Replacement Reserve
Requirements
You must ensure 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 funded as follows:
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The Property
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The BorrowerBorrowerPerson who is the obligor per the Note. must fully fund 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. . |
The Property
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You must determine 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. funding per Part II, Chapter 4: Inspections and Reserves, Section 404: Replacement Reserve.
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The Property is located in
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You must determine 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. funding per Part II, Chapter 4: Inspections and Reserves, Section 404: Replacement Reserve. |