Common use of Required Repairs Clause in Contracts

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower shall establish on the date hereof an account with Lender or Lender's agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT") into which Borrower shall deposit on the date hereof the amount of $0.00. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS".

Appears in 1 contract

Sources: Loan Agreement (Sun Communities Inc)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Property Condition Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's ’s agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.00, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Strategic Storage Trust, Inc.)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Property Condition Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's ’s agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.000, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (AmREIT, Inc.)

Required Repairs. (a) Borrower Borrowers shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower Borrowers shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower Borrowers shall establish on the date hereof an account Eligible Account with Lender or Lender's agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.00, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Extra Space Storage Inc.)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Property Condition Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's ’s agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.00. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Gladstone Commercial Corp)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I 9.1 and as more particularly described in the Physical Conditions Property Condition Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I.9.1. (b) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's ’s agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.00328,125, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Glimcher Realty Trust)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I (if any) and as more particularly described in the Physical Conditions Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (ba) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.00. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds”.

Appears in 1 contract

Sources: Loan Agreement (Bedford Property Investors Inc/Md)

Required Repairs. (a) Borrower Borrowers shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower Borrowers shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower Borrowers shall establish on the date hereof an account Eligible Account with Lender or Lender's agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.00, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Extra Space Storage Inc.)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.0023,250.00, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Extra Space Storage Inc.)

Required Repairs. (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule I and as more particularly described in the Physical Conditions Property Condition Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "REQUIRED REPAIRS"“Required Repairs”). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the date hereof or within such other time frame for completion specifically set forth on Schedule I. (b) Borrower shall establish on the date hereof an account Eligible Account with Lender or Lender's ’s agent to fund the Required Repairs (the "REQUIRED REPAIR ACCOUNT"“Required Repair Account”) into which Borrower shall deposit on the date hereof the amount of $0.000, which amount equals 125% of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "REQUIRED REPAIR FUNDS"“Required Repair Funds.

Appears in 1 contract

Sources: Loan Agreement (Acadia Realty Trust)