Common use of Ground Lease Escrow Fund Clause in Contracts

Ground Lease Escrow Fund. (a) In the event that the annual Ground Rent due pursuant to a Ground Lease is in excess of $100.00, Borrower shall pay to Lender on each Payment Date an amount (the "Monthly Ground Rent Deposit") that is estimated by Lender to be due and payable by Borrower under the Ground Lease for all rent and any and all other charges (the "Ground Rent") which may be due by Mortgage Borrower under the Ground Lease in order to accumulate with Lender sufficient funds to pay all sums payable under the Ground Lease at least fifteen (15) Business Days prior to the dates due (said amounts, hereinafter called the "Ground Lease Escrow Fund"). The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease. Upon Mortgage Borrower's failure to pay any Ground Rents pursuant to the Ground Lease, Lender may, in its discretion, apply any amounts held in the Ground Lease Escrow Fund to the payment of such Ground Rent; provided however, that the provisions of this Section 7.4 shall not be deemed to create any obligation on the part of Lender to pay any such Ground Rent from amounts on deposit in the Ground Lease Escrow Fund. Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.

Ground Lease Escrow Fund. (a) In the event that the annual Ground Rent due pursuant to a Ground Lease is in excess of $100.00, Borrower shall pay to Lender on each Payment Date Date, an amount (the "“Monthly Ground Rent Deposit"”) that is estimated by Lender to be due and payable by Borrower under the Ground Lease for all rent and any and all other charges (the "Ground Rent") Rent which may be due by Mortgage Borrower under the Ground Lease in order to accumulate with Lender sufficient funds to pay all sums payable under the Ground Lease at least fifteen ten (1510) Business Days prior to the dates next date such Ground Rents are due and payable (said amounts, hereinafter called the "“Ground Lease Escrow Fund"”). The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease. Upon Mortgage Borrower's ’s failure to pay any Ground Rents after the receipt of any notice and at least ten (10) days prior to the expiration of any cure period available to Borrower pursuant to the Ground Lease, Lender may, in its discretion, apply any amounts held in the Ground Lease Escrow Fund to the payment of such Ground Rent; provided however, that the provisions of this Section 7.4 shall not be deemed to create any obligation on the part of Lender to pay any such Ground Rent from amounts on deposit in the Ground Lease Escrow Fund. Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.

Ground Lease Escrow Fund. (a) In the event that the annual Ground Rent due pursuant to a Ground Lease is in excess of $100.00, Borrower shall pay to Lender on each Payment Date an amount (the "Monthly Ground Rent Deposit") that is estimated by Lender to be due and payable by Borrower under the Ground Lease for all rent and any and all other charges (the "Ground Rent") which may be due by Mortgage Borrower under the Ground Lease in order to accumulate with Lender sufficient funds to pay all sums payable under the Ground Lease at least fifteen (15) Business Days prior to the dates due (said amounts, hereinafter called the "Ground Lease Escrow Fund"). The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease. Upon Mortgage Borrower's failure to pay any Ground Rents pursuant to the Ground Lease, Lender may, in its discretion, apply any amounts held in the Ground Lease Escrow Fund to the payment of such Ground Rent; provided however, that the provisions of this Section 7.4 shall not be deemed to create any obligation on the part of Lender to pay any such Ground Rent from amounts on deposit in the Ground Lease Escrow Fund. Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.

Ground Lease Escrow Fund. (a) In the event that the annual Ground Rent due pursuant to a Ground Lease is in excess of $100.00, Borrower shall pay to Lender on each Payment Date Date, an amount (the "“Monthly Ground Rent Deposit"”) that is estimated by Lender to be due and payable by Borrower under the Ground Lease for all rent and any and all other charges (the "Ground Rent") Rent which may be due by Mortgage Borrower under the Ground Lease in order to accumulate with Lender sufficient funds to pay all sums payable under the Ground Lease at least fifteen ten (1510) Business Days prior to the dates next date such Ground Rents are due and 84 payable (said amounts, hereinafter called the "“Ground Lease Escrow Fund"”). The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease. Upon Mortgage Borrower's ’s failure to pay any Ground Rents after the receipt of any notice and at least ten (10) days prior to the expiration of any cure period available to Borrower pursuant to the Ground Lease, Lender may, in its discretion, apply any amounts held in the Ground Lease Escrow Fund to the payment of such Ground Rent; provided however, that the provisions of this Section 7.4 shall not be deemed to create any obligation on the part of Lender to pay any such Ground Rent from amounts on deposit in the Ground Lease Escrow Fund. Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.

Ground Lease Escrow Fund. (a) In the event that the annual Ground Rent due pursuant to a Ground Lease is in excess of $100.00, Borrower shall pay to Lender on each Payment Date an amount (the "“Monthly Ground Rent Deposit"”) that is estimated by Lender to be due and payable by Borrower under the Ground Lease for all rent and any and all other charges (the "“Ground Rent"”) which may be due by Mortgage Borrower under the Ground Lease in order to accumulate with Lender sufficient funds to pay all sums payable under the Ground Lease at least fifteen (15) Business Days prior to the dates due (said amounts, hereinafter called the "“Ground Lease Escrow Fund"”). The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease. Upon Mortgage Borrower's ’s failure to pay any Ground Rents pursuant to the Ground Lease, Lender may, in its discretion, apply any amounts held in the Ground Lease Escrow Fund to the payment of such Ground Rent; provided however, that the provisions of this Section 7.4 shall not be deemed to create any obligation on the part of Lender to pay any such Ground Rent from amounts on deposit in the Ground Lease Escrow Fund. Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.

Ground Lease Escrow Fund. (a) In the event that the annual Ground Rent due pursuant to a Ground Lease is in excess of $100.00, Borrower shall pay to Lender on each Payment Date Date, an amount (the "Monthly Ground Rent MONTHLY GROUND RENT Deposit") that is estimated by Lender to be due and payable by Borrower under the Ground Lease for all rent and any and all other charges (the "Ground Rent") Rent which may be due by Mortgage Borrower under the Ground Lease in order to accumulate with Lender sufficient funds to pay all sums payable under the Ground Lease at least fifteen ten (1510) Business Days prior to the dates next date such Ground Rents are due and payable (said amounts, hereinafter called the "Ground Lease Escrow FundGROUND LEASE ESCROW FUND"). The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease. Upon Mortgage Borrower's failure to pay any Ground Rents after the receipt of any notice and at least ten (10) days prior to the expiration of any cure period available to Borrower pursuant to the Ground Lease, Lender may, in its discretion, apply any amounts held in the Ground Lease Escrow Fund to the payment of such Ground Rent; provided however, that the provisions of this Section 7.4 shall not be deemed to create any obligation on the part of Lender to pay any such Ground Rent from amounts on deposit in the Ground Lease Escrow Fund. Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.