Tax and Insurance Escrow. Supplementing the provisions of Sections 5.4 and 5.5 hereof, and if required by Mortgagee, Mortgagor shall pay to Mortgagee on the payment date of installments of interest as provided in the Note, together with and in addition to such installments of interest, an installment of the Impositions and insurance premiums for such insurance as is required hereunder, next due on the Mortgaged Property in an amount sufficient, as estimated by Mortgagee, to accumulate the sum required to pay such Impositions and insurance, as applicable, thirty (30) days prior to the due date thereof. Amounts held hereunder shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and no interest shall be payable with respect thereto. Upon demand of Mortgagee, Mortgagor shall deliver to Mortgagee, within ten (10) days after such demand, such additional money as is necessary to make up any deficiencies in the amounts necessary to enable Mortgagee to pay such Impositions and insurance premiums when due. In case of an Event of Default, Mortgagee may apply any amount under this Section remaining to Mortgagor's credit to the reduction of the Obligations, at such times and in such manner as Mortgagee shall determine. Notwithstanding anything contained herein to the contrary, Mortgagee will not enforce its rights to require an escrow hereunder unless an Event of Default has occurred or if a material adverse change in the financial condition of Mortgagor shall occur.
Tax and Insurance Escrow. If the Lender requests, I will make regular monthly payments to the Lender of: (a) 1/12 of the yearly real estate taxes and assessments on the Property; and (b) 1/12 of the yearly cost of insurance on the Property. These payments will be held by the Lender without interest to pay the taxes, assessments and insurance premiums as they become due.
Tax and Insurance Escrow. If this Mortgage or THE NOTES secured hereby are in default, and if required by THE BANK, MORTGAGOR shall pay to THE BANK on the payment due date of each payment as provided in THE NOTE, any assessments or charges imposed upon the Mortgaged Property or any part thereof by any party, whether public or private, (hereinafter referred to as "Impositions") together with and in addition to such payments, a payment representing the amount of the Impositions and insurance premiums for such insurance as is required by THE BANK, next due on the Mortgaged Property in an amount sufficient, as estimated by THE BANK, to accumulate the sum required to pay such Impositions and insurance, as applicable, thirty (30) days prior to the due date thereof. Amounts held hereunder shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds of THE BANK, and no interest shall be payable with respect thereto. Upon demand of THE BANK, MORTGAGOR shall deliver to THE BANK within ten (l0) days after such demand, such additional money as is necessary to make up any deficiencies in amounts necessary to enable THE BANK to pay such Impositions and insurance premiums when due. In case of an even of default, THE BANK may apply any amount under this section remaining to MORTGAGOR'S credit to the reduction of THE NOTE, at such times and in such manner as THE BANK shall determine.
Tax and Insurance Escrow. If the Lender requests, I will make regular monthly payments to the Lender of:
Tax and Insurance Escrow. If required by Mortgagee, Mortgagor shall pay to Mortgagee monthly, or periodically as required by Mortgagee, an installment of taxes and assessments levied and assessed or to be levied and assessed on the Property, and installment of insurance premiums that will become due and payable to renew required insurance, in amounts sufficient to accumulate the sums required to satisfy such taxes, assessments, and insurance premiums when due. Mortgagee shall comply with all state and federal laws, rules and regulations that may at any time exist for establishing the sums to be paid into escrow, the management thereof, the payment of taxes, assessments, and insurance premiums, and accounting therefor to Mortgagor.
Tax and Insurance Escrow. Maker shall pay to Payee with each Monthly Installment, an amount equal to one-twelfth (1/12th) of the annual real estate taxes and assessments (if any) on the Mortgaged Property and an amount equal to one-twelfth (1/12th) of the annual insurance premiums, as estimated by Payee, to be held by Payee in a non-interest bearing account for payment of said taxes, assessments and insurance premiums.
