Common Contracts
2 similar Reserve Agreement contracts
ContractReserve Agreement • April 3rd, 2015
RESERVE AGREEMENT BUYER/BORROWER : ,(HEREAFTER referred to as Depositor) We (I) wish to establish a Tax and/or Insurance Reserve and/or Reserve with Payment Servicing Corporation (PSC). We will be paying $ , in addition to interest and principal amounts established in our Note/Contract. Funds will be set aside for payment from the RESERVE ACCOUNT as the RESERVE comes due. It is understood funds on deposit in the RESERVE are “Non Interest Bearing”. DEPOSITOR IS RESPONSIBLE FOR ACCURACY OF ALL RESERVE BILLINGS. All billings for RESERVE should be sent directly from the generating Agency to the Depositor for review. If billing is correct Depositor is to submit the bill to PSC. Receipt of a bill from Depositor confirms it has been “approved” for payment. If billing is sent directly to PSC from the generating Agency, PSC will not be responsible to determine if the billing is correct or incorrect. If an incorrect billing is paid, Depositor is responsible to contact the billing Agency to mak
PO Box 327 • Kalispell, MT 59903 • (406) 257-8186 • NMLS # 1185532Reserve Agreement • April 3rd, 2015
RESERVE AGREEMENT BUYER/BORROWER : ,(HEREAFTER referred to as Depositor) We (I) wish to establish a Tax and/or Insurance Reserve and/or Reserve with Payment Servicing Corporation (PSC). We will be paying $ , in addition to interest and principal amounts established in our Note/Contract. Funds will be set aside for payment from the RESERVE ACCOUNT as the RESERVE comes due. It is understood funds on deposit in the RESERVE are “Non Interest Bearing”. DEPOSITOR IS RESPONSIBLE FOR ACCURACY OF ALL RESERVE BILLINGS. All billings for RESERVE should be sent directly from the generating Agency to the Depositor for review. If billing is correct Depositor is to submit the bill to PSC. Receipt of a bill from Depositor confirms it has been “approved” for payment. If billing is sent directly to PSC from the generating Agency, PSC will not be responsible to determine if the billing is correct or incorrect. If an incorrect billing is paid, Depositor is responsible to contact the billing Agency to mak
