Common use of Funds Deposited With Lender Clause in Contracts

Funds Deposited With Lender. All funds of Borrower which are deposited with Lender pursuant to this Agreement or any other Loan Document shall be held in a separate account and invested in an interest-bearing account (at not less than money market rates). Any interest which accrues on said funds shall, at Lender's sole option, be paid to Borrower or be held as part of the applicable funds being held by Lender for the same purpose for which the principal sum of said funds is being held by Lender. The Capital Reserve fund shall be reviewed by the Lender annually on the anniversary of the Loan to determine if sufficient sums are being funded for the expenses provided for herein. If the Lender determines, in its reasonable discretion, that the Capital Reserve fund is insufficient, Borrower shall pay all funding shortages within thirty (30) days after notice by Lender. To secure all of Borrower's obligations to Lender under the Loan Documents, Borrower hereby grants to Lender a security interest in all funds now or hereafter deposited with Lender or otherwise in Lender's possession, custody or control pursuant to the provisions of this Agreement or any other Loan Document, including all funds deposited pursuant to Sections 4.1.B, 4.1.R, and 4.1.T of this Agreement. So long as any Event of Default exists, Lender shall have such rights with respect to such funds and any interest accrued thereon as are provided by applicable law and may apply such funds towards the satisfaction of Borrower's obligations hereunder or under any other Loan Documents. Without limiting any of the foregoing provisions, at the request of Lender, Borrower shall execute and deliver from time to time such documents as may be necessary or appropriate, in Lender's sole judgment, to assure Lender that it has a first priority perfected security interest in and lien on all funds deposited pursuant to Sections 4.1.B, 4.1.R, and 4.1.T of this Agreement, including the creation of a deposit account in the name of Borrower in a banking institution approved by Lender either within or outside of the State of Ohio, as directed by Lender, into which any or all of such funds will be deposited and maintained, subject to the rights of Lender with respect to such funds as provided herein. Lender reserves the right to inspect such repairs or replacements prior to the release of funds at Borrower's expense provided that such inspection expenses shall not exceed $1,500 in any twelve (12) month period.

Funds Deposited With Lender. All funds of Borrower which are deposited with Lender pursuant to this Agreement or any other Loan Document shall be held in a separate account and invested in an interest-bearing account (at not less than money market rates). Any interest which accrues on said funds shall, at Lender's sole option, be paid to Borrower or be held as part of the applicable funds being held by Lender for the same purpose for which the principal sum of said funds is being held by Lender. The Capital Reserve fund shall be reviewed by the Lender annually on the anniversary of the Loan to determine if sufficient sums are being funded for the expenses provided for herein. If the Lender determines, in its reasonable discretion, that the Capital Reserve fund is insufficient, Borrower shall pay all funding shortages within thirty (30) days after notice by Lender. To secure all of Borrower's obligations to Lender under the Loan Documents, Borrower hereby grants to Lender a security interest in all funds now or hereafter deposited with Lender or otherwise in Lender's possession, custody or control pursuant to the provisions of this Agreement or any other Loan Document, including all funds deposited pursuant to Sections 4.1.B, 4.1.R, and 4.1.T of this Agreement. So long as any Event of Default exists, Lender shall have such rights with respect to such funds and any interest accrued thereon as are provided by applicable law and may apply such funds towards the satisfaction of Borrower's obligations hereunder or under any other Loan Documents. Without limiting any of the foregoing provisions, at the request of Lender, Borrower shall execute and deliver from time to time such documents as may be necessary or appropriate, in Lender's sole judgment, to assure Lender that it has a first priority perfected security interest in and lien on all funds deposited pursuant to Sections 4.1.B, 4.1.R, and 4.1.T of this Agreement, including the creation of a deposit account in the name of Borrower in a banking institution approved by Lender either within or outside of the State of Ohio, as directed by Lender, into which any or all of such funds will be deposited and maintained, subject to the rights of Lender with respect to such funds as provided herein. Lender reserves the right to inspect such repairs or replacements prior to the release of funds at Borrower's expense provided that such inspection expenses shall not exceed $1,500 in any twelve (12) month period. Audit and Inspection by Lender. Lender shall have the right, upon reasonable prior notice, and Borrower shall permit and shall cooperate with Lender in arranging for, at any reasonable time and from time to time, Lender and its representatives (i) to inspect the Property, and (ii) to review and audit all books, records and financial statements of Borrower (including all supporting data and any other records from which the Net Cash Flow may be determined); and Borrower shall make all such books of account and records available for such examination at the office where the same are regularly maintained. Lender shall have the right to copy, duplicate and make abstracts from such books and records as Lender may require. If any audit by Lender discloses that payments of Net Cash Flow which should have been made by Borrower exceeds the sums which were actually made by Borrower, then Borrower shall, within ten (10) days following written notice from Lender, pay to Lender the difference between said amounts, together with interest on such amount at the Default Rate from the date such amounts should have been paid to the date of post-audit payment. Borrower shall pay Lender's costs and expenses incurred in connection with no more than one (1) such audit per year. Borrower acknowledges and agrees that (i) all of such audits, inspections and reports shall be made for the sole benefit of Lender, and not for the benefit of Borrower or any third party, and neither Lender nor Lender's auditors or inspectors or any of Lender's representatives, agents or contractors assumes any responsibility or liability (except to Lender) by reason of such audits, inspections or reports, (ii) Borrower will not rely upon any of such audits, inspections or reports for any purpose whatsoever, and (iii) the performance of such audits, inspections and reports will not constitute a waiver of any of the provisions of this Agreement or any other Loan Document or any of the obligations of Borrower hereunder or thereunder. Borrower further acknowledges and agrees that neither Lender nor Lender's inspectors, representatives, agents or contractors shall be deemed to be in any way responsible for any matters related to design or construction of the Improvements.

