Common use of Deposits of Insurance Funds Clause in Contracts

Deposits of Insurance Funds. Borrower shall deposit with or on behalf of Agent (i) on the Closing Date, an amount equal to $31,053.50 and (ii) on each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Agent estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof (initially $31,053.50) in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.

Deposits of Insurance Funds. Borrower Borrowers shall deposit with or on behalf of Agent (i) on the Closing Date, an amount equal to $31,053.50 163,209.27 and (ii) on each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Agent estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof (initially $31,053.50) 163,209.27), or any greater amount, in each case, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower Borrowers of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.

Deposits of Insurance Funds. Borrower shall deposit with or on behalf of Agent Lender (i) on the Closing Date, an amount equal to $31,053.50 32,056.26 and (ii) on each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Agent Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof (initially initially, $31,053.50) 6,327.72), in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Agent Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.

Deposits of Insurance Funds. Borrower shall deposit with or on behalf of Agent (i) on the Closing Date, an amount equal to $31,053.50 410,399.38 and (ii) on each Monthly Payment Date, an amount equal to one-twelfth of the Insurance Premiums that Agent estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof (initially $31,053.5034,199.95) in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.