Common use of Funds for Impositions Clause in Contracts

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor any Funds then held by Agent.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor Mortgagor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor Mortgagor and as part of the security for the Secured Obligations. Grantor Mortgagor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor Mortgagor furnishes Agent with reasonably satisfactory evidence that Grantor Mortgagor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor Mortgagor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor Mortgagor has delivered to Agent the assessments or bills therefor. Grantor Mortgagor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to GrantorMortgagor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor Mortgagor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor Mortgagor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor Mortgagor any Funds then held by Agent.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen thirty (1530) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate non-interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured ObligationsDebt. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured ObligationsDebt, and may be applied, at Agent’s option and without prior notice to Grantor, to the payment of the Secured Obligations Debt upon the occurrence and during the continuance of any Event of Default. If at any time the amount of the Funds held by Agent Agent, or to be held considering the deposits to be made under this Section 1.02, shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon the payment and performance in full of the Secured Obligations Debt and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor any Funds then held by Agent.

Funds for Impositions. After the occurrence Subject to Xxxxxx's option under Paragraphs 3 --------------------- and during the continuance of an Event of Default4 hereof, Grantor Borrower shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, Lender on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “"Funds”") reasonably estimated by Agent equal to provide an amount necessary for payment one-twelfth (1/12) of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “"Impositions”"): (a) the yearly water and sewer bills, real estate taxes, ad valorem taxes, personal property taxes, assessments assessments, betterments, and bettermentsall governmental charges of every name and restriction which may be levied on the Property, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit AgreementLender pursuant to Paragraph 4 hereof. The Impositions shall be reasonably estimated initially and from time to time by Agent Xxxxxx on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate Xxxxxx, free of interest bearing account and free of any liens or claims on the part of other creditors of Grantor Borrower and as part of the security for the Secured Obligations. Grantor The Funds shall pay all Impositions prior not be, nor be deemed to delinquency as required by Section 1.03 hereofbe, trust funds but may be commingled with the general funds of Lender. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent Lender shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent Xxxxxx and provided Grantor Borrower has delivered to Agent Lender the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent Lender shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s Xxxxxx's option and without notice to GrantorBorrower, to the payment of the Secured Obligations upon the occurrence of any Event of DefaultDefault hereunder. If at any time the amount of the Funds held by Agent Lender shall be less than the amount reasonably deemed necessary by Agent Lender to pay Impositions as such become due, Grantor Borrower shall pay to Agent Lender any amount necessary to make up the deficiency within fifteen five (155) business days after notice from Agent Lender to Grantor Borrower requesting payment thereof. Upon performance and payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Obligations, Lender to issue Letters of Credit, Agent shall promptly refund to Grantor Borrower any Funds then held by AgentLender.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the NoteNotes, until the Note is Notes are paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor any Funds then held by Agent.

Funds for Impositions. After Following receipt of written notice from Agent given after the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen thirty (1530) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of CreditObligations, Agent shall promptly refund to Grantor any Funds (plus accrued interest) then held by Agent.

Funds for Impositions. After the occurrence and during the continuance of an Event of DefaultAt Mortgagee’s request, Grantor Mortgagor shall pay to Agent, subject to Agent’s option under Section 1.03 hereofinto an account established with Mortgagee, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “"Funds”") reasonably estimated by Agent equal to provide an amount necessary for payment one-twelfth (1/12) of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “"Impositions”"): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments assessments, betterments, and bettermentsall governmental charges of every name and restriction which may be levied on the Mortgaged Property, and (b) the yearly premium installments for the insurance covering the Mortgaged Property and required by the Credit AgreementMortgagee pursuant to Paragraph 4 hereof. The Impositions shall be reasonably estimated initially and from time to time by Agent Mortgagee on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate Mortgagee, free of interest bearing account and free of any liens or claims on the part of other creditors of Grantor Mortgagor and as part of the security for the Secured Obligations. Grantor The Funds shall pay all Impositions prior not be, nor be deemed to delinquency as required by Section 1.03 hereof. In be, trust funds but may be commingled with the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more general funds of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and billsMortgagee. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at AgentMortgagee’s option and without notice to GrantorMortgagor, to the payment of the Secured Obligations upon the occurrence of any Event of DefaultDefault hereunder. If at any time the amount of the Funds held by Agent Mortgagee shall be less than the amount reasonably deemed necessary by Agent Mortgagee to pay Impositions as such become due, Grantor Mortgagor shall pay to Agent Mortgagee any amount necessary to make up the deficiency within fifteen five (155) business days after notice from Agent Mortgagee to Grantor Mortgagor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of CreditObligations, Agent Mortgagee shall promptly refund to Grantor Mortgagor any Funds then held by AgentMortgagee.

