Common use of Real Estate Taxing Authorities Clause in Contracts

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. (b) If a Mortgage Loan is escrowed, 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. 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 each 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, Seller shall provide to Purchaser within two (2) Business Days after each 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 Seller does not provide to Purchaser a life of loan tax service contract for a Mortgage Loan, Seller shall provide all information required by Purchaser or Purchaser’s tax monitoring vendor with respect to such real estate taxes.

Real Estate Taxing Authorities. (a) Prior to each applicable Servicing 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 a tax service on the Transfer Date for all fifty (50) states. (b) 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. (bc) If a Mortgage Loan is escrowed, Seller shall pay or cause to be paid, prior to each applicable Servicing the Transfer Date, all tax bills (including any applicable penalties and interest) with tax due dates prior to or within thirty sixty (3060) calendar days following such Servicing the Transfer Date, but only if the such tax xxxx was bills have been issued by the taxing authority and received by Seller at least thirty five (305) calendar days Business Days prior to such Servicing the Transfer Date. Purchaser shall pay or cause to be paid all other tax bills when due. 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. (cd) 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 (i) prior to the Transfer Date, or (ii) prior to or within thirty sixty (3060) calendar days following each applicable Servicing the Transfer Date, but only if the tax xxxx was issued by the taxing authority and received by Seller at least thirty five (305) calendar days Business Days prior to such Servicing the Transfer Date. Purchaser shall be responsible for any other tax penalties. (de) For all escrowed Mortgage Loans, Seller shall provide to Purchaser within two (2) Business Days after each applicable Servicing the Transfer Date a current list of such Mortgage Loans that have taxes or assessments that were (i) due prior to or within sixty (60) calendar days after such Servicing the Transfer Date and not paid, and Purchaser shall be responsible for payment thereof when duepaid or (ii) due within ninety (90) calendar days after the Transfer Date. (e) If Seller does not provide to Purchaser a life of loan tax service contract for a Mortgage Loan, Seller shall provide all information required by Purchaser or Purchaser’s tax monitoring vendor with respect to such real estate taxes.

Real Estate Taxing Authorities. (a) Prior to each applicable Servicing Transfer Date, Seller 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 each 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 each 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 all customary information relating to such real estate taxes as may be reasonably required by Purchaser or Purchaser’s tax monitoring vendor with respect to such real estate taxesvendor.

Real Estate Taxing Authorities. (a) Prior For the period prior to each the 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. (b) If a Mortgage Loan is escrowed, Seller shall pay or cause to be paid, prior to each the 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 the applicable Servicing Transfer Date, but only if the such tax xxxx was bills have been issued by the taxing authority and received by Seller at least thirty five (305) calendar days Business Days prior to such the applicable Servicing Transfer Date. Purchaser shall pay or cause to be paid all other tax bills when due. 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 any escrowed Mortgage Loans Loan (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 each the applicable Servicing Transfer Date, but only if the tax xxxx was issued by the taxing authority and received by Seller at least thirty five (305) calendar days Business Days prior to such applicable Servicing Transfer Date. Purchaser shall be responsible for any other tax penalties. (d) For all escrowed Mortgage Loans, Seller shall provide to Purchaser within two (2) Business Days after each applicable Servicing Transfer Date a current list of such Mortgage Loans that have taxes or assessments that were due prior to or within sixty thirty (6030) calendar days after such Servicing Transfer Date and not paid, and Purchaser shall be responsible for payment thereof when due. (e) If Seller does not shall immediately provide Purchaser with all tax bills received by Seller relating to Purchaser a life of loan tax service contract for a Mortgage Loan, Loan at any time prior to the date that is 30 days past the applicable Servicing Transfer Date. (f) Seller shall provide all information required by Purchaser or Purchaser’s tax monitoring vendor with respect to such real estate taxes.

Real Estate Taxing Authorities. (a) Prior to each applicable Servicing Transfer Date, Seller 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 each 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 each 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 all customary information relating to such real estate taxes as may be reasonably required by Purchaser or Purchaser’s tax monitoring vendor with respect to such real estate taxes.vendor. Section 7.05

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. (b) If a Mortgage Loan is escrowed, Seller shall pay or cause to be paid, prior to each applicable Servicing Transfer Date, paid all tax bills (including any applicable penalties and interest) with if a failure to pay such tax due dates prior to on or within thirty (30) calendar before 30 days following such after the relevant Servicing Transfer DateDate would result in the assessment of a penalty for being past due and such payment is required of the servicer under the Applicable Requirements, but only if the tax xxxx bxxx 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 duedue to the extent such payment is required of the servicer under the Applicable Requirements. Seller will promptly forward any tax bills issued by the taxing authority less other than thirty (30) calendar days prior to such Servicing Transfer Date, those to be paid by PurchaserSeller in accordance with the first sentence of this sub-paragraph. To the extent that any payments of taxes made by Seller pursuant to the first sentence of this sub-paragraph are not included in the Advance Reimbursement Amount, Purchaser shall promptly reimburse Seller for such payments upon Seller’s delivery to Purchaser of documentation of such payments sufficient to permit Purchaser to recover such payments from any applicable trust in accordance with any Applicable Requirements. (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 it is the related tax due date occurs prior responsibility of Seller to or within thirty (30) calendar days following each applicable Servicing Transfer Date, but only if make the tax xxxx was issued by the taxing authority at least thirty payment pursuant to sub-paragraph (30) calendar days prior to such Servicing Transfer Dateb). Purchaser shall be responsible for any other tax penaltiespenalties to the extent such payment is required of the servicer under the Applicable Requirements. (d) For all escrowed Mortgage Loans, Seller shall provide to Purchaser within two five (25) Business Days after each 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, except as otherwise provided in this Section 7.04. (e) If Seller does not provide to Purchaser a transferable life of loan tax service contract for a Mortgage Loan, Seller shall provide all information reasonably required by Purchaser or Purchaser’s tax monitoring vendor with respect to such real estate taxes.