Replacement Reserve

Requirements

If the Replacement ReserveReplacement ReserveCustodial Account established by the Lender and funded by deposits from the Borrower over the term of the Mortgage Loan to fund the replacement of capital items at the Property. determined by the Property Condition AssessmentProperty Condition AssessmentAssessment of the current physical condition and historical operation of the Property. is more than $75 per MH SiteMH SiteDeveloped lot within an MH Community on which a Manufactured Home can be located. , full funding of the Replacement ReserveReplacement ReserveCustodial Account established by the Lender and funded by deposits from the Borrower over the term of the Mortgage Loan to fund the replacement of capital items at the Property. is required per Part II, Chapter 4: Inspections and Reserves, Section 404: Replacement Reserve.