings Lp), And Security Agreement (NTS Realty Holdings Lp)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [[ N/AA ] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 5 contracts

Samples: And Security Agreement (Angeles Income Properties LTD 6), And Security Agreement (Angeles Income Properties LTD 6), And Security Agreement (Consolidated Capital Institutional Properties 3)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred[ Collect ] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred[ Collect ] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [[ N/AA ] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 4 contracts

Samples: Security Agreement (Grubb & Ellis Apartment REIT, Inc.), Security Agreement (Grubb & Ellis Apartment REIT, Inc.), And Security Agreement (Grubb & Ellis Apartment REIT, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." IMPOSITION DEPOSITS". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." IMPOSITIONS". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, at any time upon notice to Borrower.

Appears in 4 contracts

Samples: And Security Agreement (Vinings Investment Properties Trust/Ga), And Security Agreement (Vinings Investment Properties Trust/Ga), And Security Agreement (Alterra Healthcare Corp)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, 19 [DeferredCollect] Taxes, Taxes [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), ) [N/A] ground rents, rents [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 3 contracts

Samples: And Security Agreement (Emeritus Corp\wa\), And Security Agreement (Emeritus Corp\wa\), And Security Agreement (Emeritus Corp\wa\)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredCollect] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 3 contracts

Samples: And Security Agreement (Secured Investment Resources Fund Lp Ii), And Security Agreement (Paladin Realty Income Properties Inc), And Security Agreement (Maxus Realty Trust Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredCollect] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 3 contracts

Samples: Rents and Security Agreement (Grubb & Ellis Apartment REIT, Inc.), And Security Agreement (Paladin Realty Income Properties Inc), Security Agreement (Bluerock Enhanced Multifamily Trust, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." IMPOSITION DEPOSITS". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." IMPOSITIONS". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, at any time upon notice to Borrower.

Appears in 3 contracts

Samples: Rents and Security Agreement (Sunrise Assisted Living Inc), Rents and Security Agreement (Sunrise Assisted Living Inc), And Security Agreement (Wellsford Real Properties Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 2 contracts

Samples: And Security Agreement (Emeritus Corp\wa\), And Security Agreement (Emeritus Corp\wa\)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing If requested by Lender, which waiver may be contained in this Section 7(a)Lender but only if an Event of Default exists, Borrower shall deposit with Lender on the day monthly installments of principal or and/or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (i) to the extent applicable, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] yearly water and sewer charges which may be levied on all or any part of the Mortgaged Property, (that could become a lien ii) the premiums for fire and other hazard insurance, business interruption insurance and such other insurance as Lender may require under the Loan Agreement, (iii) the yearly Taxes, and (iv) amounts for other charges and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to Synovus/CHT Acworth GA Owner, LLC 22996-41 in this Security Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Security Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being addedadded plus one-sixth of such estimate. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxesproperty taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender’s discretion, at any time upon notice to Borrower.

Appears in 2 contracts

Samples: Secure Debt and Security Agreement, Secure Debt and Security Agreement (CNL Healthcare Trust, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredCollect] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, 19 [DeferredCollect] Taxes, Taxes or payments in lieu of taxes (PILOT) [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), ) [N/A] ground rents, rents [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 2 contracts

Samples: And Security Agreement (Behringer Harvard Opportunity REIT II, Inc.), And Security Agreement (Paladin Realty Income Properties Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ”. The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender’s discretion, at any time upon notice to Borrower.

Appears in 2 contracts

Samples: Security Agreement (Behringer Harvard Multifamily Reit I Inc), Mortgage and Security Agreement (Emeritus Corp\wa\)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing If requested by Lender, which waiver may be contained in this Section 7(a)Lender but only if an Event of Default exists, Borrower shall deposit with Lender on the day monthly installments of principal or and/or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (i) to the extent applicable, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] yearly water and sewer charges which may be levied on all or any part of the Mortgaged Property, (that could become a lien ii) the premiums for fire and other hazard insurance, business interruption insurance and such other insurance as Lender may require under the Loan Agreement, (iii) the yearly Taxes, and (iv) amounts for other charges and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Security Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Security Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being addedadded plus one-sixth of such estimate. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxesproperty taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender’s discretion, at any time upon notice to Borrower.

Appears in 2 contracts

Samples: Mortgage and Security Agreement, Mortgage and Security Agreement (CNL Healthcare Trust, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Xxxxxx's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Xxxxxx, plus one- sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx's discretion, at any time upon notice to Xxxxxxxx.

