Common use of Payment of Basic Carrying Costs Clause in Contracts

Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior to the due date of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Lender in writing and request that Lender make such Basic Carrying Cost payment on behalf of the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordination.

Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior to the due date of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Lender in writing and request that Lender make such Basic Carrying Cost payment on behalf of the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott each Individual Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott each Individual Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s 's Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined by Lender based on Marriott’s 's periodic reporting obligations under the Management Agreement and/or Manager’s 's Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s 's Subordination.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish is continuing and that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Provided that there are no Event of Default shall have occurred and is continuing, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Notwithstanding the foregoing, in the event that there are Lender receives a tax xxxx directly from a Governmental Authority relating to any Impositions, Lender shall pay all sums due thereunder prior to the date such Impositions would accrue late charges or interest thereon or within ten (10) Business Days of the receipt of such tax xxxx, whichever is later. In making any payment of Impositions, Lender may rely on any xxxx, statement or estimate obtained from the applicable Governmental Authority without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any Imposition or claim with respect thereto. Provided that no Event of Default shall have occurred and be continuing, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur and be continuing, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests as provided for in this Security Instrument. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Mortgagor hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Mortgagor may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Mortgagor on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Mortgagor shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Mortgagor’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests as provided for in this Security Instrument. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Notwithstanding the foregoing, in the event that there are Lender receives a tax xxxx directly from a Governmental Authority relating to any Impositions, Lender shall pay all sums due thereunder prior to the date such Impositions would accrue late charges or interest thereon or within ten (10) Business Days of the receipt of such tax xxxx, whichever is later. In making any payment of Impositions, Lender may rely on any xxxx, statement or estimate obtained from the applicable Governmental Authority without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any Imposition or claim with respect thereto. Provided that no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub- Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Xxxxxx, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Xxxxxx’s interests. Provided that there are no Event of Default shall have occurred and be continuing, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur and be continuing, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish is continuing and that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Provided that there are no Event of Default shall have occurred and is continuing, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. (x) Grantor hereby agrees to pay all Basic Carrying Costs with respect to Grantor, the Trust Property and any Rent derived therefrom or with respect thereto. At least five (5) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Grantor may notify Lender Beneficiary in writing and request that Lender make Beneficiary pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Grantor on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Sub- Account, in each case without independent investigation or verification. Lender Beneficiary shall make such payments out of the Basic Carrying Cost Costs Sub-Account before the same shall be delinquent delinquent. Together with each such request, Grantor shall furnish Beneficiary with bills and all other documents necessary, as reasonably determined by Beneficiary, for the payment of the Basic Carrying Costs which are the subject of such request. Grantor's obligation to pay (or cause Beneficiary to pay) Basic Carrying Costs pursuant to this Deed of Trust shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Beneficiary an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Beneficiary's interests. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Costs Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due shall be held by Beneficiary pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Deed of Trust and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the proceeds on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination Beneficiary in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Beneficiary in its sole discretion may determine; PROVIDED, HOWEVER, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationBeneficiary as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Notwithstanding the foregoing, in the event that there are Lender receives a tax xxxx directly from a Governmental Authority relating to any Real Estate Taxes, Lender shall pay all sums due thereunder prior to the date such Real Estate Taxes would accrue late charges or interest thereon or within ten (10) Business Days of the receipt of such tax xxxx, whichever is later. In making any payment of Real Estate Taxes, Lender may rely on any xxxx, statement or estimate obtained from the applicable Governmental Authority without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any Real Estate Taxes or claim with respect thereto. Provided that no Event of Default shall have occurred and be continuing, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur and be continuing, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not otherwise reserved for and paid by Manager the Debt (subject to any obligations of Lender pursuant to Section 5.05 hereof) or any other charges affecting all or any portion of the Management Agreement and/or Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise until actually made by Lender as herein provided. Notwithstanding anything set forth herein, provided no Event of Default has occurred and is continuing, to the Manager’s Subordinationextent all funds required to be collected as part of any future Basic Carrying Costs Monthly Installment with respect to Impositions during any Fiscal Year of the Loan exceed the amounts reasonably required by Lender to be escrowed in order to pay Impositions for such Fiscal Year in accordance with the terms of this Security Instrument at least thirty (30) days prior to their respective due dates for such Fiscal Year, such excess funds (if any) shall, if requested by Borrower in writing, be promptly released to Borrower.

