Tax and Insurance Escrow. Upon the request of Mortgagee, but only on the occurrence of an Event of Default, Mortgagor shall pay or cause to be paid to Mortgagee on the first day of each month a sum equal to one-twelfth (1/12) of the amount of (a) all real estate taxes, water and sewer charges and assessments, if any, as estimated from time to time by Mortgagee, becoming due with respect to the Mortgaged Property on the next succeeding date upon which the same shall be due and payable and (b) all premiums, computed on an annual basis, for the insurance required to be carried pursuant to paragraph 4 hereof. All such amounts (hereinafter, the “Escrows”) shall be held by Mortgagee in such manner as it sees fit without any obligation to invest the same or (if invested) to account for any income or loss resulting therefrom; provided however, that if and to the extent that Mortgagee is required under applicable law to invest the escrows for the benefit of Mortgagor, Mortgagee shall also have the right to charge a reasonable service fee in connection therewith unless prohibited under such law. The Escrows shall be applied to the payment of the respective items in respect of which the Escrows are deposited, or at Mortgagee’s option, to the payment of any such items in such order of priority as Mortgagee shall determine. If, as the same become due and payable, the amount of Escrows then on deposit therefor shall be insufficient to pay such item, Mortgagor within five (5) days after demand is made therefor shall deposit the amount of such deficiency with Mortgagee. If there is an event of default hereunder, Mortgagee may at its option apply the Escrows or any part thereof in payment of any unpaid portion of the Aggregate Debt. If, when making any assignment of this Open End Mortgage and Security Agreement, the then Mortgagee shall pay over to its assignee the then balance of the Escrows, such assigning Mortgagee shall have no further obligation to Mortgagor with respect to such deposits.
Tax and Insurance Escrow. If the Lender requests, I will make regular monthly payments to the Lender of: (a) 1/12 of the yearly real estate taxes and assessments on the Property; and (b) 1/12 of the yearly cost of insurance on the Property. These payments will be held by the Lender without interest to pay the taxes, assessments and insurance premiums as they become due.
Tax and Insurance Escrow. If this Mortgage or THE NOTES secured hereby are in default, and if required by THE BANK, MORTGAGOR shall pay to THE BANK on the payment due date of each payment as provided in THE NOTE, any assessments or charges imposed upon the Mortgaged Property or any part thereof by any party, whether public or private, (hereinafter referred to as "Impositions") together with and in addition to such payments, a payment representing the amount of the Impositions and insurance premiums for such insurance as is required by THE BANK, next due on the Mortgaged Property in an amount sufficient, as estimated by THE BANK, to accumulate the sum required to pay such Impositions and insurance, as applicable, thirty (30) days prior to the due date thereof. Amounts held hereunder shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of THE BANK, and no interest shall be payable with respect thereto. Upon demand of THE BANK, MORTGAGOR shall deliver to THE BANK within ten (l0) days after such demand, such additional money as is necessary to make up any deficiencies in amounts necessary to enable THE BANK to pay such Impositions and insurance premiums when due. In case of an even of default, THE BANK may apply any amount under this section remaining to MORTGAGOR'S credit to the reduction of THE NOTE, at such times and in such manner as THE BANK shall determine.
Tax and Insurance Escrow. If required by Mortgagee, Mortgagor shall pay to Mortgagee monthly, or periodically as required by Mortgagee, an installment of taxes and assessments levied and assessed or to be levied and assessed on the Property, and installment of insurance premiums that will become due and payable to renew required insurance, in amounts sufficient to accumulate the sums required to satisfy such taxes, assessments, and insurance premiums when due. Mortgagee shall comply with all state and federal laws, rules and regulations that may at any time exist for establishing the sums to be paid into escrow, the management thereof, the payment of taxes, assessments, and insurance premiums, and accounting therefor to Mortgagor.
