Common use of Deposits of Tax Funds Clause in Contracts

Deposits of Tax Funds. Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. (a) Subject to paragraph (b) below, Borrower shall deposit with Lender the Paying Agent (i) on or before the Closing Date, an amount equal to Borrower’s estimate (and as approved by the Administrative Agent) of the Property Taxes which will be payable during the period commencing on the Closing Date and ending on the next succeeding Payment Date with respect to all Properties financed pursuant to this Agreement on the Closing Date and (ii) on each Monthly Payment Date, an amount equal to one-twelfth (1/12) of the Property Taxes that Lender reasonably Administrative Agent estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000)months, in order to accumulate sufficient funds to pay all such Property Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred into an Account (the “Tax Account”)Subaccount. Amounts deposited from time to time into the Tax Account Subaccount pursuant to this Section 6.3.1 6.1.1 are referred to herein as the “Tax Funds”. If at any time Lender Administrative Agent reasonably determines that the Tax Funds will not be sufficient to pay the Property Taxes, Lender Administrative Agent shall notify Borrower of such determination and and, commencing with the first Payment Date following Borrower’s receipt of such written notice, the monthly deposits for Property Taxes shall be increased by the amount that Lender reasonably Administrative Agent estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Property Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Property Taxes are due, Borrower will deposit with or on behalf of Lender Administrative Agent such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. During the continuance of a Trigger Period, Borrower shall shall, subject to Sections 6.9.2, and 6.3.3 hereof, deposit with Lender on or before each Monthly Payment Date, Date an amount equal to one-twelfth (1/12th) of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively respective dates the same shall become Due and Payable (the “Due Date” with respect to such applicable Taxes)delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the TaxesTaxes (taking into 90 account the monthly deposits of Tax Funds to be made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxesdates that such Taxes become delinquent; provided, that if Borrower receives notice from Lender of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes become delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within two three (23) Business Days after its receipt of such notice. For notice (provided that, if the avoidance of doubtTaxes will become delinquent in less than three (3) Business Days, to Borrower will deposit the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Yearamounts within one (1) Business Day).

Deposits of Tax Funds. Borrowers shall deposit with Lender the amount of Three Hundred Eighteen Thousand Eight Hundred Forty Three and 14/100 Dollars ($318,843.14) on the Closing Date, as to which the amount of Forty Seven Thousand Five Hundred Fifty Five and 38/100 Dollars ($47,555.38) shall be deemed deposited on behalf of Horizon Xxxxxxxx, the amount of One Hundred Thirty Nine Thousand Two Hundred Seventy Nine and 17/100 Dollars ($139,279.17) shall be deemed deposited on behalf of Horizon Medford, and the amount of One Hundred Thirty Two Thousand Eight and 59/100 Dollars ($132,008.59) shall be deemed deposited on behalf of Horizon Warrenton. On each Monthly Payment Date, each Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000)in respect of the Individual Property owned by such Borrower, in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred into an Account at Deposit Bank established to hold such funds (the “Tax Account”"TAX ACCOUNT"). Amounts deposited from time to time into the Tax Account pursuant to this Section SECTION 6.3.1 are referred to herein as the “Tax Funds”"TAX FUNDS". If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower Borrowers of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, that if Borrower receives Borrowers receive notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower Borrowers will deposit with or on behalf of Lender such amount within two three (23) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $68,062.00 for transfer to the Tax Account. Commencing on the Monthly Payment Date occurring in May 2014 and on each Monthly Payment Date thereafter Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. (a) During the continuance of a Trigger Period or an Event of Default, Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000166,775), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. During the continuance of a Trigger Period, Borrower shall shall, subject to Sections 6.3.3 hereof, deposit with Lender on or before each Monthly Payment Date, 119 Date an amount equal to one-twelfth (1/12th) of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively respective dates the same shall become Due and Payable (the “Due Date” with respect to such applicable Taxes)delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the TaxesTaxes (taking into account the monthly deposits of Tax Funds to be made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxesdates that such Taxes become delinquent; provided, that that, if Borrower receives notice from Lender of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes become delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within two three (23) Business Days after its receipt of such notice. For notice (provided, that, if the avoidance of doubtTaxes will become delinquent in less than three (3) Business Days, to Borrower will deposit the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Yearamounts within one (1) Business Day).

