Common use of Installments for Insurance, Taxes and Other Charges Clause in Contracts

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's request, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "Escrow Charges"). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's requestrequest at any time following the occurrence of an Event of Default, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "Escrow Charges"). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's request, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "Escrow ChargesESCROW CHARGES"). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon the demand of the Mortgagee's request, if required by Mortgagee, and without limiting the effect of Paragraphs 2 and 5 hereof, Mortgagor shall pay to Mortgagee, monthly with the Mortgagee monthlymonthly installments of principal and interest, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions real estate taxes, water charges and sewer rents, any special assessments, charges or claims and any other item which at any time may be or become a lien upon the Mortgaged Property (prior to the "Escrow Charges"). The lien of this Mortgage; and on demand from time to time Mortgagor shall pay to Mortgagee any additional sums necessary to pay the premiums and other items all as estimated by Mortgagee; the amounts so paid shall be security for the premiums and other items and shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurredthereof if Mortgagor is not otherwise in default hereunder. No amount so paid to the Mortgagee shall be deemed to be trust fundsfunds but may be commingled with general funds of Mortgagee, nor and no interest shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such paymentsbe payable thereon. If, at pursuant to any timeprovision of this Mortgage, the funds being held by whole amount of the Mortgagee for any insurance premium or Imposition are exhaustedunpaid principal debt becomes due and payable, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable entire indebtedness secured hereby. At Mortgagee’s option, Mortgagee from time to time may waive, in such order as the Mortgagee may deem fitwriting, and after any such waiver may reinstate, the Mortgagor hereby grants to provisions of this paragraph requiring the Mortgagee a lien upon and security interest in such amounts for such purposemonthly payments.

Installments for Insurance, Taxes and Other Charges. Upon Without limiting the Mortgagee's requesteffect of Paragraphs 2 or 5 hereof, upon default in the payment thereof, the Mortgagee may thereafter require the Mortgagor shall to pay to the Mortgagee monthlyMortgagee, monthly with the monthly installments of principal and interest, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions real estate taxes, water and sewer rents, any special assessments, charges or claims and any other item which at any time may be or become a lien upon the Mortgaged Property (prior to the "Escrow Charges")lien of this Mortgage; and on demand from time to time the Mortgagor shall pay to the Mortgagee any additional sums necessary to pay the premiums and other items, all as estimated by the Mortgagee. The amounts so paid shall be used in payment of thereof if the Escrow Charges so long as no Event of Default shall have occurredMortgagor is not otherwise in default hereunder. No amount so paid to the Mortgagee shall be deemed to be trust fundsfunds but may be commingled with general funds of the Mortgagee, nor and no interest shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such paymentsbe payable thereon. If, at pursuant to any timeprovision of this Mortgage, the funds being held by whole amount of the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Defaultunpaid principal debt becomes due and payable, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as entire indebtedness secured hereby. At the Mortgagee's option, the Mortgagee from time to time may deem fitwaive, and after any such waiver may reinstate, the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purposeprovisions of this Paragraph requiring monthly payments.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's request’s request at any time following the occurrence of an Event of Default, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "“Escrow Charges"”). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurredCharges. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the The Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon Without limiting the Mortgagee's requesteffect of Paragraphs 4 and 5 hereof, the Mortgagor shall Beneficiary may, in its sole discretion, require Grantor to pay to Beneficiary (or to such other entity as Beneficiary shall designate), monthly with the Mortgagee monthlymonthly installments of principal and interest, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions real estate taxes, water and sewer rents, any special assessments, charges or claims and any other item lien which at any time may be or become a lien upon the Mortgaged Property (prior to the "Escrow Charges")lien of this Deed of Trust; and on demand from time to time Grantor shall pay to Beneficiary any additional sums necessary to pay the premiums and other items, all as estimated by Beneficiary. The amounts so paid shall be security for the premiums and other items and shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurredthereof if Grantor is not otherwise in default hereunder. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor funds but may be commingled with general funds of Beneficiary and no interest shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such paymentsbe payable thereon. If, at pursuant to any timeprovision of this Deed of Trust or the Note, the funds being held by whole amount of the Mortgagee for any insurance premium or Imposition are exhaustedunpaid principal debt becomes due and payable, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee Beneficiary shall have the right, at in its electionsole and absolute discretion, to apply any amount so held against the Obligations due and payable held, in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts as Beneficiary may elect, against: (a) any amounts payable by Grantor hereunder or under the Loan Documents, and/or (b) accrued and unpaid interest under the Note, and/or (c) the outstanding principal balance of the Note. At Beneficiary’s option, Beneficiary from time to time may waive, and after any such waiver may reinstate, the provisions of this paragraph requiring the monthly payments. Grantor will furnish to Beneficiary bills and other requests for payment in sufficient time to enable Beneficiary to pay such purposetaxes, assessments, levies, charges and fees as provided above.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's request’s request upon the occurrence and during the continuance of a Default and/or an Event of Default, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property Land and Improvements (the "“Escrow Charges"”). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon Without limiting the Mortgagee's requesteffect of Sections 4 and 5, but subject to the Mortgagor shall terms of Section 5(b) of the Loan Agreement, Lender may, in its sole discretion, require Borrower to pay to Lender (or to such other entity as Lender shall designate), monthly with the Mortgagee monthlymonthly installments of principal and interest, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions real estate taxes, water and sewer rents, any special assessments, charges or claims and any other item lien which at any time may be or become a lien upon the Mortgaged Property (prior to the "Escrow Charges")lien of this Deed of Trust; and on demand from time to time Borrower shall pay to Lender any additional sums necessary to pay the premiums and other items, all as estimated by Lender. The amounts so paid shall be security for the premiums and other items and shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurredthereof if Borrower is not otherwise in default hereunder. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor funds but may be commingled with general funds of Lender and no interest shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such paymentsbe payable thereon. If, at pursuant to any timeprovision of this Deed of Trust or the Note, the funds being held by whole amount of the Mortgagee for any insurance premium or Imposition are exhaustedunpaid principal debt becomes due and payable, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee Lender shall have the right, at in its electionsole and absolute discretion, to apply any amount so held against the Obligations due and payable held, in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts as Lender may elect, against: (a) any amounts payable by Borrower hereunder or under the Loan Documents, and/or (b) accrued and unpaid interest under the Note, and/or (c) the outstanding principal balance of the Note. At Lender’s option, Lender from time to time may waive, and after any such waiver may reinstate, the provisions of this Section requiring the monthly payments. Borrower will furnish to Lender bills and other requests for payment in sufficient time to enable Lender to pay such purposetaxes, assessments, levies, charges and fees as provided above.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's request’s request at any time following the occurrence and during the continuance of an Event of Default, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "“Escrow Charges"”). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurredoccurred and be continuing. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiencydeficiency (provided that at such time, an Event of Default shall have occurred and be continuing). Upon the occurrence and during the continuance of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's requestLender’s request after the occurrence of an Event of Default, the Mortgagor Grantor shall pay to the Mortgagee Lender monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "“Escrow Charges"”). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgagee Lender shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee Lender shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee Lender for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee Lender for any insurance premium or Imposition are exhausted, or if the Mortgagee Lender determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor Grantor shall promptly pay to the MortgageeLender, upon demand, an amount which the Mortgagee Lender shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee Lender shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee Lender may deem fit, and the Mortgagor Grantor hereby grants to the Mortgagee Lender a lien upon and security interest in such amounts for such purpose.