Tax and Insurance Escrow. Maker shall pay to Payee with each Monthly Installment, an amount equal to one-twelfth (1/12th) of the annual real estate taxes and assessments (if any) on the Mortgaged Property and an amount equal to one-twelfth (1/12th) of the annual insurance premiums, as estimated by Payee, to be held by Payee in a non-interest bearing account for payment of said taxes, assessments and insurance premiums.
Tax and Insurance Escrow. On or prior to the execution of this Agreement, to ensure that sufficient funds are available for the payment of real estate taxes, and fire, hazard or other ASSUMPTION AGREEMENT Page 4 insurance premiums, an escrow account will be established with Servicer, with payments to be made by New Borrower to such account in the amount required by Noteholder and/or Servicer. By execution of this Agreement, Original Borrower acknowledges and agrees that it relinquishes any right, title or interest it has or may have in any escrow account held by Servicer in connection with the Property.
Tax and Insurance Escrow. If required by Mortgagee, Mortgagor shall pay to Mortgagee on the payment date of installments of interest as provided in the Note, together with and in addition to such installments of interest, an installment of the Impositions and insurance premiums for such insurance as is required hereunder, next due on the Mortgaged Property in an amount sufficient, as reasonably estimated by Mortgagee, to accumulate the sum required to pay such Impositions and insurance next due, as applicable, thirty (30) days prior to the due date hereof. Amounts held hereunder shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and no interest shall be payable with respect thereto. Upon demand of Mortgagee, Mortgagor shall deliver to Mortgagee, within ten (10) days after such demand, such additional money as is necessary to make up any deficiencies in the amounts necessary to enable Mortgagee to pay such Impositions and insurance premiums when due. In case of an Event of Default, Mortgagee may apply any amount under this Section remaining to Mortgagor's credit to the reduction of the Obligation at such times and in such manner as Mortgagee shall determine.
Tax and Insurance Escrow. On request, at the option of Mortgagee, Mortgagor will pay to Mortgagee monthly, in addition to each monthly payment required by this mortgage or under the Secured Term Note, a sum equivalent to one-twelfth of the amount estimated by Mortgagee to be sufficient to enable Mortgagee to pay, at least 30 days before they become due, all taxes, assessments, and other similar charges levied against the premises, and all insurance premiums on any policy or policies of insurance required by this mortgage. The additional payments may be commingled with the general funds of Mortgagee, and no interest shall be payable on those payments. On demand by Mortgagee, Mortgagor will deliver and pay over to Mortgagee any additional sums necessary to make up any deficiency in the amount necessary to enable Mortgagee to fully pay when due any of the preceding items. In the event of any default by Mortgagor in performing any of the terms of this mortgage, Mortgagee may apply against the indebtedness, in the manner that Mortgagee may determine, any funds of Mortgagor then held by Mortgagee under this paragraph.
Tax and Insurance Escrow. In order to assure the payment of Taxes and premiums with respect to all insurance coverage required pursuant to Section 8 of the Mortgage (collectively, "Insurance Premiums") as and when the same shall become due and payable, the following provisions shall apply:
Tax and Insurance Escrow. In order to secure the performance and discharge of Grantor's obligations under subparagraphs (b), (f) and (g) of this Paragraph 2.2, but not in lieu of such obligations, Grantor will upon written request of the Collateral Agent, deposit with the Collateral Agent upon the occurrence and continuance of a Default, a sum equal to accrued and unpaid ad valorem taxes, assessments and charges (which charges for the purpose of this subparagraph shall include without limitation ground rents and water and sewer rents and any other recurring charge which could create or result in a lien against the Property) against the Property for the then current year and the accrued and unpaid premiums for such policies of insurance for the then current year, all as reasonably estimated by the Collateral Agent and prorated to the end of the calendar month following the month during which such Default occurred, and thereafter will deposit with the Collateral Agent, sufficient funds (as reasonably estimated from time to time by the Collateral Agent) to permit the Collateral Agent to pay, at least 5 days prior to the delinquency
