Common use of Insurance Reserves Clause in Contracts

Insurance Reserves. If Borrowers fail to pay their insurance premiums, Lender may require Borrowers to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Borrowers of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Borrowers shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Borrowers as they become due. Lender does not hold the reserve funds in trust for Borrowers, and Lender is not the agent of Borrowers for payment of the insurance premiums required to be paid by Borrowers. The responsibility for the payment of premiums shall remain Borrowers' sole responsibility.

Insurance Reserves. If Borrowers fail to pay their insurance premiums, Lender may require Borrowers Borrower to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Borrowers Borrower of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Borrowers Borrower shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-interest bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Borrowers Borrower as they become due. Lender does not hold the reserve reserves funds in trust for BorrowersBorrower, and Lender is not the agent of Borrowers Borrower for payment of the insurance premiums required to be paid by BorrowersBorrower. The responsibility for the payment of premiums shall remain Borrowers' Borrower’s sole responsibility.

Insurance Reserves. If Borrowers fail to pay their insurance premiums, Lender may require Borrowers Borrower to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Borrowers Borrower of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due datedates, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Borrowers Borrower shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-interest bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Borrowers Borrower as they become due. Lender does not hold the reserve funds in trust for BorrowersBorrower, and Lender is not the agent of Borrowers Borrower for payment of on the insurance premiums premium required to be paid by BorrowersBorrower. The responsibility for the payment of premiums shall remain Borrowers' Borrower's sole responsibility.

Insurance Reserves. If Borrowers fail to pay their insurance premiums, Lender may require Borrowers Granter to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Borrowers Granter of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Borrowers Granter shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Borrowers Granter as they become due. Lender does not hold the reserve funds in trust for BorrowersGranter, and Lender Lxxxxx is not the agent of Borrowers Granter for payment of the insurance premiums required to be paid by BorrowersGranter. The responsibility for the payment of premiums shall remain Borrowers' Granter’s sole responsibility.