Payment of Basic Carrying Costs. (x) Grantor hereby agrees to pay all Basic Carrying Costs with respect to Grantor, the Trust Property and any Rent derived therefrom or with respect thereto. At least five (5) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Grantor may notify Lender Beneficiary in writing and request that Lender make Beneficiary pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Grantor on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Sub-Account, in each case without independent investigation or verification. Lender Beneficiary shall make such payments out of the Basic Carrying Cost Costs Sub-Account before the same shall be delinquent delinquent. Together with each such request, Grantor shall furnish Beneficiary with bills and all other documents necessary, as reasonably determined by Beneficiary, for the payment of the Basic Carrying Costs which are the subject of such request. Grantor's obligation to pay (or cause Beneficiary to pay) Basic Carrying Costs pursuant to this Deed of Trust shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Beneficiary an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Beneficiary's interests. Upon receipt by Beneficiary of a written notice from Grantor requesting that there are funds available Beneficiary reimburse Grantor for any Impositions which Grantor has previously paid in accordance with the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation terms hereof (provided that Grantor shall not be entitled to establish the amount(s) due and the due date(s) as and when deliver any such notice more frequently than once each month), provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as that (A) Marriott is Manager of such Marriott Property, (Bi) no default Event of Default has occurred and is continuing under and (ii) such notice is accompanied by an original invoice for such Impositions which has been marked "paid in full" by the Management Agreement applicable appropriate taxing authority, together with a copy of the cancelled check in payment of such invoice or such other documents as may be reasonably required by Beneficiary to establish that the Basic Carrying Costs which are the subject of such Marriott Property beyond request have been paid, Beneficiary shall disburse any applicable notice and cure periods set forth thereinsums actually on deposit in the Basic Carrying Costs Sub-Account to Grantor up to an amount equal to the Impositions for which such invoice relates. Provided that no Event of Default shall have occurred, (C) Marriott is making all required payments as and when due funds deposited into the Basic Carrying Costs Sub-Account shall be held by Beneficiary pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Deed of Trust and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the proceeds on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender based on Marriott’s periodic reporting obligations under Beneficiary in payment of any Basic Carrying Costs for all or any portion of the Management Agreement and/or Manager’s Subordination Cross-collateralized Properties or otherwiseany other charges affecting all or any portion of the Cross-collateralized Properties or, this Section 2.11(e)(i)(x) shall only apply at any time following the acceleration of the Debt in accordance with Article XIII hereof, may be applied to the payment of Impositions not the Debt, as Beneficiary in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationBeneficiary as herein provided.

Payment of Basic Carrying Costs. (x) Mortgagor hereby agrees to pay all Basic Carrying Costs with respect to Mortgagor, the Mortgaged Property and any Rent derived therefrom or with respect thereto. At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Mortgagor may notify Lender Mortgagee in writing and request that Lender make Mortgagee pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Mortgagor on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Sub-Account, in each case without independent investigation or verification. Lender Mortgagee shall make such payments out of the Basic Carrying Cost Costs Sub-Account before the same shall be delinquent delinquent. Together with each such request, Mortgagor shall furnish Mortgagee with bills and all other documents necessary, as reasonably determined by Mortgagee, for the payment of the Basic Carrying Costs which are the subject of such request. Mortgagor's obligation to pay (or cause Mortgagee to pay) Basic Carrying Costs pursuant to this Mortgage shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Mortgagee an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Mortgagee's interests. Provided that there are no Event of Default shall have occurred and is continuing, all funds available in deposited into the Basic Carrying Cost Costs Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due shall be held by Mortgagee pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Mortgage and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur and is continuing, as reasonably determined the proceeds on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination Mortgagee in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Mortgagee in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationMortgagee as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money, if any, in the Basic Carrying Costs Sub­ Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender's interests. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay or cause Manager to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender's interests. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Notwithstanding the foregoing, in the event that there are Lender receives a tax xxxx directly from a Governmental Authority relating to any Real Estate Taxes, Lender shall pay all sums due thereunder prior to the date such Real Estate Taxes would accrue late charges or interest thereon or within ten (10) Business Days of the receipt of such tax xxxx, whichever is later. In making any payment of Real Estate Taxes, Lender may rely on any xxxx, statement or estimate obtained from the applicable Governmental Authority without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any Real Estate Taxes or claim with respect thereto. Provided that no Event of Default shall have occurred and be continuing, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur and be continuing, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not otherwise reserved for and paid by Manager the Debt (subject to any obligations of Lender pursuant to Section 5.05 hereof) or any other charges affecting all or any portion of the Management Agreement and/or Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise until actually made by Lender as herein provided. Notwithstanding anything set forth herein, provided no Event of Default has occurred and is continuing, to the Manager’s Subordinationextent all funds required to be collected as part of any future Basic Carrying Costs Monthly Installment with respect to Impositions during any Fiscal Year of the Loan exceed the amounts reasonably required by Lender to be escrowed in order to pay Impositions for such Fiscal Year in accordance with the terms of this Security Instrument at least thirty (30) days prior to their respective due dates for such Fiscal Year, such excess funds (if any) shall, if requested by Borrower in writing, be promptly released to Borrower.