Appears in 1 contract

Samples: Replacement Reserve Agreement

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [DeferredN/A] water and sewer charges (that could become a lien on the Mortgaged Property), [N/ADeferred] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Consolidated Capital Institutional Properties)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower Grantor shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Xxxxxx's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower Grantor for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Grantor for which Imposition Deposits are required. Any waiver by Xxxxxx of the requirement that Grantor remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx's discretion, at any time upon notice to Grantor.

Appears in 1 contract

Samples: Security Agreement and Fixture (Brookdale Living Communities Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument Mortgage as the "Imposition Deposits." ”. The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument Mortgage as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx’s discretion, at any time upon notice to Xxxxxxxx.

Appears in 1 contract

Samples: And Security Agreement

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Xxxxxx, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." IMPOSITION DEPOSITS". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." IMPOSITIONS". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx's discretion, at any time upon notice to Xxxxxxxx.

Appears in 1 contract

Samples: Roberts Realty Investors Inc

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredWaived] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, 19 [DeferredCollect] Taxes, Taxes [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), ) [N/A] ground rents, rents [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Preferred Apartment Communities Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Steadfast Income REIT, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderLxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderLxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. Freddie Mac Loan No. 504111949 Wxxxx at Exxx Xxxx [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Emeritus Corp\wa\)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by From and after any monetary Event of Default at Lender, which waiver may be contained in this Section 7(a’s option (upon prior written notice to Borrower), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ”. The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender from and after a monetary Event of Default may be revoked by Lender, in Lender’s discretion, at any time upon notice to Borrower.

Appears in 1 contract

Samples: Leases and Security Agreement (Steadfast Income REIT, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Century Properties Fund Xiv)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition (that could become a lien 01-23-02) PN 340 RD Instruction 2000-OOO Exhibit A Page 54 of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Xxxxxx's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Xxxxxx, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx's discretion, at any time upon notice to Xxxxxxxx.

Appears in 1 contract

Samples: Replacement Reserve Agreement

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderLxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderLxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender Lxxxxx are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Rents and Security Agreement and Fixture Filing (Capital Senior Living Corp)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. XXXXXX XXX MULTIFAMILY SECURITY INSTRUMENT - Form 4019 11/01 Page 10 LOUISIANA Ó 1997-2001 Xxxxxx Mae Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, at any time upon notice to Borrower.

Appears in 1 contract

Samples: And Security Agreement (VMS National Properties Joint Venture)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Consolidated Capital Properties Iv)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." IMPOSITION DEPOSITS". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." IMPOSITIONS". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lendxx, xx Lendxx'x xiscretion, at any time upon notice to Borrxxxx.

Appears in 1 contract

Samples: Arv Assisted Living Inc

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender’s discretion, at any time upon notice to Borrower.

Appears in 1 contract

Samples: And Security Agreement (Maxus Realty Trust Inc.)

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DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] A ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Roberts Realty Investors Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredCollect] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), ____________________________________________________________________________________________________________________________________________ Multifamily - For Use with Electronic Mortgage Documents (8/13/2004) [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Assumption Agreement (Maxus Realty Trust Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Century Properties Fund Xiv)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Assumption Agreement (KBS Legacy Partners Apartment REIT, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last XXXXXX XXX MULTIFAMILY SECURITY INSTRUMENT - Form 4004 11/01 ARKANSAS Ó 1998-2001 Xxxxxx Mae date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, at any time upon notice to Borrower.

Appears in 1 contract

Samples: And Security Agreement (VMS National Properties Joint Venture)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender Xxxxxx are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Emeritus Corp\wa\)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredCollect] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement and Fixture Filing (Cornerstone Healthcare Plus Reit, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Defer Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Defer Taxes, [Deferred] Defer water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] A ground rents, [Deferred] Defer assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Century Properties Fund Xvii)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [ground rents [ N/AA ] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (National Property Investors Iii)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ”. The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Xxxxxx, in Xxxxxx’s discretion, at any time upon notice to Xxxxxxxx.

Appears in 1 contract

Samples: And Security Agreement (America First Apartment Investors Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred[ Collect ] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred[ Collect ] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [[ N/AA ] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Behringer Harvard Opportunity REIT II, Inc.)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, 19 [DeferredCollect] Taxes, Taxes [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), ) [N/A] ground rents, rents [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Preferred Apartment Communities Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is a. Except as otherwise provided in the NLRP Permanent Loan Documents, unless waived in writing by Permanent Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Permanent Lender on the day monthly installments of principal or interest, or both, are due under the NLRP Note (or on another day designated in writing by Permanent Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Permanent Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Permanent Lender may require under Section 19, [Deferred] (3) Taxes; (4) replacement reserves in the amount of $ N/A per month, [Deferred] water or $ N/A during the first year of operation of the Project; and sewer (5) amounts for other charges (that could become a lien and expenses which Permanent Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Permanent Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Permanent Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument NLRP Mortgage as the "Imposition Deposits." ”. The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument NLRP Mortgage as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Permanent Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Permanent Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Permanent Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Permanent Lender of the requirement that Borrower remit Imposition Deposits to Permanent Lender may be revoked by Permanent Lender, in Permanent Lender’s discretion, at any time upon notice to Borrower.

