Impound Account definition

Impound Account. The account that Trustor may be required to maintain pursuant to Section 4.6.2. of this Deed of Trust for the deposit of amounts required to pay Impositions and insurance premiums.

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Impound Account means the account that Trustor may be required to maintain pursuant to Section 4.6.2. of this Deed of Trust for the deposit of amounts required to pay Impositions and insurance premiums.

Impound Account means the account that Trustor may be required to maintain pursuant to Section 4.6.2 of this Deed of Trust for the deposit of amounts required to pay Impositions and insurance premiums.

Examples of Impound Account in a sentence

If, however, the Impound Account does not contain sufficient funds to pay the sums required when the same become due and payable, Borrower shall, within ten (10) days after receipt of written notice thereof, deposit with Lender the full amount of any such deficiency.
The Impound Account shall not constitute a trust fund and may be commingled with other monies held by L▇▇▇▇▇.
In making any payment from the Impound Account, L▇▇▇▇▇ shall be entitled to rely on any bill, statement, or estimate procured from the appropriate public office or insurance company or agent without any inquiry into the accuracy of such bill, statement, or estimate and without any inquiry into the accuracy, validity, enforceability, or contestability of any tax, assessment, valuation, sale, forfeiture, tax lien or title or claim thereof.
So long as no Default or Event of Default has occurred and is continuing, all sums in the Impound Account shall be used to pay taxes and insurance premiums (including flood insurance premiums) before the same become delinquent.

More Definitions of Impound Account

Impound Account is defined in Section 5.3.

Impound Account. Section 1.2

Impound Account has the meaning given to such term in Section 9.2 of this Agreement.

Impound Account. As such term is defined in Section 11.1(e).

Impound Account. The meaning set forth in Section 3.1.

Impound Account shall have the meaning set forth in Section 1.09(c).

Impound Account shall have the meaning set forth in Section 4.6 hereof.