Common use of Release of Tax Funds Clause in Contracts

Release of Tax Funds. Provided no Enforcement has occurred and is continuing, Lender shall direct Servicer to apply Tax Funds in the Tax Account to payments of Taxes (subject to Borrower’s right to contest the same in accordance with Section 4.6). In making any payment relating to Taxes, Lender may do so according to any bxxx, statement or estimate procured from the appropriate public office (with respect to Taxes) without inquiry into the accuracy of such bxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof. If the amount of the Tax Funds shall exceed the amounts due for Taxes and provided that no Trigger Period exists, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Tax Funds. Any Tax Funds remaining in the Tax Account after the Obligations have been paid in full or a Trigger Period is no longer continuing shall be returned to Borrower.

Release of Tax Funds. Provided no Enforcement has occurred Event of Default shall exist and is continuingremain uncured, Lender shall direct Servicer to apply Tax Funds in the Tax Account to payments of Taxes (subject to Borrower’s right to contest the same in accordance with Section 4.6). In making any payment relating to Taxes, Lender may do so according to any bxxxxxxx, statement or estimate procured from the appropriate public office (with respect to Taxes) without inquiry into the accuracy of such bxxxxxxx, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof. If the amount of the Tax Funds shall exceed the amounts due for Taxes and provided that no Trigger Period exists, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Tax Funds. Any Tax Funds remaining in the Tax Account after the Obligations have been paid in full or a Trigger Period is no longer continuing shall be returned to Borrower.