Common use of Required Repairs Clause in Contracts

Required Repairs. DEPOSITS. Borrower shall perform the repairs at the Property set forth on SCHEDULE 2 annexed hereto (the "Required Repairs"). Borrower shall complete each of the Required Repairs on or before the deadline for same set forth on SCHEDULE 2. On the Closing Date, Borrower shall deposit with Lender the amount set forth on SCHEDULE 2 hereto to perform the Required Repairs for the Property. Amounts so deposited with Lender (the "Required Repair Fund") shall be held by Lender in an account (the "Required Repair Account") in Lender's name at a financial institution selected by Lender in its sole discretion and shall be invested in Permitted Investments.

Required Repairs. DEPOSITS. Borrower shall perform the repairs at the Property set forth on SCHEDULE 2 Schedule 3 annexed hereto (the "Required Repairs"). Borrower shall complete each of the Required Repairs on or before the deadline for same set forth on SCHEDULE 2Schedule 3. On the Closing Date, Borrower shall deposit with Lender the amount set forth on SCHEDULE 2 Schedule 3 hereto to perform the Required Repairs for the Property. Amounts so deposited with Lender (the "Required Repair Fund") shall be held by Lender in an account (the "Required Repair Account") in Lender's name at a financial institution selected by Lender in its sole discretion and shall be invested in Permitted Investments.