Payment of Basic Carrying Costs. (x) Mxxxxxxxx hereby agrees to pay all Basic Carrying Costs with respect to Mortgagor, the Mortgaged Property and any Rent derived therefrom or with respect thereto. At least five (5) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Mortgagor may notify Lender Mortgagee in writing and request that Lender make Mortgagee pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Mortgagor on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Sub-Account, in each case without independent investigation or verification. Lender Mortgagee shall make such payments out of the Basic Carrying Cost Costs Sub-Account before the same shall be delinquent delinquent. Together with each such request, Mortgagor shall furnish Mortgagee with bills and all other documents necessary, as reasonably determined by Mortgagee, for the payment of the Basic Carrying Costs which are the subject of such request. Mortgagor's obligation to pay (or cause Mortgagee to pay) Basic Carrying Costs pursuant to this Mortgage shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Mortgagee an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Mortgagee's interests. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Costs Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due shall be held by Mortgagee pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Mortgage and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the proceeds on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination Mortgagee in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Mortgagee in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationMortgagee as herein provided.

Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior to the due date of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers Borrower shall notify Lender in writing and request that Lender make such Basic Carrying Cost payment on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers Borrower shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott Hyatt is Manager of such Marriott the Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott Hyatt is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined by Lender based on MarriottHyatt’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordination.

Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior Subject to the due date following provisions of any this Section 5.06, Borrower hereby agrees to pay all Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Lender Costs (without regard to the amount of money in writing and request that Lender make such the Basic Carrying Cost payment on behalf of Costs Sub-Account or the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then dueCosts Escrow Account). Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerProvided that no Event of Default has occurred, in each case without independent investigation or verification. Lender shall make such payments payment of the Basic Carrying Costs out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent to the extent delinquent, provided, however, that if there are not sufficient funds available in the Basic Carrying Cost Sub-Account Costs Escrow Account, Lender shall not be obligated to release funds to pay any Basic Carrying Costs, unless Borrower demonstrates to Lender’s reasonable satisfaction that Borrower has paid or will pay any such deficiency. Upon Lender’s request, Borrower shall furnish Lender with bills and Lender has received appropriate documentation to establish all other documents necessary, as reasonably determined by Lender, for the amount(s) payment of the Basic Carrying Costs which are then due and payable. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Agreement shall include, to the due date(s) as and when provided aboveextent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions. Notwithstanding anything herein the foregoing provisions of this Section 5.06, Lender acknowledges that Borrower has advised Lender that Borrower maintains a blanket insurance policy to cover the Projects and pays the premiums for such policy in advance. Upon presentation to Lender of evidence reasonably satisfactory to Lender of the payment of such premiums, provided that no Event of Default has occurred, Lender agrees to release to Borrower from the Basic Carrying Costs Escrow Account (to the contraryextent of funds on deposit therein) funds in an amount required to reimburse Borrower for the premiums so paid. Provided that no Event of Default shall exist, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under all funds deposited into the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due Basic Carrying Costs Escrow Account shall be held by Lender pursuant to the Management provisions of this Agreement and/or the Manager’s Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default exist, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of any of the Projects as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Except to the extent that Lender is obligated to pay Basic Carrying Costs from the Basic Carrying Costs Sub-Account pursuant to the terms of Section 2.12(f)(i), Borrower shall pay all Basic Carrying Costs with respect to Borrower and each Individual Property in accordance with the provisions of the Related Mortgages, subject, however, to Borrower's rights to contest payment of same in accordance with the Related Mortgages. Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Agreement shall include, to the extent permitted by applicable law, Impositions resulting from the passage of any state, federal, municipal or other governmental law, order, rule or regulation subsequent to the date hereof, in any manner changing or modifying the laws now in force governing the taxation of mortgages, security agreements or deeds of trust or debts secured thereby or the manner of collecting such taxes so as to materially adversely affect Lender with respect to any Mortgage or Second Mortgage. (If, in the reasonable opinion of Lender, any such state, federal, municipal or other governmental law, order, rule or regulation prohibits Borrower from making, in any form or method, such payment or would materially penalize Lender if Borrower makes such payment or if, in the reasonable opinion of Lender, the making of such payment might result in the imposition of interest beyond the Maximum Amount, Borrower shall prepay a portion of the Loan equal to the Allocated Loan Amount with respect to the affected Individual Property, such prepayment to be applied to the Allocated Loan Amount for such Individual Property together with (x) At least five (5) Business Days prior interest thereon to the immediately succeeding Payment Date or (y) accrued interest thereon, if such prepayment is made on a Payment Date. Such prepayment shall be made on the date that is 120 days after such change in law, and failure to pay such amounts on the date due date shall be an Event of Default.) All funds deposited in the Servicer Account or the Cash Collateral Account relating to the Basic Carrying Costs shall be held by Lender pursuant to the provisions of this Agreement and shall be applied in payment of the foregoing charges when and as payable, provided that no Event of Default shall have occurred and be continuing. Should an Event of Default occur, the proceeds on deposit in the Basic Carrying Costs Sub-Account of the Servicer Account shall be transferred to the Basic Carrying Costs Sub-Account of the Cash Collateral Account and may be applied by Lender in payment of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Costs for all or any portion of the Mortgaged Property as Lender in writing and request its sole discretion may determine; provided, however, that Lender make such Basic Carrying Cost payment on behalf of after the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Securitization Closing Date Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out not apply the proceeds of the Basic Carrying Cost Costs Sub-Account before of the same shall be delinquent Servicer Account or the Cash Collateral Account to the extent that there are funds available such Basic Carrying Costs in the Basic Carrying Cost Sub-Account and event of a shortfall unless Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of receives notice from Servicer or becomes aware that Servicer shall not be advancing such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due shortfall pursuant to the Management Agreement and/or the Manager’s Subordinationterms of its pooling and servicing agreement; and provided, and (D) with respect further, that no such application shall be deemed to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full made by operation of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined law or otherwise until actually made by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordinationas herein provided.

Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior Except to the extent that Lender is obligated to pay Basic Carrying Costs from the Basic Carrying Costs Sub-Account pursuant to the terms of Section 2.12(f), Borrower shall pay all Basic Carrying Costs with respect to Borrower and each Individual Property in accordance with the provisions of the Related Mortgage, subject, however, to Borrower's rights to contest payment of same in accordance with the Related Mortgage. Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Agreement shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender or any Deed of Trust Trustee an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender's or the Deed of Trust Trustee's interests. (In the event such a change in law prohibits Borrower from assuming liability for payment of any such Imposition, the Allocated Loan Amount and accrued and unpaid interest thereon with respect to the affected Individual Property shall, at the option of Lender, become due and payable, without payment of the Yield Maintenance Premium, on the date that is 120 days after such change in law and failure to pay such amounts on the date due shall be an Event of Default.) All funds deposited in the Cash Collateral Account relating to the Basic Carrying Costs shall be held by Lender pursuant to the provisions of this Agreement and shall be applied in payment of the foregoing charges when and as payable, provided that no Event of Default shall have occurred and be continuing. Should an Event of Default occur, the proceeds on deposit in the Basic Carrying Costs Sub-Account may be applied by Lender in payment of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Costs for all or any portion of the Mortgaged Property as Lender in writing and request its sole discretion may determine; provided, however, that Lender make such Basic Carrying Cost payment on behalf of after the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Securitization Closing Date Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out not apply the proceeds of the Basic Carrying Cost Costs Sub-Account before the same as aforesaid unless Lender receives notice from Servicer or becomes aware that Servicer shall not be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of advancing such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due shortfall pursuant to the Management Agreement and/or terms of the Manager’s SubordinationPooling and Servicing Agreement; and provided, and (D) with respect further, that no such application shall be deemed to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full made by operation of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined law or otherwise until actually made by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordinationas herein provided.

