Common use of Payment Reserve Clause in Contracts

Payment Reserve. Contemporaneously with the execution hereof, Borrower has established with Lender a temporary reserve in the amount equal to one (1) regular monthly installment of principal, interest and all required reserves, deposits or impounds under the Loan Documents (the “Payment Reserve”). Borrower understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So long as no Default has occurred hereunder, Lender shall on the first Payment Date under the Note, advance from the Payment Reserve to itself the amount due and payable by Borrower under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes and Other Charges and Insurance Premiums and into each other Reserve the amount of any deposit required to be paid for such purpose by Borrower on such Payment Date pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into the Payment Reserve after the disbursement of the funds held therein as aforesaid, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note and the Impound Account and other Reserve deposits referenced above in this subparagraph on such Payment Date, Borrower shall be responsible for paying such deficiency on the due date of any such payments.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower Grantor has established with Lender Grantee a temporary reserve in the amount equal to one two (12) regular monthly installment installments of principal, interest and all required reserves, deposits or impounds under the Loan Documents as calculated by Grantee (the “"Payment Reserve”"). Borrower Grantor understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So No interest on funds contained in the Payment Reserve shall be paid by Grantee to Grantor. (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender Grantee shall on the first two (2) monthly Payment Date Dates (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower Grantor under the Note on such monthly Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve (as hereinafter defined) the amount of any deposit for Repairs (as hereinafter defined) and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for by Grantor concurrently with each such purpose by Borrower on such Payment Date monthly installment pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred after the final disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to BorrowerGrantor. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower Grantor of any obligation to make payments under the Note, this Mortgage Security Deed or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower Grantor shall be responsible for paying such deficiency on the due date Payment Date of any such paymentsmonthly installment.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower has established with Lender a temporary reserve in the amount equal to one of the first (11st) regular monthly installment payment of principal, interest and all deposits for any applicable reserves or escrow accounts required reserves, deposits or impounds under the terms of this Deed of Trust or the other Loan Documents as calculated by Lender (the “Payment Reserve”). Borrower understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So . (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender shall shall, on the first First Payment Date (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower under the Note on such the First Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve (as hereinafter defined) the amount of any deposit for Repairs (as hereinafter defined) and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for such purpose by Borrower on concurrently with such Payment Date monthly installment pursuant to the terms hereofhereof and thereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred, after the scheduled disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage Deed of Trust or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower shall be responsible for paying such deficiency on the due date of any such paymentsFirst Payment Date.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower Mortgagor has established with Lender Mortgagee a temporary reserve in the amount equal to of one (1) regular monthly installment of principal, interest the Monthly Payment and all deposits for any applicable reserves or escrow accounts required reserves, deposits or impounds under the terms of this Mortgage or the other Loan Documents as calculated by Mortgagee (the “Payment Reserve”). Borrower Mortgagor understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So No interest on funds contained in the Payment Reserve shall be paid by Mortgagee to Mortgagor. (b) For so long as no Event of Default has occurred hereunderand is continuing hereunder or under any of the other Loan Documents, Lender shall Mortgagee shall, on the first monthly Payment Date under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower Mortgagor under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve the amount of any deposit for Replacements and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for by Mortgagor concurrently with each such purpose by Borrower on such Payment Date monthly installment pursuant to the terms hereofhereof and thereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred and is continuing, after the final scheduled disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to BorrowerMortgagor. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any Mortgagor from its obligation to make payments under the Note, this Mortgage or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note Monthly Payment and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower Mortgagor shall be responsible for paying such deficiency on the due date Payment Date of any such paymentsmonthly installment.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower has established with Lender a temporary reserve in the amount equal to one of the first (11st) regular monthly installment payment of principal, interest and all deposits for any applicable reserves or escrow accounts required reserves, deposits or impounds under the terms of this Security Deed or the other Loan Documents as calculated by Lender (the “Payment Reserve”). Borrower understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So . (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender shall shall, on the first First Payment Date (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower under the Note on such the First Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve (as hereinafter defined) the amount of any deposit for Repairs (as hereinafter defined) and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for such purpose by Borrower on concurrently with such Payment Date monthly installment pursuant to the terms hereofhereof and thereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred, after the scheduled disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage Security Deed or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower shall be responsible for paying such deficiency on the due date of any such paymentsFirst Payment Date.