Common use of General rules for regular payments of taxes Clause in Contracts

General rules for regular payments of taxes. After the interest adjustment date, if we ask, you must pay us regular payments of property taxes. We'll estimate the amount we want to hold to pay the property taxes (but it won't be more than we'll need to pay the taxing authority over its next financial year). You must pay the estimate by equal regular payments on the dates on which the instalments are payable. We can choose to fix the regular payments once a year even if we pay the taxes more often. If the actual property taxes are more than our estimate, you must also pay the difference to us. We can choose to increase the regular payment of property taxes to cover it or add the difference to your loan.