Common use of Impound Deposits Clause in Contracts

Impound Deposits. Commencing on the Impound Commencement Date and continuing on each Payment Day thereafter, Borrower shall deposit with Lender an amount equal to 1/12th of the aggregate annual charges, as reasonably estimated by Xxxxxx, for all real property taxes on the Site(s) and, to the extent included with real property taxes, the amount of any levies and assessments (including special district and improvement lien taxes, levies, and assessments) on the Site(s) (collectively, the “Real Property Impositions”). On the Impound Commencement Date, Borrower shall also deposit with Lender a sum of money that, together with the monthly installments described above, will be sufficient to pay the next installment of Real Property Impositions 30 days prior to the date any delinquency or penalty becomes due with respect thereto. Amounts deposited with Lender pursuant to this subsection are referred to collectively as the “Imposition Deposits”. Under no circumstances will Real Property Impositions be deemed to include income taxes, sales tax, or payroll taxes.

Impound Deposits. Commencing on the Impound Commencement Date and continuing on each Payment Day thereafter, Borrower shall deposit with Lender an amount equal to 1/12th of the aggregate annual charges, as reasonably estimated by XxxxxxLender, for all real property taxes on the Site(s) and, to the extent included with real property taxes, the amount of any levies and assessments (including special district and improvement lien taxes, levies, and assessments) on the Site(s) (collectively, the “Real Property Impositions”). On the Impound Commencement Date, Borrower shall also deposit with Lender a sum of money that, together with the monthly installments described above, will be sufficient to pay the next installment of Real Property Impositions 30 days prior to the date any delinquency or penalty becomes due with respect thereto. Amounts deposited with Lender pursuant to this subsection are referred to collectively as the “Imposition Deposits”. Under no circumstances will Real Property Impositions be deemed to include income taxes, sales tax, or payroll taxes.

Impound Deposits. Commencing on the Impound Commencement Date and continuing on each Payment Day thereafter, Borrower shall deposit with Lender an amount equal to 1/12th of the aggregate annual charges, as reasonably estimated by Xxxxxx, for all real property taxes on the Site(s) and, to the extent included with real property taxes, the amount of any levies and assessments (including special district and improvement lien taxes, levies, and assessments) on the Site(s) (collectively, the “Real Property Impositions”). On the ​ Impound Commencement Date, Borrower shall also deposit with Lender a sum of money that, together with the monthly installments described above, will be sufficient to pay the next installment of Real Property Impositions 30 days prior to the date any delinquency or penalty becomes due with respect thereto. Amounts deposited with Lender pursuant to this subsection are referred to collectively as the “Imposition Deposits”. Under no circumstances will Real Property Impositions be deemed to include income taxes, sales tax, or payroll taxes.

Impound Deposits. Commencing on the Impound Commencement Date and continuing on each Payment Day thereafter, Borrower shall deposit with Lender an amount equal to 1/12th of the aggregate annual charges, as reasonably estimated by XxxxxxLender, for all real property taxes on the Site(s) and, to the extent included with real property taxes, the amount of any levies and assessments (including special district and improvement lien taxes, levies, and assessments) on the Site(s) (collectively, the “Real Property Impositions”). On the Impound Commencement Date, Borrower shall also deposit with Lender a sum of money that, together with the monthly installments described above, will be sufficient to pay the next installment of Real Property Impositions 30 days prior to the date any delinquency or penalty becomes due with respect thereto. Amounts deposited with Lender pursuant to this subsection are referred to collectively as the “Imposition Deposits”. Under no circumstances will Real Property Impositions be deemed to include income taxes, sales tax, or payroll taxes. FINAL EXECUTION COPYLoan ID No.: 012680358