Appears in 1 contract

Samples: www.lhc.la.gov

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, scheduled payments and deposits are due under the Note Reimbursement Agreement (or on another day designated in writing by Lender), until such time as the Lender’s obligations under the Credit Enhancement Agreement are terminated, the Indebtedness is paid in fullfull or otherwise discharged, and the Reimbursement Agreement has terminated, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred_______] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred_______] Taxes, [Deferred_______] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A_______] ground rents, [Deferred_______] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: mf.freddiemac.com

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is a. Except as otherwise provided in the RRDP Permanent Loan Documents, unless waived in writing by Permanent Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Permanent Lender on the day monthly installments of principal or interest, or both, are due under the RRDP Note (or on another day designated in writing by Permanent Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Permanent Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Permanent Lender may require under Section 19, [Deferred] (3) Taxes; (4) replacement reserves in the amount of $ N/A per month, [Deferred] water or $ N/A during the first year of operation of the Project; and sewer (5) amounts for other charges (that could become a lien and expenses which Permanent Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Permanent Lender’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Permanent Lender. The amounts deposited under the preceding sentence are collectively referred to in this Instrument RRDP Mortgage as the "Imposition Deposits." ”. The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument RRDP Mortgage as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Permanent Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Permanent Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Permanent Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Permanent Lender of the requirement that Borrower remit Imposition Deposits to Permanent Lender may be revoked by Permanent Lender, in Permanent Lender’s discretion, at any time upon notice to Borrower.

Appears in 1 contract

Samples: www.lhc.la.gov

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lender, plus one-sixth of such xxxxxxte. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." ". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." ". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lender, in Lender's discretion, xx xxy timx xxxx notice to Borrower.

Appears in 1 contract

Samples: And Security Agreement (Krupp Realty LTD Partnership V)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower Trustor shall deposit with Lender Beneficiary on the day monthly installments of principal or and/or interest, or both, are due under the Note (or on another day designated in writing by LenderBeneficiary), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender Beneficiary the entire sum required to pay, when duedue (i) to the extent applicable, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] yearly water and sewer charges which may be levied on all or any part of the Mortgaged Property, (that could become a lien ii) the premiums for fire and other hazard insurance, business interruption insurance and such other insurance as Beneficiary may require under the Loan Agreement, (iii) the yearly Taxes, and (iv) amounts for other charges and expenses which Beneficiary at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Beneficiary’s interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Beneficiary, plus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Security Instrument as the "Imposition Deposits." ”. The obligations Indebtedness of Borrower Trustor for which the Imposition Deposits are required are collectively referred to in this Security Instrument as "Impositions." ”. The amount of the Imposition Deposits shall be sufficient to enable Lender Beneficiary to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being addedadded plus one-sixth of such estimate. Lender Beneficiary shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender Beneficiary are held for the purpose of paying Taxesproperty taxes, insurance premiums and each other obligation of Trustor for which Imposition Deposits are required. Any waiver by Beneficiary of the requirement that Trustor remit Imposition Deposits to Beneficiary may be revoked by Beneficiary, in Beneficiary’s discretion, at any time upon notice to Trustor. Imposition Deposits shall be held in an institution (which may be Beneficiary, if Beneficiary is such an institution) whose deposits or accounts are insured or guaranteed by a federal agency. Beneficiary shall not be obligated to open additional accounts or deposit Imposition Deposits in additional institutions when the amount of the Imposition Deposits exceeds the maximum amount of the federal deposit insurance or guaranty. Beneficiary shall apply the Imposition Deposits to pay Impositions so long as no Event of Default has occurred and is continuing. Unless applicable law requires, Beneficiary shall not be required to pay Trustor any interest, earnings or profits on the Imposition Deposits. Trustor hereby pledges and grants to Beneficiary a security interest in the Imposition Deposits as additional security for all of Trustor’s Indebtedness under this Security Instrument and the other Loan Documents. Any amounts deposited with Beneficiary under this Section 4 shall not be trust funds, nor shall they operate to reduce the Indebtedness, unless applied by Beneficiary for that purpose under Section 4(e). Trustor shall direct the applicable Governmental Authority to deliver the invoices and bills for all Impositions to Beneficiary. If Beneficiary receives a xxxx or invoice for an Imposition, Beneficiary shall pay the Imposition from the Imposition Deposits held by Beneficiary. Beneficiary shall have no obligation to pay any Imposition to the extent it exceeds Imposition Deposits then held by Beneficiary. Beneficiary may pay an Imposition according to any xxxx, statement or estimate from the appropriate public office or insurance company without inquiring into the accuracy of the xxxx, statement or estimate or into the validity of the Imposition. If at any time the amount of the Imposition Deposits held by Beneficiary for payment of a specific Imposition exceeds the amount reasonably deemed necessary by Beneficiary plus one-sixth of such estimate, the excess shall be credited against future installments of Imposition Deposits. If at any time the amount of the Imposition Deposits held by Beneficiary for payment of a specific Imposition is less than the amount reasonably estimated by Beneficiary to be necessary plus one-sixth of such estimate, Trustor shall pay to Beneficiary the amount of the deficiency within fifteen (15) days after notice from Beneficiary. If an Event of Default has occurred and is continuing, Beneficiary may apply any Imposition Deposits, in any amounts and in any order as Beneficiary determines, in Beneficiary’s discretion, to pay any Impositions or as a credit against the Indebtedness. Upon payment in full of the Indebtedness, Beneficiary shall refund to Trustor any Imposition Deposits held by Beneficiary.