Tax and Insurance Escrow. On request, at the option of Mortgagee, Mortgagor will pay to Mortgagee monthly, in addition to each monthly payment required by this Mortgage or under the Notes, a sum equivalent to one-twelfth of the amount estimated by Mortgagee to be sufficient to enable Mortgagee to pay, at least thirty (30) days before they become due, all taxes, assessments, and other similar charges levied against the premises, and all insurance premiums on any policy or policies of insurance required by this Mortgage. The additional payments may be commingled with the general funds of Mortgagee, and no interest shall be payable on those payments. On demand by Mortgagee, Mxxxxxxxx will deliver and pay over to Mortgagee any additional sums necessary to make up any deficiency in the amount necessary to enable Mortgagee to fully pay when due any of the preceding items. In the event of any default by Mxxxxxxxx in performing any of the terms of this Mortgage, Mortgagee may apply against the indebtedness, in the manner that Mortgagee may de ine, any funds of Mortgagor then held by Mortgagee under this paragraph.
Tax and Insurance Escrow. In order to secure the performance and discharge of Grantor's obligations under subparagraphs (b), (f) and (g) of this Paragraph 2.2, but not in lieu of such obligations, Grantor will upon written request of the Collateral Agent, deposit with the Collateral Agent upon the occurrence and continuance of a Default, a sum equal to accrued and unpaid ad valorem taxes, assessments and charges (which charges for the purpose of this subparagraph shall include without limitation ground rents and water and sewer rents and any other recurring charge which could create or result in a lien against the Property) against the Property for the then current year and the accrued and unpaid premiums for such policies of insurance for the then current year, all as reasonably estimated by the Collateral Agent and prorated to the end of the calendar month following the month during which such Default occurred, and thereafter will deposit with the Collateral Agent, sufficient funds (as reasonably estimated from time to time by the Collateral Agent) to permit the Collateral Agent to pay, at least 5 days prior to the delinquency
Tax and Insurance Escrow. If required by TDF during the continuance of a Default or Event of Default, the Company shall deposit quarterly with TDF during the term of this Agreement, in an interest bearing account (to the extent permitted under the Trust Agreement and otherwise permitted under law), a sum equal to one-fourth of the yearly taxes and assessments which may be levied against the Property, and one-fourth of the yearly premiums for insurance thereon, Any insufficiency of such account to pay such taxes, assessments and premiums when due, shall be paid by the Company into the aforesaid account upon demand by TDF. The amount of all deposits required to be made hereunder for taxes and assessments shall be calculated assuming that the maximum discounts allowable under the then current law for the early payment of taxes and assessments shall be taken: TDF hereby covenants and agrees with the Company to pay all taxes and assessments within the period entitling the Company to the maximum discount available by law for the payment of such taxes and assessments. If, by reason of any default by the Company under the Operative Documents, TDF declares all sums secured thereby to be due and payable, TDF may then apply any funds in said account against the entire outstanding balance due TDF.
Tax and Insurance Escrow. While an Event of Default exists, at Agent’s option, in order to implement the provisions of Sections 3.10(a) and 3.12 hereof, Grantor shall pay to Agent monthly, annually, or as otherwise directed by Agent, an amount (“Escrowed Sums”) equal to the sum of (a) the annual Impositions (reasonably estimated by Agent, wherever necessary) to become due for the tax year during which such payment is so directed and (b) the insurance premiums for the same year for those insurance policies as are required hereunder. If Agent reasonably determines that any amounts paid by Grantor are insufficient for the payment in full of such Impositions and insurance premiums, Agent shall notify Grantor of the increased amounts required to provide sufficient funds, whereupon Grantor shall pay to Agent within 10 days thereafter the additional amount as stated in Agent’s notice. The Escrowed Sums may be held by Agent in non-interest bearing accounts and may be commingled with Agent’s other funds. Without limiting the foregoing, while an Event of Default exists, Agent shall have the option of crediting the Escrowed Sums against the Obligations.