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower has established with Lender a temporary reserve in the amount equal to one of the first (11st) regular monthly installment payment of principal, interest and all deposits for any applicable reserves or escrow accounts required reserves, deposits or impounds under the terms of this Mortgage or the other Loan Documents as calculated by Lender (the “Payment Reserve”). Borrower understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So . (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender shall shall, on the first First Payment Date (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower under the Note on such the First Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve (as hereinafter defined) the amount of any deposit for Repairs (as hereinafter defined) and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for such purpose by Borrower on concurrently with such Payment Date monthly installment pursuant to the terms hereofhereof and thereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred, after the scheduled disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower shall be responsible for paying such deficiency on the due date of any such paymentsFirst Payment Date.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower Mortgagor has established with Lender Mortgagee a temporary reserve in the amount equal to one [two (12) regular monthly installment installments of principal, interest and all required reserves, deposits or impounds under the Loan Documents impounds] as calculated by Mortgagee (the “"Payment Reserve”"). Borrower Mortgagor understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So No interest on funds contained in the Payment Reserve shall be paid by Mortgagee to Mortgagor. (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender Mortgagee shall on the first two (2) monthly Payment Date Dates (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower Mortgagor under the Note on such monthly Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve (as hereinafter defined) the amount of any deposit for Repairs (as hereinafter defined) and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for by Mortgagor concurrently with each such purpose by Borrower on such Payment Date monthly installment pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred after the final disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to BorrowerMortgagor. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower Mortgagor of any obligation to make payments under the Note, this Mortgage or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower Mortgagor shall be responsible for paying such deficiency on the due date Payment Date of any such paymentsmonthly installment.

Payment Reserve. Contemporaneously with the execution hereof, Borrower Bxxxxxxx has established with Lender a temporary reserve in the amount equal to one (1) regular monthly installment of principal, interest and all required reserves, deposits or impounds under the Loan Documents (the “Payment Reserve”). Borrower Bxxxxxxx understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So long as no Default has occurred hereunder, Lender shall on the first Payment Date under the Note, advance from the Payment Reserve to itself the amount due and payable by Borrower under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes and Other Charges and Insurance Premiums and into each other Reserve the amount of any deposit required to be paid for such purpose by Borrower on such Payment Date pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into the Payment Reserve after the disbursement of the funds held therein as aforesaid, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage Deed of Trust or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note and the Impound Account and other Reserve deposits referenced above in this subparagraph on such Payment Date, Borrower shall be responsible for paying such deficiency on the due date of any such payments.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower has established with Lender a temporary payment reserve in the amount equal to one (1) regular monthly installment of principal, interest and all required reserves, deposits or impounds under the Loan Documents (the “"Payment Reserve”"). Borrower understands and agrees that, notwithstanding the establishment of There shall be no funds in the Payment Reserve as herein required, all of the proceeds of the Note have beendate hereof, and shall but funds may be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So long as no Default has occurred hereunder, Lender shall on the first Payment Date under the Note, advance from later deposited into the Payment Reserve to itself the amount due and payable by Borrower under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes and Other Charges and Insurance Premiums and into each other Reserve the amount of any deposit required to be paid for such purpose by Borrower on such Payment Date pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into the Payment Reserve after the disbursement of the funds held therein as aforesaid, this Section 1.7 and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained in the Payment Reserve shall be paid by Lender to Borrower. Lockbox Agreement. (b) Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage Security Instrument or the other Loan Documents strictly in accordance with the terms hereof or thereof andthereof. The Payment Reserve shall constitute additional security for the indebtedness secured hereby, and may be commingled with the general funds of Lender or Lender's loan servicer. Any interest which accrues on funds in this regard, without limiting the generality of the foregoing, should the amounts Payment Reserve shall belong to Lender and no interest on funds contained in the Payment Reserve not shall be sufficient paid by Lender to pay Borrower. (c) Following a Triggering Event (as defined in full the amount due under Lockbox Agreement), amounts shall be paid into the Note and Payment Reserve pursuant to the Impound Account and other Reserve deposits referenced above in this subparagraph terms of the Lockbox Agreement. In the event that on such any Payment Date, Borrower fails to pay the full amount of principal and interest due under the Note, then without limiting any other remedies of Lender under the Loan Documents, Lender may draw upon the Payment Reserve to pay such amount, without further notice to or instruction from Borrower. Upon the termination of any DSCR Sweep Period (as defined in the Lockbox Agreement), all amounts on deposit in the Payment Reserve shall be responsible for paying such deficiency on the due date of any such paymentsdisbursed to Borrower.

