Common use of Monthly Deposits Clause in Contracts

Monthly Deposits. Upon the demand of Lender which may be made at any time after the occurrence of an Event of Default (as hereinafter defined), Mortgagor will deposit with Lender, on the due date of each monthly payment under the Note, such amounts as in the estimation of Lender shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar charges relating to the Premises as they become due. All of said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and shall be used by Lender to pay current taxes, assessments, insurance premiums, and other sums payable in connection with the Premises and other similar charges on the Premises as the same accrue and are payable. Payment of such items from said sums may be made by Lender even though such payments will benefit subsequent owners of the Premises or the Land. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Lender. If said deposits are insufficient to pay such taxes, assessments, insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor will deposit with Lender such additional sum or sums as may be required in order for Lender to pay such taxes, assessments, insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event of default under the provisions of this Mortgage, the Note, the Credit Agreement, or any of the other Loan Documents, Lender may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby in such manner as it may elect.

Monthly Deposits. Upon Default, at the demand option of Lender which may be made at any time after and further to secure the occurrence payment of an Event of Default (as hereinafter defined)the taxes and assessments referred to in Paragraph 1.02 and the premiums on the insurance referred to in Paragraph 1.03, Mortgagor will Borrower shall deposit with Lender, on the due date of each monthly payment installment under the Note, such amounts as as, in the reasonable estimation of Lender Lender, shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar such charges relating to the Premises as they become due. All of ; said deposits are to be held by Lender, free of interest, and free of any liens or claims on the part of creditors of Mortgagor Borrower and as part of the security of Lender, and shall to be used by Lender to pay current taxes, assessments, taxes and assessments and insurance premiums, and other sums payable in connection with the Premises and other similar charges premiums on the Premises as the same accrue and are payable. Payment of such items from said sums may for said purposes shall be made by Lender even though such payments will benefit subsequent owners of the Premises or the Landin a timely fashion for any proper purpose. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Lender. If said deposits are insufficient to pay such taxes, assessments, the taxes and assessments and insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor Borrower will deposit deposit, upon written request, with Lender such additional sum or sums as may be required in order for Lender to pay such taxes, assessments, taxes and assessments and insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event of default under in the provisions of this Mortgage, Deed or the Note, the Credit Agreement, or any of instrument evidencing, securing or in any way related to the other Loan DocumentsIndebtedness, Lender may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby Indebtedness in such manner as it may elect.

Monthly Deposits. Upon the demand of Lender which may be made at Following any time after the occurrence of an Event of Default (as hereinafter defined)Default, Mortgagor will shall deposit with LenderMortgagee, on the due date of each monthly payment installment under the Note, such amounts an amount equal to one-twelfth (1/12) of the yearly taxes and assessments and insurance premiums as in estimated by the estimation of Lender shall Mortgagee to be necessary or proper sufficient to pay all taxes, such charges; said deposits to be held and to be used by Mortgagee to pay current taxes and assessments, insurance premiums and other similar charges relating to the Premises as they become due. All of said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and shall be used by Lender to pay current taxes, assessments, insurance premiums, and other sums payable in connection with the Premises and other similar charges on the Premises Collateral as the same accrue and are payable. Payment of such items from said sums for said purposes shall be made by Mortgagee and may be made by Lender even though such payments will benefit subsequent owners of the Premises or the LandCollateral. Said deposits shall not be, nor be deemed to be, trust funds funds, but may be be, to the extent permitted by applicable law, commingled with the general funds of LenderMortgagee without payment of interest. If said deposits are insufficient to pay such taxes, the taxes and assessments, insurance premiums and similar other charges in connection with the Premises in full as the same become payablepay able, Mortgagor will deposit with Lender Mortgagee such additional sum or sums as may be required in order for Lender Mortgagee to pay such taxes, taxes and assessments, insurance premiums and other charges payable in connection with full as the Premises in fullsame become due and payable. Upon any default or event Event of default under the provisions of this Mortgage, the Note, the Credit Agreement, or any Default and acceleration of the other Loan Documentsmaturity date of the Loan, Lender Mortgagee may, at its option, apply any money in the fund resulting relating from said deposits to the payment of the indebtedness secured hereby Loan Obligations in such manner as it may elect.

