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Impound Account definition

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 is defined in Section 5.3.
Impound Account. Section 1.2

Examples of Impound Account in a sentence

  • In making any payment from the Impound Account, Lender shall be entitled to rely on any xxxx, statement or estimate procured from the appropriate public office or insurance company or agent without any inquiry into the accuracy of such xxxx, 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 no event has occurred or failed to occur which with the passage of time, the giving of notice, or both would constitute an Event of Default (a “Default”), all sums in the Impound Account shall be held by Lender in the Impound Account to pay said taxes, assessments and insurance premiums before the same become delinquent.

  • Borrower shall be responsible for ensuring the receipt by Lender, at least thirty (30) days prior to the respective due date for payment thereof, of all bills, invoices and statements for all taxes, assessments and insurance premiums to be paid from the Impound Account, and so long as no Event of Default has occurred, Lender shall pay the governmental authority or other party entitled thereto directly to the extent funds are available for such purpose in the Impound Account.

  • No interest on funds contained in the Impound Account, if any, shall be paid by Mortgagee to Mortgagor.

  • No such application of the Impound Account shall be deemed to cure any Default or Event of Default hereunder.


More Definitions of Impound Account

Impound Account has the meaning given to such term in Section 9.2 of this Agreement.
Impound Account shall have the meaning set forth in Section 1.09(c).
Impound Account. The meaning set forth in Section 3.1.
Impound AccountThe account that Trustors 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 shall have the meaning set forth in Section 5.3.
Impound Account has the meaning assigned in Schedule 3.4.
Impound Account means the definition set forth in Section 2.17 below.