Installments for Insurance, Taxes and Other Charges. Upon Unless otherwise required under the Mortgagee's requestPrior Mortgages and without limitation of anything else herein contained, Mortgagor, after the Mortgagor occurrence of an Event of Default, shall pay to Mortgagee at the Mortgagee monthlytime when each installment of interest is payable under the Notes, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred required pursuant to hereinabove Section 3.1.1 above and the annual Impositions real estate taxes, water and sewer rents, any special assessments, charges or claims and any other item which at any time may be or become a lien upon the Mortgaged Property (prior to the "Escrow Charges")lien of this Mortgage; and on demand from time to time Mortgagor shall pay to Mortgagee, any additional sums necessary to pay such taxes and other items in full when due, all as estimated by Mortgagee in good faith. The amounts so paid shall be security for payment of such taxes and other items and shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurredthereof if Mortgagor is not otherwise in default hereunder. No amount so paid to the Mortgagee shall be deemed to be trust fundsfunds but may be commingled with general funds of Mortgagee, nor and no interest shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such paymentsbe payable thereon. If, at pursuant to any timeprovision of this Mortgage, the funds being held by whole amount of the Mortgagee for any insurance premium or Imposition are exhaustedunpaid principal debt becomes due and payable, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its electionelection or upon the request of the Institutional Investors, to apply any amount so held against the Obligations due entire indebtedness secured hereby. At Mortgagee's option, Mortgagee from time to time may waive and payable in after any such order as waiver may reinstate the Mortgagee may deem fit, and provisions of this Section requiring the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purposemonthly payments.

Installments for Insurance, Taxes and Other Charges. Upon the Mortgagee's request’s request during the continuance of an Event of Default, the Mortgagor shall pay to the Mortgagee monthly, an amount equal to one-twelfth (1/12) of the annual premiums for the insurance policies referred to hereinabove and the annual Impositions and any other item which at any time may be or become a lien upon the Property (the "“Escrow Charges"”). The amounts so paid shall be used in payment of the Escrow Charges so long as no Event of Default shall have occurred. No amount so paid to the Mortgagee shall be deemed to be trust funds, nor shall any sums paid bear interest. The Mortgagee shall have no obligation to pay any insurance premium or Imposition if at any time the funds being held by the Mortgagee for such premium or Imposition are insufficient to make such payments. If, at any time, the funds being held by the Mortgagee for any insurance premium or Imposition are exhausted, or if the Mortgagee determines, in its sole discretion, that such funds will be insufficient to pay in full any insurance premium or Imposition when due, the Mortgagor shall promptly pay to the Mortgagee, upon demand, an amount which the Mortgagee shall estimate as sufficient to make up the deficiency. Upon the occurrence of an Event of Default, the Mortgagee shall have the right, at its election, to apply any amount so held against the Obligations due and payable in such order as the Mortgagee may deem fit, and the Mortgagor hereby grants to the Mortgagee a lien upon and security interest in such amounts for such purpose.