Monthly Deposits. Upon At the demand option of Lender which may be made at any time Beneficiary and further to secure the payment of the taxes, assessments and other sums referred to in Section 1.02 and the premiums on the insurance referred to in Section 1.03, in the event that on or after the occurrence date of an Event this Deed of Default (as hereinafter defined)Trust, Mortgagor will any Grantor has failed to pay any such taxes, assessment or other sums referred to in Section 1.02 when due, Grantors shall upon request of Beneficiary deposit with LenderBeneficiary, on the due date of each monthly payment installment under the Note, such amounts as as, in the estimation of Lender Beneficiary, shall be necessary or proper to pay all taxes, such charges as they become due; said deposits to be held and to be used by Beneficiary to pay current taxes and assessments, insurance premiums and other similar charges relating to the Premises as they become due. All of said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and shall be used by Lender to pay current taxes, assessments, insurance premiums, and other sums payable in connection with the Premises and other similar charges on the Premises as the same accrue and are payable. Payment of such items from said sums for said purposes shall be made by Beneficiary at its discretion and may be made by Lender even though such payments will benefit subsequent owners of the Premises or the LandPremises. Said deposits shall not be, nor be deemed to be, trust funds funds, but may be be, to the extent permitted by applicable law, commingled with the general funds of LenderBeneficiary, and no interest shall be payable in respect thereof. If said deposits are insufficient to pay such taxes, the taxes and assessments, insurance premiums and similar other charges in connection with the Premises in full as the same become payable, Mortgagor Grantors will deposit with Lender Beneficiary such additional sum or sums as may be required in order for Lender Beneficiary to pay such taxes, taxes and assessments, insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event of default under in the provisions of this Mortgage, Deed of Trust or the Note, the Credit Agreement, or any of instrument evidencing, securing or in any way related to the other Loan DocumentsSecured Indebtedness, Lender Beneficiary may, at its option, apply any money in the fund resulting relating from said deposits to the payment of the indebtedness secured hereby Secured Indebtedness in such manner as it may elect.

Monthly Deposits. Upon the demand of Lender which may be made at any time At Lender's request after the occurrence of an ---------------- Event of Default (as under this Mortgage or upon Mortgagor's failure to pay the taxes, lease payments, insurance premiums, assessments and other similar charges hereinafter defined)described when due, Mortgagor will deposit with Lender, shall pay to the Lender on the due date first day of each monthly payment month, together with and in addition to the regular installment of interest or principal and interest under the Note, such amounts as in until the estimation Note is fully paid, an amount equal to one-twelfth (1/12) of Lender shall be necessary or proper to pay all the yearly taxes, assessmentslease payments, insurance premiums premiums, assessments and other similar charges relating against the Mortgaged Property or any part thereof as estimated by the Lender to be sufficient to enable the Premises as Lender to pay all such charges at least thirty (30) days before they first become due. All of said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and shall be used by Lender to pay current taxes, assessments, insurance premiums, and other sums payable in connection with the Premises and other similar charges on the Premises as the same accrue and are payable. Payment of such items from said sums may be made by Lender even though such Such added payments will benefit subsequent owners of the Premises or the Land. Said deposits shall not be, nor be deemed to be, trust funds funds, but may be commingled with the general funds of the Lender, and no interest shall be payable in respect thereto. If said deposits are insufficient Upon demand of the Lender the Mortgagor shall deliver to pay such taxes, assessments, insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor will deposit with Lender such additional sum or sums monies as may be required are necessary to make up any deficiencies in order for the amounts necessary to enable the Lender to pay such taxes, assessmentslease payments, insurance premiums premiums, assessments and other charges payable in connection with the Premises in fullsimilar charges. Upon the occurrence of an Event of Default under any default of the terms, covenants or event of default conditions in the Note, Loan Agreement or related Loan Documents, or under the provisions of this Mortgage, the Note, Lender may apply to the Credit Agreement, or any reduction of the other Loan Documentssums secured hereby, Lender may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby in such manner as it may electthe Lender shall determine, any amount under this Section remaining to the Mortgagor's credit.