Funds Deposited With Lender. All funds of Borrower which are deposited --------------------------- with Lender pursuant to this Agreement or any other Loan Document may be commingled with Lender's general funds but shall always be held in a separate account and invested in an interest-bearing account (at not less than money market rates)account. Any interest which accrues on said funds shall, at Lender's sole option, be paid to Borrower or be held as part of the applicable funds being held by Lender for the same purpose for which the principal sum of said funds is being held by Lender. The Capital Reserve fund shall be reviewed by the Lender annually on the anniversary of the Loan to determine if sufficient sums are being funded for the expenses provided for herein. If the Lender determines, in its reasonable discretion, that the Capital Reserve fund is insufficient, Borrower shall pay all funding shortages within thirty (30) days after notice by Lender; provided, however, that in no event shall the funding shortage for any year exceed l25% of the Capital Reserve fund for the previous calendar year. To secure all of Borrower's obligations to Lender under the Loan Documents, Borrower hereby grants to Lender a security interest in all funds now or hereafter deposited with Lender or otherwise in Lender's possession, custody or control pursuant to the provisions of this Agreement or any other Loan Document, including all funds deposited pursuant to Sections 4.1.B, 4.1.R, 4.1.B and 4.1.T 4.1.O of ------------------------ this Agreement. So long as any Event of Default exists, Lender shall have such rights with respect to such funds and any interest accrued thereon as are provided by applicable law and may apply such funds towards the satisfaction of Borrower's obligations hereunder or under any other Loan Documents. Without limiting any of the foregoing provisions, at the request of Lender, Borrower shall execute and deliver from time to time such documents as may be necessary or appropriate, in Lender's sole judgment, to assure Lender that it has a first priority perfected security interest in and lien on all funds deposited pursuant to Sections 4.1.B, 4.1.R, 4.1.B and 4.1.T 4.1.O of this Agreement, including the creation of a ------------------------ deposit account in the name of Borrower in a banking institution approved by Lender either within or outside of the State of Ohio, as directed by Lender, into which any or all of such funds will be deposited and maintained, subject to the rights of Lender with respect to such funds as provided herein. All funds held by Lender reserves the right to inspect such repairs or replacements prior pursuant to the release Agreement at the time the Loan is paid in full shall be returned to Borrower within five (5) Business Days of funds at the date of payment in full or, upon the mutual agreement of Borrower and Lender, shall be applied to Borrower's expense provided that such inspection expenses shall not exceed $1,500 in any twelve (12) month periodfinal payment on the Loan.

Funds Deposited With Lender. All funds of Borrower which are deposited with Lender pursuant to this Agreement or any other Loan Document may be commingled with Lender's general funds. All such funds shall be held deposited in a separate account and invested in an one (1) or more interest-bearing account (at not less than money market rates)accounts. Any interest which accrues on said funds shall, at Lender's sole option, be paid to Borrower or be held as part of the applicable funds being held by Lender for the same purpose for which the principal sum of said funds is being held by Lender. The Capital Reserve fund shall be reviewed by the Lender annually on the anniversary of the Loan to determine if sufficient sums are being funded for the expenses provided for herein. If the Lender determines, in its reasonable discretion, that the Capital Reserve fund is insufficient, Borrower shall pay all funding shortages within thirty (30) days after notice by Lender. To secure all of Borrower's obligations to Lender under the Loan Documents, Borrower hereby grants to Lender a security interest in all funds now or hereafter deposited with Lender or otherwise in Lender's possession, custody or control pursuant to the provisions of this Agreement or any other Loan Document, including all funds deposited pursuant to Sections SECTIONS 4.1.B, 4.1.R, 4.1.R and 4.1.T of this Agreement. 4.1.T. So long as any Event of Default exists, Lender shall have such rights with respect to such funds and any interest accrued thereon as are provided by applicable law and may apply such funds towards the satisfaction of Borrower's obligations hereunder or under any other Loan Documents. Without limiting any of the foregoing provisions, at the request of Lender, Borrower shall execute and deliver from time to time such documents as may be necessary or appropriate, in Lender's sole judgment, to assure Lender that it has a first priority perfected security interest in and lien on all funds deposited pursuant to Sections SECTIONS 4.1.B, 4.1.R, 4.1.R and 4.1.T of this Agreement4.1.T, including the creation of a deposit account in the name of Borrower in a banking institution approved by Lender either within or outside of the State of OhioConnecticut, as directed by Lender, into which any or all of such funds will be deposited and maintained, subject to the rights of Lender with respect to such funds as provided herein. Lender reserves the right to inspect such repairs or replacements prior to the release of funds at Borrower's expense provided that such inspection expenses shall not exceed $1,500 in any twelve (12) month period.