Common use of Hold Disbursements in Trust Clause in Contracts

Hold Disbursements in Trust. That Borrower shall receive and hold in trust for the sole benefit of Lender (but not for the benefit of any other person, including, but not limited to, the General Contractors or any subcontractors) all advances made hereunder directly to Borrower, for the purpose of paying costs of Construction in accordance with the Budget. Borrower shall use the proceeds of the Loan solely for the payment of costs as specified in the Budget. Borrower will pay all other costs, expenses and fees relating to the Construction of the Improvements.

Hold Disbursements in Trust. That Borrower shall receive and hold in trust for the sole benefit of Lender Xxxxxx (but and not for the benefit of any other person, including, but not limited towithout limitation, the General Contractors Contractor or any subcontractorsSubcontractors) all advances made hereunder directly to Borrower, for the purpose of paying costs of Construction construction in accordance with the Budget. Borrower shall use the proceeds of the Loan Proceeds solely for the payment of costs as specified in the Budget. Borrower will pay all other costs, expenses and fees relating to the Construction acquisition, equipping, fixturing, use and operation of the ImprovementsProject.

Hold Disbursements in Trust. That Borrower shall receive and hold in ---------------------------- trust for the sole benefit of Lender (but and not for the benefit of any other person, including, but not limited to, the General Contractors contractors or any subcontractors) all advances made hereunder directly to Borrower, for the purpose of paying costs of the Construction in accordance with the Budget. Borrower shall use the proceeds of the Loan solely for the payment of costs as specified in the Budget. Borrower will pay all other costs, expenses and fees relating to the Construction acquisition, equipping, use and operation of the ImprovementsProject.

Hold Disbursements in Trust. That Borrower shall receive and hold in trust for the sole benefit of Lender (but and not for the benefit of any other person, including, but not limited to, the General Contractors contractors or any subcontractors) all advances made hereunder directly to Borrower, for the purpose of paying costs of the Construction in accordance with the Budget. Borrower shall use the proceeds of the Loan solely for the payment of costs as specified in the Budget. Borrower will shall pay all other costs, expenses and fees relating to the Construction acquisition, equipping, use, sale and operation of the ImprovementsProject.

Hold Disbursements in Trust. That Borrower shall receive and hold in trust for the sole benefit of Lender (but and not for the benefit of any other person, including, but not limited to, the General Contractors contractors or any subcontractors) all advances made hereunder directly to Borrower, for the purpose of paying costs of the Construction in accordance with the Construction Budget. Borrower shall use the proceeds of the Loan solely for the payment of costs as specified in the Construction Budget. Borrower will pay all other costs, expenses and fees relating to the Construction acquisition, equipping, use and operation of the ImprovementsProject.