Monthly Deposits. Upon an event of default hereunder and at Grantee's option, to further secure the demand payment of Lender which may be made at any time after taxes, assessments and premiums for hazard insurance on the occurrence of an Event of Default (as hereinafter defined)Premises, Mortgagor Grantor will deposit with LenderGrantee, on the due date of each monthly payment installment under the Note, such amounts as a sum which in the estimation of Lender Grantee shall be necessary or proper equal to pay all one-twelfth (1/12th) of the annual taxes, assessments, assessments and hazard insurance premiums and other similar charges relating to for the Premises as they become due. All of Premises; said deposits are to be held by Lender, Grantee free of interest and free of any liens or claims on the part of creditors of Mortgagor Grantor and as a part of the security of Lender, and Grantee. Such sums shall be used by Lender Grantee to pay current taxes, assessments, assessments and hazard insurance premiums, and other sums payable in connection with the Premises and other similar charges premiums on the Premises as the same accrue and are payable. Payment of such items from , but said sums may be made by Lender even though such payments will benefit subsequent owners of the Premises or the Land. Said deposits shall not be, nor be deemed to be, trust funds but and may be commingled with the general funds of LenderGrantee. If said deposits are insufficient Grantee shall be under no obligation to pay such taxes, assessments, assessments and hazard insurance premiums unless sufficient funds are available from said deposits to pay same, and similar charges in connection with the Premises in full as the same become payableif said deposits are insufficient, Mortgagor Grantor will deposit with Lender such Grantee an additional sum or sums as may be required in order for Lender Grantee to pay such taxes, assessments, assessments and hazard insurance premiums and other charges payable in connection with the Premises in fullfull when due. Upon any default or event of default under the provisions of this Mortgage, indenture or in the Note, the Credit Agreement, or any of the other Loan Documents, Lender Grantee may, at its option, apply any money in the fund funds resulting from said deposits to the payment of the indebtedness secured hereby in such manner as it may elect.

Monthly Deposits. Upon the demand of Lender which may be made at any time From and after the occurrence of an Event of Default (as hereinafter defined)hereunder, to secure the payment of the taxes and assessments referred to in Section 2.3 and premiums on the insurance policies referred to in Section 2.4, the Mortgagor will shall, at the Mortgagee's written request, deposit with Lender, the Mortgagee on the due date first Business Day of each monthly payment under the Note, month such amounts as as, in the estimation of Lender the Mortgagee, shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar such charges relating to the Premises as they become due. All due to be calculated upon the basis of the prior year's tax bills and the current year's insurance premiums; said deposits are to be held by Lenderthe Mortgagee, in the manner set forth in Section 2.4(c) free of any liens or claims on the part of creditors of the Mortgagor and as part of the security of Lenderthe Mortgagee, and shall to be used by Lender the Mortgagee to pay current taxes, assessments, insurance premiums, taxes and other sums payable in connection with the Premises and other similar charges assessments on the Premises Mortgaged Property and insurance premiums as the same accrue and are payable. Payment of such items from said sums for said purposes shall be made by the Mortgagee at its discretion and may be made by Lender even though such payments will benefit subsequent owners of the Premises or the Land. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of LenderMortgaged Property. If said deposits are insufficient to pay such taxes, assessments, taxes and assessments and insurance premiums and similar charges in connection with the Premises in full as the same become payable, the Mortgagor will deposit with Lender the Mortgagee such additional sum or sums as may be required in order for Lender the Mortgagee to pay such taxes, assessments, taxes and assessments and insurance premiums and other charges payable in connection with the Premises in full. Upon the occurrence of an Event of Default under any default or event of default the Loan Documents and acceleration of the Mortgagor's Indebtedness under the provisions of this Mortgage, the Mortgage Note, the Credit Agreement, or any of the other Loan Documents, Lender Mortgagee may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby Indebtedness in such the manner as it may electspecified in Section 11.8 of the Loan Agreement.

