Common use of Deferred Maintenance Escrow Account, Replacement Reserve Account and Leasing Costs/TI Costs Account Clause in Contracts

Deferred Maintenance Escrow Account, Replacement Reserve Account and Leasing Costs/TI Costs Account. (i) On or before the Closing Date, Borrower shall establish and maintain with the Collateral Agent three separate accounts for Capital Improvement Costs, replacement reserves, Leasing Commissions and TI Costs, each of which shall be an Eligible Account and shall have the same title as the Collection Account, for the benefit of the Lenders until the Loan is paid in full. The three accounts shall be designated the Deferred Maintenance Escrow Account (the “Deferred Maintenance Escrow Account”), the Replacement Reserve Account (the “Replacement Reserve Account”), and the Leasing Costs/TI Costs Account (the “Leasing Costs/TI Costs Account”). If required by Agent, on any Advance Closing Date, Agent shall deposit out of the proceeds of an Advance in the Deferred Maintenance Escrow Account for the Borrower an amount for required Capital Improvement Costs to be incurred with respect to the related Property being acquired, based upon the Engineering Reports delivered to Agent and the reasonable determination of the Agent of any additional necessary amounts. On each Payment Date, if required in writing by the Agent, Borrower shall instruct the Collateral Agent in the Payment Date Statement to deposit from the Collection Account (or if the funds for such deposit are not available pursuant to Section 3.12(b), shall make a deposit of Borrower’s funds) in the Replacement Reserve Account, equal to the Replacement Reserve Amount and in the Leasing Costs/TI Costs Account, equal to the Leasing Costs/TI Costs Amount.

Deferred Maintenance Escrow Account, Replacement Reserve Account and Leasing Costs/TI Costs Account. (i) On or before the Closing Date, Borrower Lender shall establish on behalf of Borrower and maintain with the Collateral Agent three Collection Account Bank four separate accounts for Capital Improvement Costsdeferred maintenance, replacement reserves, Leasing Commissions cash Security Deposits and TI Costsleasing costs, each of which shall be an Eligible Account and shall have the same title as the Collection Account, for the benefit of the Lenders Lender, until the Loan is paid in full. The three four accounts shall be designated the “Deferred Maintenance Escrow Account Account” (the “Deferred Maintenance Escrow Account”), the Replacement Reserve Account (the “Replacement Reserve Account”), and the Leasing Costs/TI Costs Account Account” (the “Leasing Costs/TI Costs Account”), the “Replacement Reserve Account” (the “Replacement Reserve Account”) and the “Security Deposit Account” (the “Security Deposit Account”). If required by Agent, on any Advance On the Closing Date, Agent Lender shall deposit out of the Loan proceeds of an Advance $5,625.00 in the Deferred Maintenance Escrow Account, $41,869.00 in the Leasing Costs/TI Costs Account for and $6,498.96 in the Borrower an amount for required Capital Improvement Costs to be incurred with respect to the related Property being acquired, based upon the Engineering Reports delivered to Agent and the reasonable determination of the Agent of any additional necessary amountsReplacement Reserve Account. On each Payment Date, if required in writing by the Agent, Borrower shall instruct the Collateral Agent in the Payment Date Statement to deposit from the Collection Account (or if the funds for such deposit are not available pursuant to Section 3.12(b2.12(b), shall make a an additional deposit of Borrower’s fundsfunds sourced from equity capital contributions) in to the Replacement Reserve Account, of an amount equal to the Replacement Reserve Amount $6,498.96 per month, and in the Leasing Costs/TI Costs Account, equal to the Leasing Costs/TI Costs AmountAccount an amount equal to $41,869.00 per month. Borrower may request withdrawals from the Replacement Reserve Account pursuant to the procedure set forth in Section 2.13(a)(iii) below. Borrower may request withdrawals from the Leasing Costs/TI Costs Account pursuant to the procedure set forth in Section 2.13(a)(iv) below.

Deferred Maintenance Escrow Account, Replacement Reserve Account and Leasing Costs/TI Costs Account. (i) On or before the Closing Date, Borrower Lender shall establish on behalf of Borrower and maintain with the Collateral Agent three Collection Account Bank four separate accounts for Capital Improvement Costsdeferred maintenance, replacement reserves, Leasing Commissions cash Security Deposits and TI Costsleasing costs, each of which shall be an Eligible Account and shall have the same title as the Collection Account, for the benefit of the Lenders Lender, until the Loan is paid in full. The three four accounts shall be designated the “Deferred Maintenance Escrow Account Account” (the “Deferred Maintenance Escrow Account”), the Replacement Reserve Account (the “Replacement Reserve Account”), and the Leasing Costs/TI Costs Account Account” (the “Leasing Costs/TI Costs Account”), the “Replacement Reserve Account” (the “Replacement Reserve Account”) and the “Security Deposit Account” (the “Security Deposit Account”). If required by Agent, on any Advance On the Closing Date, Agent Lender shall deposit out of the Loan proceeds of an Advance $0.00 in the Deferred Maintenance Escrow Account, $52,246.00 in the Leasing Costs/TI Costs Account for and $8,083.33 in the Borrower an amount for required Capital Improvement Costs to be incurred with respect to the related Property being acquired, based upon the Engineering Reports delivered to Agent and the reasonable determination of the Agent of any additional necessary amountsReplacement Reserve Account. On each Payment Date, if required in writing by the Agent, Borrower shall instruct the Collateral Agent in the Payment Date Statement to deposit from the Collection Account (or if the funds for such deposit are not available pursuant to Section 3.12(b2.12(b), shall make a an additional deposit of Borrower’s fundsfunds sourced from equity capital contributions) in to the Replacement Reserve Account, of an amount equal to the Replacement Reserve Amount $8,083.33 per month, and in the Leasing Costs/TI Costs Account, equal to the Leasing Costs/TI Costs AmountAccount an amount equal to $52,246.00 per month. Borrower may request withdrawals from the Replacement Reserve Account pursuant to the procedure set forth in Section 2.13(a)(iii) below. Borrower may request withdrawals from the Leasing Costs/TI Costs Account pursuant to the procedure set forth in Section 2.13(a)(iv) below.