Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month such amounts as Mortgagee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund").
Tax and Insurance Fund. 11 Taxes ...................................................................................................10
Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month such amounts as Mortgagee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund"). Notwithstanding the foregoing provisions of this clause (a), Mortgagor shall not be required to create and maintain a reserve fund from which to pay real estate taxes, assessments and other charges as long as all of the following conditions remain satisfied:
Tax and Insurance Fund. Borrower shall pay to Lender on the first day of each calendar month such amounts as Lender from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Lender to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the “Tax and Insurance Fund”). Notwithstanding the foregoing provisions of this clause (a), Borrower shall not be required to create and maintain a reserve fund from which to pay hazard insurance premiums as long as all of the following conditions remain satisfied:
Tax and Insurance Fund. 10 Taxes..........................................................................9 Tenant Improvement and Leasing Commission Reserve Fund........................11
Tax and Insurance Fund. Grantor shall pay to Grantee on the first day of each calendar month such amounts as Grantee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the Loan No. 6518403 expiration thereof, the insurance premiums for the Policies estimated by Grantee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "TAX AND INSURANCE FUND").
Tax and Insurance Fund. Tenant shall pay to the Landlord on account of such real property taxes and insurance expenses on the first day of each month such respective amounts as Landlord shall from time to time estimate and so notify Tenant are required for Landlord to establish a fund (which shall not bear interest) with which to pay such taxes and expenses before delinquency except that, with respect to the first partial month's and first full calendar month's taxes and expenses, Tenant shall pay its pro-rata share of the same concurrently with Tenant's first delivery to Landlord of Tenant's-executed counterparts of this Lease. Tenant's pro-rata share of insurance expenses and real property taxes payable pursuant to paragraph 16 may be treated as insurance expenses or real property taxes, as appropriate, pursuant to this paragraph, and vice versa. Landlord shall deliver to Tenant at least once annually a statement setting forth the actual real property taxes and insurance expenses allocable to the Premises and the basis for computing the same. If such actual taxes and expenses exceed Tenant's payments hereunder, Tenant shall pay the deficiency to Landlord within five (5) days after receipt of such statement. If payments made by Tenant for such year exceed such actual taxes and expenses, Tenant shall be entitled to credit the excess against payments next coming due to Landlord for such taxes and expenses.
Tax and Insurance Fund. Trustor shall pay to Beneficiary on the first day of each calendar month such amounts as Beneficiary from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other METRO SQUARE SHOPPING CENTER LOAN NO. 6518303 Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Beneficiary to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "TAX AND INSURANCE FUND").
Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month an amount equal to (i) one-twelfth of an amount which would be sufficient to pay, at least thirty (30) days prior to the date the Taxes and Other Charges are due without the payment of any penalties or interest, the Taxes and Other Charges estimated by Mortgagee to be payable, during the next ensuing twelve (12) months and (ii) one-twelfth of an amount which would be sufficient to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund").
Tax and Insurance Fund. Trustor shall pay to Beneficiary on the first day of each calendar month such amounts as Beneficiary from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Beneficiary to be payable on such due date (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund"). The foregoing provisions of this subparagraph (a) to the contrary notwithstanding, Beneficiary shall suspend the requirement that the Trustor fund and maintain a reserve fund for insurance premiums for the Policies as long as all of the following conditions remain satisfied: (i) no Event of Default shall have occurred and remain uncured, (ii) the original Trustor named in this Deed of Trust (the "Original Trustor") is and remains at all times the owner of the Folsom Trust Property, (iii) the Original Trustor complies with all obligations in this Deed of Trust and the other Loan Documents regarding insurance, including without limitation providing Beneficiary with timely evidence (1) that the required insurance coverage is in place and in full force and effect for the Folsom Trust Property and is never suspended nor are payments for insurance premiums ever delinquent, and (2) that all insurance premiums are paid in full and (iv) the Lease and subleases (collectively, the "CISOC Leases") with California Independent System Operator Corporation ("CISOC") demising approximately 52,186 square feet of the rentable space in the Improvements are and remain in full force and effect, and CISOC is and remains in actual occupancy of its demised premises and is paying rents according to the respective terms of the CISOC Leases, and there is no default at any time under the CISOC Leases. Provided that there are no defaults under the Loan Documents, the funds on deposit in the Tax and Insurance Fund shall only be used for the purpose for which such reserve is created and for no other purposes.