Monthly Deposits. Upon In order to assure compliance with Borrower’s obligations pursuant to Section 4.3 and Section 6.1, Borrower shall deposit with Lender, together with and in addition to each monthly payment due on account of the demand Loan, an amount equal to one-twelfth of the annual total of such Real Estate Taxes and insurance premiums (all as reasonably estimated by Lender) so that, at least thirty (30) days prior to the due date thereof, Lender which shall be able to pay in full all such Real Estate Taxes and insurance premiums. Lender may be made hold the sums so deposited without paying interest, commingle same with its general funds and/or apply the same to the payment of Real Estate Taxes and insurance premiums. If at any time after the funds held by Lender are insufficient to pay such Real Estate Taxes and insurance premiums, Borrower shall promptly, upon Notice and demand by Lender, deposit with Lender the amount of such deficiency. If Xxxxxxxx fails to make timely payments pursuant to the terms of this Section 4.3, Lender, at Xxxxxx’s sole option, shall have the right to make such payments pursuant to the terms of this Agreement. Upon and following the occurrence of an Event of Default (as hereinafter defined), Mortgagor will deposit with Lender, on the due date of each monthly payment under the Note, such amounts as in the estimation of Lender shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar charges relating to the Premises as they become due. All of said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and shall be used by Lender to pay current taxes, assessments, insurance premiums, and other sums payable in connection with the Premises and other similar charges on the Premises as the same accrue and are payable. Payment of such items from said sums may be made by Lender even though such payments will benefit subsequent owners of the Premises or the Land. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Lender. If said deposits are insufficient to pay such taxes, assessments, insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor will deposit with Lender such additional sum or sums as may be required in order for Lender to pay such taxes, assessments, insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event of default under the provisions of this Mortgage, the Note, the Credit Agreement, or any of the other Loan DocumentsDefault, Lender may, at its optionXxxxxx’s sole option but without an obligation so to do, apply any money in funds held pursuant to the fund resulting from said deposits to terms of this Section 4.3(b) toward the payment of the indebtedness secured hereby Indebtedness, notwithstanding the fact that the amount owing thereon may not then be due and payable or that the Indebtedness may otherwise be adequately secured, in such order and manner of application as it Lender may elect.

Monthly Deposits. Upon Default, at the demand option of Lender which may be made at any time after and further to secure the occurrence payment of an Event of Default (as hereinafter defined)the taxes and assessments referred to in Paragraph 1.02 and the premiums on the insurance referred to in Paragraph 1.03, Mortgagor will Borrower shall deposit with Lender, on the due date of each monthly payment installment under the Note, such amounts as as, in the estimation of Lender Lender, shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar such charges relating to the Premises as they become due. All of ; said deposits are to be held by Lender, free of interest, and free of any liens or claims on the part of creditors of Mortgagor Borrower and as part of the security of Lender, and shall to be used by Lender to pay current taxes, assessments, taxes and assessments and insurance premiums, and other sums payable in connection with the Premises and other similar charges premiums on the Premises as the same accrue and are payable. Payment of such items from said sums may for said purposes shall be made by Lender at its discretion and may be made even though such payments will benefit subsequent owners of the Premises or the LandPremises. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Lender. If said deposits are insufficient to pay such taxes, assessments, the taxes and assessments and insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor Borrower will deposit with Lender such additional sum or sums as may be required in order for Lender to pay such taxes, assessments, taxes and assessments and insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event of default under in the provisions of this Mortgage, Deed or the Note, the Credit Agreement, or any of instrument evidencing, securing or in any way related to the other Loan DocumentsIndebtedness, Lender may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby Indebtedness in such manner as it may elect.

Monthly Deposits. Upon the demand of Lender which may be made at any time after the occurrence of an Event of Default (as hereinafter defined), Mortgagor will Grantor shall deposit with LenderGrantee, commencing on September 1, 1997 and continuing on the due date of each monthly payment installment under the Note, (1) such amounts as as, in the estimation of Lender Grantee, shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar charges relating to the Premises as they become due (a) the taxes and assessments referred to in Section 1.03 and (b) the premiums for insurance referred to in Section 1.04, (and Grantor shall deposit with Grantee, contemporaneously with the execution hereof, such amounts which, together with the monthly payment, shall be sufficient to pay such taxes and premiums when due). All of said Said deposits are to be held by LenderGrantee, free of interest, and free of any liens or claims on the part of creditors of Mortgagor Grantor and as part of the security of LenderGrantee, and shall to be used by Lender Grantee to pay current taxes, assessments, insurance premiums, taxes and other sums payable in connection with assessments on the Premises and other similar charges on or insurance premiums with respect to the Premises as the same accrue and are payable. Payment of such items from said sums for said purposes shall be made by Grantee and may be made by Lender even though such payments will benefit subsequent owners of the Premises or the LandPremises. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of LenderGrantee. If said deposits are insufficient to pay such taxes, assessments, the taxes and assessments or insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor Grantor will deposit with Lender Grantee such additional sum or sums as may be required in order for Lender Grantee to pay such taxes, assessments, taxes and assessments or insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event of default under Default in the provisions of this Mortgage, Deed to Secure Debt or the Note, the Credit AgreementNote which is not cured within any applicable cure period, or any of instrument evidencing, securing or in any way relating to the other Loan DocumentsIndebtedness, Lender Grantee may, at its option, apply any money in the fund its possession or control resulting from said deposits to the payment of the indebtedness secured hereby Indebtedness in such manner as it may elect.