Deposits of Tax Funds. At all times during a Cash Sweep Period, Borrower shall deposit with Lender shall, pursuant to the Cash Management Agreement, make deposits on or before each Monthly Payment Date, Date in an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable with respect to the Property during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds” and the account in which such amounts are held shall hereinafter be referred to as Borrower’s “Tax Fund Reserve Account”. If at any time deposits are required to be made pursuant to this Section 6.2.1 and Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For Borrower has deposited with Lender on the avoidance date hereof the sum of doubt, $7,374,632.00 (the “Unassessed Tax Funds”) to be held in the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents Tax Fund Reserve Account and to be disbursed in accordance with Section 6.2.2 with respect to those portions of the terms Property which are currently not assessed for Taxes for the 2004/05 and 2005/06 tax years (the “Unassessed Property”). In the event that New York City fails to correctly calculate and bxxx the Borrower for real estate taxes with respect all or any portion of to the Unassessed Property within six (6) months from the date hereof, Borrower may replace the funds required Unassessed Tax Funds by delivering to be deposited into Lender a Qualified Letter of Credit and/or Qualified Guaranty (or any combination thereof) in an aggregate amount equal to the Unassessed Tax Account Funds or such other amount reasonably agreed to by Borrower Lender at which time Lender shall return the Unassessed Tax Funds, together with interest thereon, to Borrower. The Qualified Guaranty shall be appropriately reduced accompanied by a “bring down” of the Nonconsolidation Opinion. In no event shall the amount indemnified under the Alteration Indemnity and the amount guaranteed under any Qualified Guaranties, in the aggregate, at any time exceed $40,000,000.00. Upon payment of such Taxes for the remainder Unassessed Property, the balance of the Fiscal YearUnassessed Tax Funds, together with interest thereon, shall be returned to Borrower.

Deposits of Tax Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $73,122.80 for transfer to the Tax Account. Commencing on the Monthly Payment Date occurring in June 2013 and on each Monthly Payment Date thereafter Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. On the Closing Date, Borrower shall deposit with Lender the amount of $0 and, there shall be deposited on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable their respective due dates (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Monthly Tax AccountDeposit”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds”. .” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two five (25) Business Days after its receipt of such notice. For Notwithstanding the avoidance of doubtforegoing, Borrower shall not be required to make the extent that Monthly Tax Deposit as set forth above with respect to any Individual Property or Properties has been released from subject to a Brand Management Agreement, provided that, (i) Brand Manager pays Taxes directly to the Lien appropriate taxing authority, (ii) there is no event of default by Brand Manager under the Loan Documents in accordance with the terms hereofBrand Management Agreement, the funds required and (iii) Borrower provides Lender, or causes to be deposited into the Tax Account by provided to Lender, evidence of payment of such Taxes prior to delinquency. Borrower shall be appropriately reduced for immediately commence making all Monthly Tax Deposits relating to the remainder applicable Individual Property, as required by Lender pursuant to this Section 6.2.1, within five (5) days of the Fiscal Yearreceipt of notice from Lender of Borrower’s failure to comply with items (i), (ii), or (iii) above, and such failure is not cured within such five (5) day period, which such notice shall instruct Borrower, in such event, to immediately commence making all additional Monthly Tax Deposits.