Payment of Basic Carrying Costs. Grantor hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Grantor may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Grantor on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Grantor shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Grantor’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Notwithstanding the foregoing, provided that there no Event of Default has occurred and is continuing, in the event that Lender receives a tax xxxx directly from a Governmental Authority relating to any Real Estate Taxes, to the extent sums are funds available then on deposit in the Basic Carrying Cost Sub-Costs Escrow Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein relating to the contraryReal Estate Taxes billed in such tax xxxx, Lender shall apply such amounts contained in the Basic Carrying Costs Escrow Account to pay all sums due thereunder prior to the date such Real Estate Taxes would accrue late charges or interest thereon or within ten (10) Business Days of the receipt of such tax xxxx, whichever is later. In making any payment of Real Estate Taxes, Lender may rely on any xxxx, statement or estimate obtained from the applicable Governmental Authority without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any Imposition or claim with respect to each Marriott Propertythereto. Provided that no Event of Default shall have occurred, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under all funds deposited into the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due Basic Carrying Costs Escrow Account shall be held by Lender pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Cross-collateralized Properties as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carry Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof, and, provided that no Event of Default has occurred (unless the same has been waived by Lender or cured by Borrower, and such cure accepted by Lender) Lender shall make such payments to the extent of funds available in the Basic Carrying Costs Escrow Account and Financial Covenant Reserve Escrow Account before same shall be delinquent. Together with each such request, Borrowers Borrower shall furnish Lender with copies of bills and all other documentation documents necessary, as may be reasonably required determined by Lender to establish that such Basic Carrying Cost Xxxxxx, for the payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before Costs which are the same subject of such request. Borrower's obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall be delinquent include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Xxxxxx's interests, provided, however, that there are nothing in this Section 5.05 shall reduce or affect Borrower's obligations to make the payments required under Section 5.01(b). Provided that no Event of Default shall have occurred (unless the same has been waived by Lender or cured by Borrower and such cure accepted by Lender), all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof, as reasonably determined . Should an Event of Default occur (unless the same has been waived by Lender based or cured by Borrower and such cure accepted by Lender), the sums on Marriott’s periodic reporting obligations under deposit in the Management Agreement and/or Manager’s Subordination Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant Xxxxxx as herein provided. Notwithstanding anything to the Management Agreement and/or contrary set forth in this Security Instrument, Lender shall initially not require Borrower to make monthly deposits into the Manager’s SubordinationBasic Carrying Costs Escrow Account for insurance premiums, and Lender shall not make any disbursements from the Basic Carrying Costs Escrow Account for the payment of insurance premiums, provided that: (i) no Event of Default has occurred and (ii) at least thirty (30) days prior to the due date thereof, Borrower delivers to Lender evidence that insurance premiums relating to the Property have been paid for the corresponding period. Upon a violation of any of the requirements in the preceding sentence, Lender, at its option, may thereafter require that Borrower make deposits into the Basic Carrying Costs Escrow Account as otherwise contemplated in this Security Agreement, after which this paragraph shall have no further force or effect.

