Tax Funds. 49 Section 9.2. Insurance Premium Funds..........................................50 Section 9.3. Ordinary Capital Expenditures Funds..............................51
Tax Funds. (a) Borrower shall cause Mortgage Borrower to comply with all the terms and conditions set forth in Section 6.2 of the Mortgage Loan Agreement.
Tax Funds. 57 6.2.1 Deposit of Tax Funds.........................................................................57
Tax Funds. 139 SECTION 6.4
Tax Funds. Borrower shall deposit with Lender (a) on the Closing Date $57,139.49 and (b) on each Payment Date, an amount equal to one-twelfth of the Property Taxes that Lender estimates will be payable with respect to the Properties during the next ensuing twelve (12) months (initially, $14,964.45 per month), which amounts shall be transferred into a Subaccount (the “Tax Subaccount”). Amounts deposited into the Tax Subaccount are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay Property Taxes becoming due, Lender may so notify Borrower, and then commencing with the first Payment Date thereafter, the monthly deposits for Tax Funds shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective due dates for the Property Taxes; provided that if Borrower receives notice of any deficiency after the tenth day prior to the date that Property Taxes are due, Borrower will deposit with Lender such amount within one Business Day after receipt of such notice. Lender shall release Tax Funds to pay Property Taxes due, subject to such conditions as Lender may reasonably require, including that Lender shall have received Property Tax statements for the same not less than thirty (30) days before the due dates thereof, the Tax Funds on deposit with Lender shall be sufficient therefor and no Event of Default shall exist.
Tax Funds. 65 Insurance Funds.......................................................................................................................66 FF&E Reserve Funds.................................................................................................................66 Intentionally Omitted…………………………………………………...............69
Tax Funds. HOA Funds 115
Tax Funds. Borrower shall deposit with Lender on the Monthly Payment Date an amount (the "MONTHLY TAX DEPOSIT") equal to one-twelfth of the Taxes that Lender estimates will be payable during the next ensuing twelve (12) months in order to accumulate with Lender sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates (such amounts so deposited shall hereinafter be referred to as the "TAX FUNDS") provided, however, that Borrower shall not be required to make a Monthly Tax Deposit with respect to Taxes that are paid directly to the taxing authority by anchor tenants at an Individual Property or with respect to Taxes that are paid by such anchor tenants to Borrower on other than a monthly basis (in which event Borrower shall make deposits to the Tax Account of such Taxes paid by such anchor tenants to Borrower, as and when such anchor tenants are required to pay such Taxes to Borrower).
Tax Funds. 48 Section 6.2 Insurance Premium Funds...............................................................49 Section 6.3 Capital Expenditures Funds............................................................50 Section 6.4 Security Interest in Funds............................................................51 Section 6.5 The Accounts; Permitted Investments; Earnings.........................................52 Section 6.6 Cash Management.......................................................................53
Tax Funds. 17 March 31, 2003