Payment Reserve. Contemporaneously with the execution hereof, Borrower has established with Lender a temporary reserve in the amount equal to one (1) regular monthly installment A portion of principal, interest and all required reserves, deposits or impounds under the Loan Documents funds being $3,200,000.00 will be deposited by the Lender into the Payment Reserve Account and will be held by the Lender as cash collateral for the Loan (the “Payment Reserve”). Borrower understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So long as no Default has occurred hereunder, Lender shall on the first Payment Date under the Note, advance from the Payment Reserve to itself the amount due and payable by Borrower under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes and Other Charges and Insurance Premiums and into each other Reserve the amount of any deposit required to be paid for such purpose by Borrower on such Payment Date pursuant subject to the terms hereof. Borrower shall not be obligated to make any further deposits into the Payment Reserve after the disbursement following: (1) No portion of the funds held therein as aforesaid, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained in the Payment Reserve shall be available for disbursement to the Borrower or any Guarantor at any time, except as otherwise expressly set forth herein. (2) If any monthly payment of Principal and Interest due under the Note (the “Monthly Note Payments”) is not paid as and when due thereunder, the Lender may, but shall not be obligated to, Loan Agreement disburse funds from the Payment Reserve (including the Permanent Reserve) to be applied to such Monthly Note Payments. If the Payment Reserve is applied to the Loan under the terms hereof, the Borrower shall replenish the Payment Reserve within thirty (30) days’ notice thereof from Lender. Application by the Lender of funds from the Payment Reserve as a result of any breach by Borrower of its obligations to Borrower. pay the Monthly Note Payments shall only cure such breach if the Payment Reserve is replenished as required hereunder. (3) All applications of the Payment Reserve to the Monthly Note Payments under Section 8.02(b) shall be handled directly by the Lender and applied to the Monthly Note Payments then due on the Note by internal administrative accounting procedures without prior notice to any Borrower or Guarantor (but notice shall be given to Borrower within a reasonable time thereafter). (4) Nothing contained hereinherein shall adversely affect the Borrower's independent obligations and undertakings under any Loan Documents, including, without limitationbut not limited to, Obligations relating to payment of the Monthly Note Payments or any other sums and monthly payments due under the Loan and the Note. (5) At the Borrower’s request, the existence Lender will release any amounts remaining in the Payment Reserve less the Permanent Reserve (as defined below) subject to satisfaction of the following conditions: (i) the Borrower’s written request for release is received by the Lender any time after April 6, 2024; (ii) the DSC Ratio is satisfied as measured by the Lender on a trailing twelve (12) month basis (using such financial statement or documents reasonable requested by Lender that are available to Borrower at the time of Xxxxxxxx’s written request for release of the Payment Reserve, and which shall not, for the avoidance of doubt, require Borrower to provide the Federal US Corporation Income Tax Return Form 1120 proforma required by Section 6.02 hereof if such Borrower is unable to fully complete such tax return form at the time of Xxxxxxxx’s written request for release Borrower of any obligation to make payments the Payment Reserve); and (iii) no Event of Default has occurred and is continuing. The Lender will affect the release under the Note, this Mortgage or the other Loan Documents strictly in accordance with the terms hereof or thereof and, Section 8.02(e) within ten (10) business days of all conditions in this regard, without limiting Section 8.02(e) being satisfied. (6) At the generality time of the foregoingrelease under Section 8.02(e), should the amounts contained in the Payment Reserve not shall have a remaining balance of $1,200,000.00 (the “Permanent Reserve”), which shall be sufficient held by the Lender under this Section 8.02 during the life of the Loan, subject to pay in full the amount due under the Note its use and replenishment pursuant to Section 8.02(b) of this Loan Agreement. (7) The Payment Reserve and the Impound Account and other Reserve deposits referenced above in this subparagraph on such Payment Date, Borrower account into which it is deposited shall be responsible for paying such deficiency on subject to the due date of any such paymentsLender’s customary Assignment, Pledge, and Security Agreement to be executed by JREHVA.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower Grantor has established with Lender Beneficiary a temporary reserve in the amount equal to one (1) regular monthly installment of principal, interest and all required reserves, deposits or impounds under the Loan Documents (the “"Payment Reserve”"), as determined by Beneficiary. Borrower Grantor understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So No interest on funds contained in the Payment Reserve shall be paid by Beneficiary to Grantor. (b) For so long as no Default has occurred hereunder, Lender Beneficiary shall on the first Payment Date under (as defined in the Note), advance from the Payment Reserve to itself the amount due and payable by Borrower Grantor under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other Reserve the amount of any deposit required to be paid for such purpose by Borrower Grantor on such Payment Date pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into Provided no Default has occurred after the disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaid, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to BorrowerGrantor. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower Grantor of any obligation to make payments under the Note, this Mortgage Deed of Trust or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note and the Impound Account and other Reserve deposits referenced above in this subparagraph on such Payment Date, Borrower Grantor shall be responsible for paying such deficiency on the due date of any such payments. Grantor shall not be obligated to replenish the Payment Reserve once funds are disbursed therefrom.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower Bxxxxxxx has established with Lender a temporary reserve in the amount equal to one of the first (11st) regular monthly installment payment of principal, interest and all deposits for any applicable reserves or escrow accounts required reserves, deposits or impounds under the terms of this Deed of Trust or the other Loan Documents as calculated by Lxxxxx (the “Payment Reserve”). Borrower Bxxxxxxx understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So . (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender shall shall, on the first First Payment Date (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower under the Note on such the First Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes taxes and Other Charges and Insurance Premiums insurance premiums and into each other the Replacement Reserve (as hereinafter defined) the amount of any deposit for Repairs (as hereinafter defined) and into any other reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for such purpose by Borrower on concurrently with such Payment Date monthly installment pursuant to the terms hereofhereof and thereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred, after the scheduled disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage Deed of Trust or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account Account, Replacement Reserve and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower shall be responsible for paying such deficiency on the due date of any such paymentsFirst Payment Date.

