Common use of Insurance and Taxes Clause in Contracts

Insurance and Taxes. BUYER shall maintain fire and extended coverage insurance on the Property with mortgagee’s coverage sufficient to cover SELLER’S/Lender’s interest in the Property and shall provide SELLER/Lender with proof thereof on an annual basis. BUYER shall pay for mortgagee’s title insurance policy and all other costs associated with obtaining and perfecting the Note and Mortgage/Deed of Trust, including credit report, mortgage registration tax, if any, and recording fees.

Insurance and Taxes. BUYER shall maintain fire and extended coverage insurance on the Property with mortgagee’s coverage sufficient to cover SELLER’S/LenderXxxxxx’s interest in the Property and shall provide SELLER/Lender with proof thereof on an annual basis. BUYER shall pay for mortgagee’s title insurance policy and all other costs associated with obtaining and perfecting the Note and Mortgage/Deed of Trust, including credit report, mortgage registration tax, if any, and recording fees.