Excess Costs. In the event any Replacement or Repair exceeds the approved cost set forth on the Required Replacement Schedule for Replacements, or the Maximum Repair Cost for Repairs, Borrower may submit a disbursement request to reimburse Borrower for such excess cost. The disbursement request must contain support for why Lender should allow such disbursement. Lender may make disbursements from the Replacement Reserve Account or the Repairs Escrow Account, as applicable, if:
Appears in 6 contracts
Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.), Multifamily Loan and Security Agreement (Independence Realty Trust, Inc), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Excess Costs. In the event any Replacement or Repair exceeds the approved cost set forth on the Required Replacement Schedule for Replacements, or the Maximum Repair Cost for Repairs, Borrower may submit a disbursement request to reimburse Borrower for such excess cost. The disbursement request must contain support be in writing and include an explanation for why Lender should allow such disbursementrequest. Lender may shall make disbursements from the Replacement Reserve Account or the Repairs Escrow Account, as applicable, if:
Appears in 2 contracts
Samples: Master Credit Facility Agreement (Steadfast Apartment REIT, Inc.), Master Credit Facility Agreement (Brookdale Senior Living Inc.)
