Administration/Inspection Fee. Lender shall be entitled to charge Borrower a reasonable processing fee for administering and reviewing an Escrow Release, not to exceed $500.00. Lender shall also be entitled to charge Borrower reasonable processing fees both for reviewing any renewal or replacement Letter of Credit which Borrower is required to provide as well as for drawing upon any Letter of Credit held pursuant to the terms hereof (the processing fee for reviewing any renewal or replacement Letter of Credit shall not exceed $250.00). Borrower shall be responsible for payment of all costs, fees and charges in connection with any reduction, renewal or replacement of the Letter of Credit which are assessed by the issuing bank. Additionally, Lender shall be entitled to charge Borrower for any reasonable costs incurred by Lender in inspecting the Premises, not to exceed $750.00.
Appears in 7 contracts
Samples: Property Reserves Agreement (VMS National Properties Joint Venture), Property Reserves Agreement (VMS National Properties Joint Venture), Property Reserves Agreement (VMS National Properties Joint Venture)
