Common use of Other Reserve Funds Clause in Contracts

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. Closing Effective Date Deposits Each of the following Reserve Deposit amounts must be deposited with Funding Lender on the Closing Effective 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 X ☐ Initial HAP Deposit $_______ x 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 X ☐ Initial Rate Cap Reserve Deposit $_______ X N/A N/A X ☐ Rental Achievement Reserve Deposit $_______ ☐ ☐ ☐ ☐ ☐ Tax Abatement Reserve Deposit $_______ x X N/A ☐ ☐ ☐ Other: [describe] $_______ ☐ ☐ ☐ ☐ (See Article IV and the applicable Rider(s) for these Reserve Funds)