Payment Reserve. (a) Contemporaneously with the execution hereof, Borrower has Borrowers have established with Lender a temporary reserve in the amount equal to one of the first (11st) regular monthly installment payment of principal, interest and all deposits for any applicable reserves or escrow accounts required reserves, deposits or impounds under the terms of this Agreement or the other Loan Documents as calculated by Lender (the “Payment Reserve”). Borrower understands Borrowers understand and agrees agree that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So No interest on funds contained in the Payment Reserve shall be paid by Lender to Borrowers. (b) For so long as no Event of Default has occurred hereunderhereunder or under any of the other Loan Documents, Lender shall shall, on the first First Payment Date (as defined in the Note) under the Note, advance from the Payment Reserve to itself the amount of the monthly installment due and payable by Borrower Borrowers under the Note on such the First Payment Date and and, to the extent a Cash Trap Period exists, shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes Assessments and Other Charges and Insurance Premiums insurance premiums and into each any other Reserve reserve account the amount of any deposit in accordance with the terms of any other Loan Document required to be paid for by Borrowers concurrently with such purpose by Borrower on such Payment Date monthly installment pursuant to the terms hereofhereof and thereof. Borrower shall not be obligated to make any further deposits into Provided no Default or Event of Default has occurred, after the scheduled disbursement from the Payment Reserve after the disbursement of the funds held therein as aforesaidReserve, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained any amounts then remaining in the Payment Reserve shall be paid by Lender to BorrowerBorrowers. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower Borrowers of any obligation to make payments under the Note, this Mortgage Agreement or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note monthly installments and the Impound Account and any other Reserve applicable reserve account deposits referenced above in this subparagraph on such Payment Datesubparagraph, Borrower Borrowers shall be responsible for paying such deficiency on the due date of any such paymentsFirst Payment Date.

Payment Reserve. Contemporaneously with the execution hereof, Borrower has established with Lender a temporary reserve in the amount equal to one (1) regular monthly installment of principal, interest and all required reserves, deposits or impounds under the Loan Documents (the “Payment Reserve”). Borrower understands and agrees that, notwithstanding the establishment of the Payment Reserve as herein required, all of the proceeds of the Note have been, and shall be considered, fully disbursed and shall bear interest and be payable on the terms provided therein. So long as no Default has occurred hereunder, Lender shall on the first Payment Date under the Note, advance from the Payment Reserve to itself the amount due and payable by Borrower under the Note on such Payment Date and shall also advance from the Payment Reserve into the Impound Account the amount of any deposit for Taxes and Other Charges and Insurance Premiums and into each other Reserve the amount of any deposit required to be paid for such purpose by Borrower on such Payment Date pursuant to the terms hereof. Borrower shall not be obligated to make any further deposits into the Payment Reserve after the disbursement of the funds held therein as aforesaid, and the Payment Reserve shall terminate upon such disbursement. No interest on funds contained in the Payment Reserve shall be paid by Lender to Borrower. Nothing contained herein, including, without limitation, the existence of the Payment Reserve, shall release Borrower of any obligation to make payments under the Note, this Mortgage Deed of Trust or the other Loan Documents strictly in accordance with the terms hereof or thereof and, in this regard, without limiting the generality of the foregoing, should the amounts contained in the Payment Reserve not be sufficient to pay in full the amount due under the Note and the Impound Account and other Reserve deposits referenced above in this subparagraph on such Payment Date, Borrower shall be responsible for paying such deficiency on the due date of any such payments.