Monthly Deposits. Upon Mortgagor shall, as required by the demand of Lender which may be made at any time after the occurrence of an Event of Default (as hereinafter defined)Loan Documents, Mortgagor will deposit with Lender, on the due date of each monthly payment installment under the Note, such amounts an amount equal to one-twelfth (1/12) of the yearly taxes and assessments and insurance premiums with respect to the Collateral as in estimated by the estimation of Lender shall to be necessary or proper sufficient to pay such charges all taxes, assessments, insurance premiums in accordance with the Tax and other similar charges relating to the Premises as they become due. All Insurance Escrow and Security Agreement with Lender of even date herewith; said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and shall to be used by Lender to pay current taxes, taxes and assessments, insurance premiums, premiums and other sums payable in connection with the Premises and other similar charges on the Premises Collateral as the same accrue and are payable. Payment of such items from said sums may for said purposes shall be made by Lender at its discretion and may be made even though such payments will benefit subsequent owners of the Premises or the LandCollateral. Said deposits shall not be, nor be deemed to be, trust funds funds, but may be be, to the extent permitted by applicable law, commingled with the general funds of LenderLender without payment of interest. If said deposits are insufficient to pay such taxes, the taxes and assessments, insurance premiums and similar other charges in connection with the Premises in full as the same become payable, Mortgagor will deposit with Lender such additional sum or sums as may be required in order for Lender to pay such taxes, taxes and assessments, insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event Event of default under the provisions of this Mortgage, the Note, the Credit Agreement, or any of the other Loan DocumentsDefault, Lender may, at its option, apply any money in the fund resulting relating from said deposits to the payment of the indebtedness secured hereby Loan Obligations in such manner as it may elect.

Monthly Deposits. Upon the demand of Lender which may be made at any time after the occurrence of an Event of Default (as hereinafter defined)Default, Mortgagor will at the option of Lender and upon written notice to Borrower, and further to secure the payment of the taxes and assessments referred to in Section 1.02 and the premiums on the insurance referred to in Section 1.03, Borrower shall deposit with Lender, on the due date of each monthly payment installment under the Note, such amounts as in the reasonable estimation of Lender shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar such charges relating to the Premises as they become due. All of ; said deposits are to be held by Lender, with interest, and free of any liens or claims on the part of Borrower or creditors of Mortgagor Borrower and as part of the security of Lender, and shall to be used by Lender to pay current taxes, assessments, taxes and assessments and insurance premiums, and other sums payable in connection with the Premises and other similar charges premiums on the Premises as the same accrue and are payable. Payment of such items from said sums may for said purposes shall be made by Lender at its discretion and may be made even though such payments will benefit subsequent owners of the Premises or the LandPremises. Said deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Lender. If said deposits are insufficient to pay such taxes, assessments, insurance premiums the taxes and similar charges in connection with the Premises assessments in full as the same become payable, Mortgagor Borrower, upon written request of Lender, will deposit with Lender such additional sum or sums as may be required in order for Lender to pay such taxes, assessments, insurance premiums taxes and other charges payable in connection with the Premises assessments in full. Upon any default Event of Default or event of default Potential Default under the provisions of this Mortgage, Deed or the Note, the Credit Agreement, or any of the other Loan Documents, Lender may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby Indebtedness in such manner as it may elect. As used herein, "Potential Default" shall mean any event, circumstance or occurrence which with the giving of notice or passage of time, or both, would be an Event of Default hereunder.