Appears in 1 contract

Samples: Fixture Filing and Security Agreement (Arv Assisted Living Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/ANA] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (Paladin Realty Income Properties Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderLxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderLxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [DeferredCollect] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: And Security Agreement (NTS Realty Holdings Lp)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by Lender, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when duedue (1) any water and sewer charges which, if not paid, may result in a lien on all or any part of the items marked "Collect" below. Lender will not require Mortgaged Property, (2) the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or for fire and other hazard insurance, rent loss insurance and such other insurance premiums required by as Lender may require under Section 19, [Deferred] (3) Taxes, [Deferred] water and sewer (4) amounts for other charges (that could become a lien and expenses which Lender at any time reasonably deems necessary to protect the Mortgaged Property, to prevent the imposition of liens on the Mortgaged Property), [N/A] ground rentsor otherwise to protect Lender's interests, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) all as reasonably estimated from time to time by Lendxx, xxus one-sixth of such estimate. The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." IMPOSITION DEPOSITS". The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." IMPOSITIONS". The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Impositionobligation of Borrower for which Imposition Deposits are required. Any waiver by Lender of the requirement that Borrower remit Imposition Deposits to Lender may be revoked by Lendxx, xx Lendxx'x xiscretion, at any time upon notice to Borrxxxx.

Appears in 1 contract

Samples: And Security Agreement (Roberts Realty Investors Inc)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by Lender), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [Deferred] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Subordination and Intercreditor Agreement (Century Properties Fund Xvii)

DEPOSITS FOR TAXES, INSURANCE AND OTHER CHARGES. (a) Unless this requirement is waived in writing by LenderXxxxxx, which waiver may be contained in this Section 7(a), Borrower shall deposit with Lender on the day monthly installments of principal or interest, or both, are due under the Note (or on another day designated in writing by LenderXxxxxx), until the Indebtedness is paid in full, an additional amount sufficient to accumulate with Lender the entire sum required to pay, when due, the items marked "Collect" below. Lender will not require the Borrower to make Imposition Deposits with respect to the items marked "Deferred" below. [DeferredCollect] Hazard Insurance premiums or other insurance premiums required by Lender under Section 19, [Collect] [Deferred] [N/A] [Deferred] Taxes, [Deferred] water and sewer charges (that could become a lien on the Mortgaged Property), [N/A] ground rents, [Deferred] assessments or other charges (that could become a lien on the Mortgaged Property) The amounts deposited under the preceding sentence are collectively referred to in this Instrument as the "Imposition Deposits." The obligations of Borrower for which the Imposition Deposits are required are collectively referred to in this Instrument as "Impositions." The amount of the Imposition Deposits shall be sufficient to enable Lender to pay each Imposition before the last date upon which such payment may be made without any penalty or interest charge being added. Lender shall maintain records indicating how much of the monthly Imposition Deposits and how much of the aggregate Imposition Deposits held by Lender are held for the purpose of paying Taxes, insurance premiums and each other Imposition.

Appears in 1 contract

Samples: Security Agreement (Steadfast Income REIT, Inc.)

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