Funds for Impositions. After Following receipt of written notice from Agent given after the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen thirty (1530) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Loan Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of CreditObligations, Agent shall promptly refund to Grantor any Funds (plus accrued interest) then held by Agent.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to AgentBeneficiary, subject to AgentBeneficiary’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent Beneficiary to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent Beneficiary on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent Beneficiary in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall not be entitled to any interest on the Funds held by Beneficiary. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent Beneficiary elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent Beneficiary with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent Beneficiary shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by AgentBeneficiary. Alternatively, Agent Beneficiary shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent Beneficiary and provided Grantor has delivered to Agent Beneficiary the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent Beneficiary shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at AgentBeneficiary’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent Beneficiary shall be less than the amount reasonably deemed necessary by Agent Beneficiary to pay Impositions as such become due, Grantor shall pay to Agent Beneficiary any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent Beneficiary to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent Beneficiary shall promptly refund to Grantor any Funds then held by AgentBeneficiary.

Funds for Impositions. After the occurrence and during the continuance of an Event of DefaultAt Mortgagee’s request, Grantor Mortgagor shall pay to Agent, subject to Agent’s option under Section 1.03 hereofinto an account established with Mortgagee, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent equal to provide an amount necessary for payment one-twelfth (1/12) of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments assessments, betterments, and bettermentsall governmental charges of every name and restriction which may be levied on the Mortgaged Property, and (b) the yearly premium installments for the insurance covering the Mortgaged Property and required by the Credit AgreementMortgagee pursuant to Paragraph 4 hereof. The Impositions shall be reasonably estimated initially and from time to time by Agent Mortgagee on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate Mortgagee, free of interest bearing account and free of any liens or claims on the part of other creditors of Grantor Mortgagor and as part of the security for the Secured Obligations. Grantor The Funds shall pay all Impositions prior not be, nor be deemed to delinquency as required by Section 1.03 hereof. In be, trust funds but may be commingled with the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more general funds of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and billsMortgagee. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at AgentMortgagee’s option and without notice to GrantorMortgagor, to the payment of the Secured Obligations upon the occurrence of any Event of DefaultDefault hereunder. If at any time the amount of the Funds held by Agent Mortgagee shall be less than the amount reasonably deemed necessary by Agent Mortgagee to pay Impositions as such become due, Grantor Mortgagor shall pay to Agent Mortgagee any amount necessary to make up the deficiency within fifteen five (155) business days after notice from Agent Mortgagee to Grantor Mortgagor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of CreditObligations, Agent Mortgagee shall promptly refund to Grantor Mortgagor any Funds then held by AgentMortgagee.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen thirty (1530) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02Provided no Event of Default has occurred and is continuing, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of CreditObligations, Agent shall promptly refund to Grantor any Funds then held by Agent.