Payment of Basic Carrying Costs. (x) At least five (5) Business Days prior to the due date of any Basic Carrying Cost payment, and not more frequently than once each Interest Accrual Period, Borrowers shall notify Lender in writing and request that Lender make such Basic Carrying Cost payment on behalf of the applicable Borrowers on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any Borrower, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full of the next due installments of Impositions in accordance with the terms hereof, as reasonably determined by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s 40 Subordination or otherwise, this Section 2.11(e)(i)(x) shall only apply to the payment of Impositions not otherwise reserved for and paid by Manager pursuant to the Management Agreement and/or the Manager’s Subordination.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account delinquent. Together with each such request, Borrower shall furnish Lender with bills and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for payment in full of the next due installments of Impositions in accordance with the terms hereofother documents necessary, as reasonably determined by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination or otherwiseLender, this Section 2.11(e)(i)(x) shall only apply to for the payment of Impositions not otherwise reserved for and paid by Manager the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the Management Agreement and/or extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Notwithstanding the Manager’s Subordination.foregoing, in the event that Lender receives a tax xxxx directly from a Governmental Authority relating to any Real Estate Taxes, Lender shall pay all sums due thereunder prior to the date such Real Estate Taxes would accrue late charges or interest thereon or within ten (10) Business Days of the receipt of such tax xxxx, whichever is later. In making any payment of Real Estate Taxes, Lender may rely on any xxxx, statement or estimate obtained from the applicable Governmental Authority without inquiry into the accuracy of such xxxx, statement or estimate or into the validity of any Real Estate Taxes or claim with respect thereto. 66 Section 5.07. Intentionally Omitted. 67

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth with respect to Real Estate Taxes and once each month with respect to insurance premiums, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default then exists and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Real Estate Taxes resulting from future changes in law which impose upon Lender an obligation to pay any such Real Estate Taxes or which otherwise adversely affect Lender’s interests. Provided that there are no Event of Default exists, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default exist, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.

Payment of Basic Carrying Costs. Borrower hereby agrees to pay all Basic Carrying Costs (x) without regard to the amount of money in the Basic Carrying Costs Sub-Account or the Basic Carrying Costs Escrow Account). At least five ten (510) Business Days prior to the due date of any Basic Carrying Cost paymentCosts, and not more frequently than once each Interest Accrual Periodmonth, Borrowers shall Borrower may notify Lender in writing and request that Lender make pay such Basic Carrying Cost payment Costs on behalf of the applicable Borrowers Borrower on or prior to the due date thereof. Together with each such request, Borrowers shall furnish Lender with copies and, provided that no Event of bills Default has occurred and other documentation as may be reasonably required by Lender to establish that such there are sufficient funds available in the Basic Carrying Cost payment is then due. Lender shall be entitled to conclusively rely on all bills or other documentation received from any BorrowerCosts Escrow Account, in each case without independent investigation or verification. Lender shall make such payments out of the Basic Carrying Cost Sub-Costs Escrow Account before the same shall be delinquent delinquent. Together with each such request, Borrower shall furnish Lender with bills and all other documents necessary, as reasonably determined by Lender, for the payment of the Basic Carrying Costs which are the subject of such request. Borrower’s obligation to pay (or cause Lender to pay) Basic Carrying Costs pursuant to this Security Instrument shall include, to the extent permitted by applicable law, Impositions resulting from future changes in law which impose upon Lender an obligation to pay any property taxes or other Impositions or which otherwise adversely affect Lender’s interests. Provided that there are no Event of Default shall have occurred, all funds available in deposited into the Basic Carrying Cost Sub-Costs Escrow Account and shall be held by Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above. Notwithstanding anything herein to the contrary, with respect to each Marriott Property, so long as (A) Marriott is Manager of such Marriott Property, (B) no default has occurred and is continuing under the Management Agreement applicable to such Marriott Property beyond any applicable notice and cure periods set forth therein, (C) Marriott is making all required payments as and when due pursuant to the Management Agreement and/or the Manager’s Subordination, provisions of this Security Instrument and (D) with respect to Impositions, sufficient funds have been deducted from Gross Revenues (as defined under the applicable Management Agreement) to provide for shall be applied in payment in full of the next due installments of Impositions Basic Carrying Costs in accordance with the terms hereof. Should an Event of Default occur, as reasonably determined the sums on deposit in the Basic Carrying Costs Sub-Account and the Basic Carrying Costs Escrow Account may be applied by Lender based on Marriott’s periodic reporting obligations under the Management Agreement and/or Manager’s Subordination in payment of any Basic Carrying Costs or otherwise, this Section 2.11(e)(i)(x) shall only apply may be applied to the payment of Impositions not the Debt or any other charges affecting all or any portion of the Property as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise reserved for and paid until actually made by Manager pursuant to the Management Agreement and/or the Manager’s SubordinationLender as herein provided.