Monthly Deposits. Upon To secure the demand payment of Lender which may the taxes and assessments referred to in paragraph 1.2 and the premiums on the insurance referred to in paragraph 1.3, upon the request of the Beneficiary (to be made at any time after only if the occurrence Grantor is delinquent in the payment of an Event of Default (as hereinafter definedtaxes or insurance or is otherwise in default hereunder), Mortgagor will Grantor shall deposit with LenderBeneficiary, on a monthly basis, on the due date of each monthly payment installment due under the NoteNotes, such amounts as as, in the estimation of Lender Beneficiary, shall be necessary or proper to pay all taxes, assessments, insurance premiums and other similar such charges relating to the Premises as they become due. All of ; said deposits are to be held by Lender, free of any liens or claims on the part of creditors of Mortgagor and as part of the security of Lender, and Beneficiary in a non- interest bearing account with Beneficiary. The funds in said account shall be used by Lender Beneficiary to pay current taxes, assessments, taxes and assessments and insurance premiums, and other sums payable in connection with the Premises and other similar charges premiums on the Premises as the same accrue and are payable. Payment of such items from said sums for said purposes shall be made by Beneficiary at its discretion and may be made by Lender even though such payments will benefit subsequent owners of the Premises or the LandPremises. Said deposits shall not be, nor be deemed to be, trust funds funds, but may be be, to the extent permitted by applicable law, commingled with the general funds of LenderBeneficiary. If said deposits are insufficient to pay such taxes, assessments, the taxes and assessments and insurance premiums and similar charges in connection with the Premises in full as the same become payable, Mortgagor Grantor will deposit with Lender Beneficiary such additional sum or sums as may be required in order for Lender Beneficiary to pay such taxes, assessments, taxes and assessments and insurance premiums and other charges payable in connection with the Premises in full. Upon any default or event Event of default under Default in the provisions of this Mortgage, Deed of Trust or the Note, the Credit AgreementNotes, or any of instrument evidencing, securing, or in any way related to the other Loan DocumentsSecured Indebtedness, Lender Beneficiary may, at its option, apply any money in the fund resulting from said deposits to the payment of the indebtedness secured hereby Secured Indebtedness in such manner as it Beneficiary may elect.

Monthly Deposits. Upon At Mortgagee’s option following a default of this Mortgage or a default under the demand of Lender which may be made at any time after the occurrence of an Event of Default Loan Documents (as hereinafter defined)) after the expiration of all applicable notice and opportunity to cure provisions herein or therein, Mortgagor will deposit with Lenderthe Mortgagee a sum which, on the due date of each monthly payment under the Note, such amounts as in the estimation of Lender the Mortgagee, shall be necessary or proper equal to pay all one-twelfth of the annual taxes, assessments, assessments and insurance premiums and other similar charges relating to due in connection with the Premises as they become dueownership of the Premises. All of said The deposits are to shall be held by LenderMortgagee in a separate accounts (and not commingled with any other funds of Mortgagee) free of interest, and free of any liens or claims on the part of creditors of the Mortgagor and as part of the security of Lenderthe Mortgagee, and shall be used by Lender the Mortgagee to pay current taxes, assessments, assessments and insurance premiums, and other sums payable in connection with the Premises and other similar charges premiums on the each Premises as the same accrue and are payable. Payment of such items from said sums may be made by Lender even though such payments will benefit subsequent owners of the Premises or the Land. Said The deposits shall not be, nor be deemed to be, trust funds but may be commingled with the general funds of Lenderfunds. If said the deposits are insufficient to pay such the taxes, assessments, assessments and insurance premiums and similar charges in connection with the Premises in full as the same become payable, the Mortgagor will deposit with Lender the Mortgagee such additional sum or sums as may be required in order for Lender the Mortgagee to pay such taxes, assessments, insurance premiums taxes and other charges payable in connection with the Premises assessments in full. Upon any default hereunder or event of default under the provisions of this Mortgage, the Note, the Credit Agreement, Note or any of the other Loan Documents, Lender which default is not cured during any applicable notice and cure period, the Mortgagee may, at its option, apply any money in the fund resulting from said the deposits to the payment of the indebtedness secured hereby in such manner as it may elect.. In the event that there