Deposits of Tax Funds. On the Closing Date, Borrower shall deposit with Lender an amount equal to One Hundred Ten Thousand Eight Hundred Sixteen and 14/100 Dollars ($110,816.14) and, on or before each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds”. ” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the TaxesTaxes at least thirty (30) days prior to the respective due dates, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any such deficiency after the date that is ten thirty (1030) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two three (23) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. (a) During the continuance of a Trigger Period or an Event of Default, Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,0001,412,721), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. On each Monthly Payment Date Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds”. .” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two three (23) Business Days after its receipt of such notice. For Notwithstanding the avoidance foregoing, without waiving any of doubt, to the extent that any Individual Property or Properties has been released from the Lien Borrower’s obligations under the Loan Documents to pay Taxes, so long as Borrower pays all Taxes prior to the due date thereof without the addition of interest, fees or penalty, Lender agrees to defer its right under this Agreement and the other Loan Documents to require monthly deposits of Tax Funds with Lender at all times other than during a Cash Management Period. If (a) Borrower fails to pay all Taxes due with respect to the Property prior to the due date thereof without the addition of interest, fees or penalty, and to provide Lender with evidence reasonably satisfactory to Lender thereof, or (b) a Cash Management Period occurs, and until a Cash Management Period Termination Event occurs, then in addition to Lender’s other remedies under applicable law and under the Loan Documents, Borrower shall immediately commence making monthly deposits of Tax Funds in an amount determined by Lender in accordance with this Section 6.2.1 for such purpose pursuant to the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearCash Management Agreement.

Deposits of Tax Funds. Borrower shall deposit or cause to be deposited with or on behalf of Lender (a) on or before the Closing Date, the amount of Two Hundred Forty Nine Thousand Forty Five and 78/100 Dollars ($249,045.78) and (b) on each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower in writing of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives written notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. Borrower shall deposit with Lender or Servicer on behalf of Lender (or before cause to be deposited with Lender or Servicer pursuant to the Cash Management Agreement), on each Monthly Payment DateDate during the continuance of a Cash Management Sweep Period, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to their respective due dates, provided, however, Borrower shall not be required to reserve amounts with Lender that are paid directly by a Tenant under a Lease that is in full force and effect with no event of default by the date they respectively become Due and Payable Tenant continuing thereunder (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”as determined on a Lease by Lease basis). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents The Tax Funds shall be held in accordance with the terms hereof, the funds required to be deposited into the Tax Reserve Account by Borrower (as defined in the Cash Management Agreement), which shall be appropriately reduced for the remainder of the Fiscal Yearan Interest Bearing Account.

Deposits of Tax Funds. During the continuance of a Trigger Period, Borrower shall shall, subject to Sections 6.10.2, and 6.3.3 hereof, deposit with Lender on or before each Monthly Payment Date, Date an amount equal to one-twelfth (1/12th) of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively respective dates the same shall become Due and Payable (the “Due Date” with respect to such applicable Taxes)delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the TaxesTaxes (taking into account the monthly deposits of Tax Funds to be made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxesdates that such Taxes become delinquent; provided, that if Borrower receives notice from Lender of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes become delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within two three (23) Business Days after its receipt of such notice. For notice (provided that, if the avoidance of doubtTaxes will become delinquent in less than three (3) Business Days, to Borrower will deposit the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Yearamounts within one (1) Business Day).

Deposits of Tax Funds. (a) During the continuance of a Trigger Period or an Event of Default, Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000)months, in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, assuming subsequent monthly deposits in accordance herewith, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxes, Borrower will deposit with or on behalf of Lender such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. Borrower Pursuant to the Cash Management Agreement, upon the occurrence of an Escrow Reserve Trigger Event and during the continuance of an Escrow Reserve Period, there shall deposit be deposited with Lender Agent on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1, together with interest earned thereon, are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For Once any Escrow Reserve Period has ended and no other Escrow Reserve Period then exists, all Tax Funds on deposit shall be promptly returned to Borrower on or before the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents following Monthly Payment Date. The Tax Funds shall be held in an interest-bearing account and invested in Permitted Investments in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearCash Management Agreement.

