Common use of Excess Monies Clause in Contracts

Excess Monies. Lender may apply on account of the Obligations any unexpended monies still retained by ▇▇▇▇▇▇ that were paid by Grantor to Lender: (a) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (b) to secure the performance of some act by Grantor.

Appears in 2 contracts

Sources: Credit Line Deed of Trust, Construction Mortgage

Excess Monies. Lender may apply on account of the Obligations any unexpended monies still retained by ▇▇▇▇▇▇ Lender that were paid by Grantor to Lender: (a) for the payment of, or as security for the payment of taxes, assessments or other governmental charges, insurance premiums, or any other charges; or (b) to secure the performance of some act by Grantor.

Appears in 1 contract

Sources: Deed of Trust, Security Agreement