Funds for Impositions. After Subject to Xxxxxx's option under Paragraphs 3 and 4 hereof, following the occurrence and during the continuance of an any Event of Default, Grantor Borrower shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, Lender on the days that monthly installments first day of interest are payable under each month during the Note, until term of the Note is paid in fullLoan Agreement, a sum (hereinafter referred to as the “"Funds”") reasonably estimated by Agent equal to provide an amount necessary for payment one-twelfth (1/12) of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “"Impositions”"): (a) the yearly water and sewer bills, real estate taxes, ad valorem taxes, personal property taxes, assessments assessments, betterments, and bettermentsall governmental charges of every name and restriction which may be levied on the Property, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. Lender pursuant to Paragraph 4 hereof.. The Impositions shall be reasonably estimated initially and from time to time by Agent Xxxxxx on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate Xxxxxx, free of interest bearing account and free of any liens or claims on the part of other creditors of Grantor Borrower and as part of the security for the Secured Obligations. Grantor The Funds shall pay all Impositions prior not be, nor be deemed to delinquency as required by Section 1.03 hereofbe, trust funds but may be commingled with the general funds of Lender. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent Lender shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent Xxxxxx and provided Grantor Borrower has delivered to Agent Lender the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent Lender shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s Xxxxxx's option and without notice to GrantorBorrower, to the payment of the Secured Obligations upon the occurrence of any Event of DefaultDefault hereunder. If at any time the amount of the Funds held by Agent Lender shall be less than the amount reasonably deemed necessary by Agent Lender to pay Impositions as such become due, Grantor Borrower shall pay to Agent Lender any amount necessary to make up the deficiency within fifteen five (155) business days after notice from Agent Lender to Grantor Borrower requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Obligations, Lender to issue Letters of Credit, Agent shall promptly refund to Grantor Borrower any Funds then held by AgentXxxxxx.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the Note, until the Note is paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit Agreement. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the Impositions, Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by Agent. Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without upon notice to Grantor, to the payment of the Secured Obligations upon the occurrence and during the continuance of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor any Funds then held by Agent.

Funds for Impositions. After the occurrence and during the continuance of an Event of Default, Grantor shall pay to Agent, subject to Agent’s option under Section 1.03 hereof, on the days that monthly installments of interest are payable under the NoteNotes, until the Note is Notes are paid in full, a sum (hereinafter referred to as the “Funds”) reasonably estimated by Agent to provide an amount necessary for payment of the following items in full fifteen (15) days prior to when such items become due (hereinafter collectively referred to as the “Impositions”): (a) the yearly real estate taxes, ad valorem taxes, personal property taxes, assessments and betterments, and (b) the yearly premium installments for the insurance covering the Property and required by the Credit AgreementAgreement to the extent insurance policies maintained pursuant to the Credit Agreement are not blanket policies; provided, however, notwithstanding anything to the contrary contained in the Loan Documents, upon request by Agent following the occurrence and continuance of an Event of Default, Grantor covenants and agrees to escrow premiums reasonably required by Agent to purchase insurance for the Property as required pursuant to the Credit Agreement under a separate insurance policy. The Impositions shall be reasonably estimated initially and from time to time by Agent on the basis of assessments and bills and estimates thereof. The Funds shall be held by Agent in a separate interest bearing account free of any liens or claims on the part of other creditors of Grantor and as part of the security for the Secured Obligations. Grantor shall pay all Impositions prior to delinquency as required by Section 1.03 hereof. In the event Agent elects to reserve Funds as permitted under this Section 1.02, within ten (10) days after Grantor furnishes Agent with reasonably satisfactory evidence that Grantor has paid one or more of the items comprising the ImpositionsImpositions (including, without limitation, delivering evidence that the insurance covering the Property was acquired under a blanket policy), Agent shall reimburse Grantor (or the one paying the Impositions) therefor to the extent of the Funds (plus accrued interest) then held by AgentAgent (which will include the entire amount escrowed for estimated insurance premiums at such time as Grantor delivers evidence of insurance for the Property required pursuant to the Credit Agreement). Alternatively, Agent shall apply the Funds to pay the Impositions with respect to which the Funds were paid to the extent of the Funds then held by Agent and provided Grantor has delivered to Agent the assessments or bills therefor. Grantor shall be permitted to pay any Imposition early in order to take advantage of any available discounts. Agent shall make no charge for so holding and applying the Funds or for verifying and compiling said assessments and bills. The Funds are pledged as additional security for the Secured Obligations, and may be applied, at Agent’s option and without notice to Grantor, to the payment of the Secured Obligations upon the occurrence of any Event of Default. If at any time the amount of the Funds held by Agent shall be less than the amount reasonably deemed necessary by Agent to pay Impositions as such become due, Grantor shall pay to Agent any amount necessary to make up the deficiency within fifteen (15) business days after notice from Agent to Grantor requesting payment thereof. Upon payment and performance in full of the Secured Obligations and termination of the obligation of the Lenders to make Loans and of Issuing Lender to issue Letters of Credit, Agent shall promptly refund to Grantor any Funds then held by Agent.