Deposits of Tax Funds. At any such time that Manager either (x) does not reserve for or otherwise set aside and pay Taxes or (y) is not Current Manager or a Pre-Approved Manager, Lender shall direct Servicer to transfer from the Cash Management Deposit Account (or if there are insufficient funds in the Cash Management Deposit Account, Borrower shall deposit with Lender into the Cash Management Deposit Account) on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000)months, in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two three (23) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. Upon the occurrence of a Trigger Period, Borrower shall deposit with Lender (a) an amount equal to one-twelfth of the Real Estate Taxes that Lender estimates will be payable for all Real Estate Taxes on or before their next respective due dates multiplied by the amount of Monthly Payment Dates that have occurred since the last applicable payment of all such Real Estate Taxes and (b) thereafter, during the continuance of the applicable Trigger Period, on each Monthly Payment Date, an amount equal to one-twelfth of the Real Estate Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), period in order to accumulate sufficient funds to pay all such Real Estate Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Real Estate Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Real Estate Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Real Estate Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Real Estate Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. Borrower shall deposit or cause to be deposited with or on behalf of Lender (a) on or before the Closing Date, the amount of Three Hundred Forty Two Thousand One Hundred Twenty-Two and 83/100 Dollars ($342,122.83) and (b) on each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower in writing of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives written notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. Borrower shall deposit with Lender (i) an amount reasonably determined by Lender on or before the Closing Date, and (ii) on each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000)months, in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred into an Account established by or on behalf of Lender to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency by the date that is at least ten thirty (1030) days prior to the respective Due Dates due dates for the Taxes; provided, that if Borrower receives notice of any deficiency after the date that is ten thirty (1030) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. On the Closing Date, Borrower shall deposit with Lender an amount equal to Three Hundred Fifty-Two Thousand Seven Hundred Sixty-One and 64/100 Dollars ($352,761.64) and, on or before each Monthly Payment Date, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds”. ” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Tax Account.” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the TaxesTaxes at least thirty (30) days prior to the respective due dates, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any such deficiency after the date that is ten thirty (1030) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two by the earlier of (2a) three (3) Business Days after its receipt of such notice. For the avoidance of doubt, notice and (b) one (1) Business Day prior to the extent date that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearTaxes are due.

Deposits of Tax Funds. On the Closing Date, Borrower shall deposit with Lender Agent the amount of and No/100 Dollars and, pursuant to the Cash Management Agreement, there shall be deposited on or before each Monthly Payment Date, Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “Tax Funds”. .” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, Notwithstanding anything to the extent contrary contained herein, Borrower’s obligation to make deposits of Insurance Funds required by this Section 6.2.1 shall be suspended during any time Borrower provides evidence, reasonably satisfactory to Lender, that any Individual Property or Properties has been released from the Lien under the Loan Documents Borrower is reserving for Taxes pursuant to and in accordance with the terms hereofHotel Management Agreement, the funds required to no Event of Default shall have occurred and be deposited into the Tax Account by Borrower continuing and Lender shall be appropriately reduced for the remainder have received evidence of payment of the Fiscal Yearrelated Taxes in accordance with Section 4.1.2 hereof.

Deposits of Tax Funds. Borrower shall deposit or cause to be deposited with or on behalf of Lender (a) on or before the Closing Date, the amount of Eight Hundred Ninety Thousand Two Hundred Fifteen and 26/100 Dollars ($890,215.26) and (b) on each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower in writing of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives written notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two (2) Business Days after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. On the Closing Date, Borrower shall deposit with Lender Agent the amount of 0.00 and No/100 Dollars and, pursuant to the Cash Management Agreement, there shall be deposited on or before each Monthly Payment Date, Date an amount equal to one-one- twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes), which amounts shall be transferred into an Account (the “Tax Account”)their respective due dates. Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 6.2.1 are referred to herein as the “"Tax Funds”". If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two one (21) Business Days Day after its receipt of such notice. For Notwithstanding the avoidance foregoing, so long as no Event of doubt, to the extent that any Individual Property or Properties Default has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds occurred and is continuing and then Borrower shall not be required to be deposited into the make monthly payments of Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal YearFunds.

