Real Estate Taxing Authorities. (a) On the Transfer Date, for all loans, Seller shall, at Seller's expense, transfer to Purchaser full life of loan tax service contracts with FARETS. The tax service contracts are to provide Purchaser with complete tax procurement and payment services. Seller agrees to provide to Purchaser, in an electronic format acceptable to Purchaser, the information necessary to effectuate the establishment of tax service on the Transfer Date for all fifty (50) states.
Real Estate Taxing Authorities. (a) Prior to each applicable Servicing Transfer Date, Seller shall be responsible for any tax penalties incurred due to incorrect or missing tax records processed or provided by Seller or Seller’s tax service agent to Purchaser.
Real Estate Taxing Authorities. 12 Delivery of Mortgage Loan Documentation and Information. ................... 12
Real Estate Taxing Authorities. (ar) Seller shall be responsible for any tax penalties incurred due to incorrect or missing tax records processed or provided by Seller or Seller’s tax service agent to Purchaser with respect to records processed or provided prior to the Servicing Transfer Date.
Real Estate Taxing Authorities. (a) Prior to each applicable Servicing Transfer Date, Sellers shall be responsible for any tax penalties incurred due to incorrect or missing tax records processed or provided by any such Seller or such Seller’s tax service agent to Purchaser. (b) If a Mortgage Loan is escrowed, the related Seller shall pay or cause to be paid, prior to each applicable Servicing Transfer Date, all tax bills (including any applicable penalties and interest) with tax due dates prior to or within thirty (30) calendar days following such Servicing Transfer Date, but only if the tax xxxx was issued by the taxing authority at least thirty (30) calendar days prior to such Servicing Transfer Date. Purchaser shall pay or cause to be paid all other tax bills when due. Such Seller will promptly forward tax bills issued by the taxing authority less than thirty (30) calendar days prior to such Servicing Transfer Date, to be paid by Purchaser. (c) Purchaser shall not be responsible for any tax penalties on escrowed Mortgage Loans (including any loss of discount for which a Mortgagor or any third party for the benefit of the Mortgagor has a legal claim) on Mortgage Loans for which the related tax due date occurs prior to or within thirty (30) calendar days following the applicable Servicing Transfer Date, but only if the tax xxxx was issued by the taxing authority at least thirty (30) calendar days prior to such Servicing Transfer Date. Purchaser shall be responsible for any other tax penalties. (d) For all escrowed Mortgage Loans, the related Seller shall provide to Purchaser within two (2) Business Days after the applicable Servicing Transfer Date a current list of such Mortgage Loans that have taxes or assessments that were due prior to or within sixty (60) calendar days after such Servicing Transfer Date and not paid, and Purchaser shall be responsible for payment thereof when due. (e) If the related Seller does not provide to Purchaser a life of loan tax service contract for a Mortgage Loan that is not a Subserviced Mortgage Loan, such Seller shall provide customary information relating to such real estate taxes as may be reasonably required by Purchaser or Purchaser’s tax monitoring vendor. Section 7.05
