Replacement Reserve

Requirements

The minimum Replacement Reserve Replacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. amount must equal the greatest of:

• the amount calculated per  Part II, Chapter 4: Lease Audits, Inspections, and Reserves, Section 406: Replacement Reserve ;
• $300 per unit per year for a Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). with no Skilled Nursing Skilled NursingSeniors Housing Property with units that are highly regulated and provide 24-hour resident supervision and registered nursing care services. units; or
• $450 per unit per year for a Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). with any Skilled Nursing Skilled NursingSeniors Housing Property with units that are highly regulated and provide 24-hour resident supervision and registered nursing care services. units.