Other Reserve Funds. Monthly Deposits Each of the following Reserve Deposit amounts must be deposited with Funding Lender on successive Project Loan Payment Dates in accordance with Article IV. These Reserve Deposits must be made in cash. Deposit Type Amount Deferred ☐ Monthly Debt Service Reserve Deposit $_______ N/A ☐ Monthly HAP Deposit $_______ N/A ☐ HAP Reserve Cap $_______ N/A ☐ Rate Cap Reserve Deposit see Rider ☐ ☐ Other: [describe] see Rider ☐ (See Article IV and the applicable Rider(s) for these Reserve Funds)
Other Reserve Funds. Closing Date Deposits Each of the following Reserve Deposit amounts must be deposited with Lender on the Closing Date in accordance with Article IV. Unless Letter of Credit is marked below, these Reserve Deposits must be made in cash. Remaining Reserve Funds Deposit Type Amount Cash Letter of Credit Deposited into Replacement Reserve Fund Returned to Borrower ☐ Initial Debt Service Reserve Deposit $_______ ☐ ☐ N/A x ☐ Initial HAP Deposit $_______ x N/A N/A x ☐ Lease-Up Debt Service Reserve Deposit $_______ ☐ ☐ ☐ ☐ ☐ Lease-Up Credit Enhancement (Reserve Deposit or Letter of Credit) $_______ ☐ ☐ N/A x ☐ Initial Rate Cap Reserve Deposit $_______ X N/A N/A X ☐ Rental Achievement Reserve Deposit $_______ ☐ ☐ ☐ ☐ ☐ Tax Abatement Reserve Deposit $_______ x N/A ☐ ☐ ☐ Other: [describe] $_______ ☐ ☐ ☐ ☐ (See Article IV and the applicable Rider(s) for these Reserve Funds)
Other Reserve Funds