Deposits of Tax Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $55,355.36 for transfer to the Tax Account. Commencing on the Monthly Payment Date occurring in February 2014 and on each Monthly Payment Date thereafter Borrower shall deposit with Lender on or before each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.

Deposits of Tax Funds. During the continuance of a Trigger Period, Borrower shall shall, subject to Sections 6.11.2 and 6.3.3 hereof deposit with Lender the following: (a) upon the commencement of such Trigger Period, an amount reasonably determined by Lender such that sufficient amounts shall be on or before deposit in the Tax Account (taking into account the payments required to be deposited pursuant to clause (b) of this Section 6.3.1) to pay the next scheduled payment of Taxes and (b) on each Monthly Payment DateDate during the continuance of a Trigger Period, an amount equal to one-twelfth (1/12th) of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), taking into account the amounts on deposit pursuant to clause (a) of this Section 6.3.1) in order to accumulate sufficient funds to pay all such Taxes at least thirty (30) days prior to the date they respectively respective dates the same shall become Due and Payable (the “Due Date” with respect to such applicable Taxes)delinquent, which amounts shall be transferred into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the TaxesTaxes (taking into account the monthly deposits of Tax Funds required to be made pursuant to clause (b) above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates for the Taxesdates that such Taxes become delinquent; provided, that if Borrower receives notice from Lender of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes become delinquent, Borrower will deposit with or on behalf of Lender the amount of such amount deficiency within two three (23) Business Days after its receipt of such notice. For notice (provided that, if the avoidance of doubtTaxes will become delinquent in less than three (3) Business Days, to Borrower will deposit the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Yearamounts within one (1) Business Day).

Deposits of Tax Funds. Borrower shall deposit with Lender (i) on or before the Closing Date, an amount equal to $2,822,545.00 and (ii) on each Monthly Payment Date, an amount equal to one-twelfth of the Real Estate Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000564,509.00), in order to accumulate sufficient funds to pay all such Real Estate Taxes at least thirty (30) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred into an Account (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Real Estate Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Real Estate Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Real Estate Taxes; provided, that if Borrower receives written notice from Lender of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Real Estate Taxes are due, Borrower will deposit with or on behalf of Lender such amount within two three (23) Business Days after its receipt of such notice. For notice (provided that, if the avoidance of doubtTaxes will become delinquent in less than three (3) Business Days, to Borrower will deposit the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Yearamounts within one (1) Business Day).

Deposits of Tax Funds. Borrower shall deposit or cause to be deposited with or on behalf of Lender (a) on or before the Closing Date, the amount of Fifty Five Thousand Eight Hundred Thirty Two and No/100 Dollars ($55,832.00) and (b) on each Monthly Payment Date, an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months (initially, $1,440,000), in order to accumulate sufficient funds to pay all such Taxes at least thirty ten (3010) days prior to the date they respectively become Due and Payable (the “Due Date” with respect to such applicable Taxes)their respective due dates, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Tax Account”). Amounts deposited from time to time into the Tax Account pursuant to this Section 6.3.1 are referred to herein as the “Tax Funds”. If at any time time, Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective Due Dates due dates for the Taxes; provided, provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the Due Date for such Taxesdate that Taxes are due, Borrower will deposit with or on behalf of Lender Lender, such amount within two one (21) Business Days Day after its receipt of such notice. For the avoidance of doubt, to the extent that any Individual Property or Properties has been released from the Lien under the Loan Documents in accordance with the terms hereof, the funds required to be deposited into the Tax Account by Borrower shall be appropriately reduced for the remainder of the Fiscal Year.