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 )|  )|  )|  )|  )| 43J$`0w;FR]htIC`` ` A"Arial Regular )|  )|C`eeA"Arial Regular )|3f  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`A"Arial Regular )|  )|C`LLA"Arial Regular )|  )|C `LLA"Arial Regular ) |  ) | C A"Arial Regular ) |  ) | C `A"Arial Regular ) |   ) | C A"Arial Regular ) |   ) |   // /Title of ChartLegendd B@1st Qtr2nd Qtr3rd Qtr4th QtrNorth# Z2AU@South# 2(-F@East# (@West# -  ܈ 0'1 `  +%13 `nOA"Arial RegularO        @North+%1f3 `--EE+%13 `]OA"Arial RegularO        @South+%1_3 `+%13 `^OA"Arial RegularO        @East+%1f3 `!!5"5"+%13 `M#%OA"Arial RegularO        @West%1  (>  ( 0( 0   0 O)1 M 7 07   0 F 0 00   0)   [  v 4' ) ^.     m ,F J F  J F J  *    1MM3 `/  ^13 ` / / ^ ^1MM3 `^s ^ `/  f13 `u/ / fuf1MM3 `fLuf `#/ $ $#C13 `N/ #/ #CNC1MM3 `#C$% NC `,/ k- k-,13 `'(/ ,/ ,'(1MM3 `,k-('(13f `Yu 0 0Y1f3 ` u Yu Y 13f3 `Y0   `2u  2m1f3 `u 2u 2mm13f3 `2m m ` "u " "i " 1f3 `u "u "  13f3 ` " "ivi  `*u + +*'1f3 `w&u *u *'w&'13f3 `*'+O'w&'1f0 `  3  1_3 `=   = 1f03 ` 3  3 =  ` Z Z t 1_3 `  t t 1f03 `t Z  t  `[ 3! 3![ 1_3 ` [ [ 1f03 `[ 3! `4) * * 4)6 1_3 `$ 4) 4)6 $6 1f03 `4)6 * % $6 13@ ` ] > 1f3 ` > > 13@3 ` > e >  ` ]  | 1f3 `f  | f| 13@3 `|  > f|  `ˆ ]   1f3 `È? 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  4A2  I  .3  SubtitleofSlide  (0w+%3f13f3 '@#Q/9OA"Arial RegularOxxx        @  Q QOA"Arial RegularOxxx     3f   @3fSubtitleofSlide+%13 *[ pg C`@@A"Arial Regular +C`xxA"Arial Regular +3f3fC`A"Arial Regular +3f3fC`A"Arial Regular +3f3fC`  A"Arial Regular +3f3fC`XXA"Arial Regular +3f3f9?   433333333X2  I  .3  FirstItem2  A  .3  subitem2  I  .3  SecondItem2  A  .3  subitem2  I  .3  ThirdItem2  I  .3  FourthItem  *[ +%31333 )@[  OA"Arial RegularOXXX        @  a aOA"Arial RegularO@@@     3   @33        @FirstItemOA"Arial RegularOxxx     3   @33     3f   @3fsubitemOA"Arial RegularO@@@     3   @33        @SecondItemOA"Arial RegularOxxx     3   @33     3f   @3fsubitemOA"Arial RegularO@@@     3   @33        @ThirdItemOA"Arial RegularO@@@     3   @33        @FourthItem+%13  01 0#?Y@4@#?Y@4@#?@? + +   22226ffffffֿp= ף(\?TQ ` + ` +f ` +_ ` +f  ` +3 ` +f ` +f ` + ` +  ` +   ` +   ` +    ) |   ) |  )|  )|  )|  )|  )|?  )|  )|  )|  )|  )| 43J$`0w;FR]htIC`` ` A"Arial Regular )|  )|C`eeA"Arial Regular )|3f  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`eeA"Arial Regular )|  )|C`A"Arial Regular )|  )|C`LLA"Arial Regular )|  )|C `LLA"Arial Regular ) |  ) | C A"Arial Regular ) |  ) | C `A"Arial Regular ) |   ) | C A"Arial Regular ) |   ) |   // /Title of ChartLegendd  m@1st Qtr2nd Qtr3rd Qtr4th QtrNorth# Z2AU@South# 2(-F@East# (@West# -   0'1 `+226 6 +%13 `,:!#OA"Arial RegularO        @North.+%1f3 `-$$%%.+%13 `.&b)OA"Arial RegularO        @South.+%1_3 `/226 6 .+%13 `0:!#uOA"Arial RegularO        @East.+%1f3 `1$$%%.+%13 `2&b)uOA"Arial RegularO        @West.%1 3;T ;  4;T ; 0 0T  5 ;T 0T , 1 6 ;w 0w 7; 0 8;; 0 9]; 0) :K "T  ;# $'T  <4( +T ) =4/ b  >b ba ?[.   @  A-s s  Bs  1MM3 `C \!, \! x13 `D xx1MM3 `E x\!"x `Fd% %, %d%213 `G*# d% d%2*#21MM3 `Hd%2%#*#2 `I) E*, E*)13 `J' ) )'1MM3 `K)E* (' `LM. ., .?M.13 `M, M. M.,1MM3 `NM..?,?,13f `O <  1f3 `P<  <  13f3 `Q  I `R$< $ $$1f3 `SP"< $< $P"13f3 `T$$"P" `U(< l) l)Z( 1f3 `V&< (< ( & 13f3 `W( l)Z2'Z&  `Xt-< - -t-1f3 `Y9+< t-< t-9+13f3 `Zt--+9+1f0 `[=   =G 1_3 `\ = =G G 1f03 `]=G  o G  `^# $ $# 1_3 `_w! # # w! 1f03 ``# $!w!  `a&( ( (1&(1_3 `b% &( &(%1f03 `c&((1X&1% `d, - - , 1_3 `e`* , , `* 1f03 `f, - * `* 13@ `gd K \ d 1f3 `h) d d ) 13@3 `id \ \ )  `j" E#K E#n " 1f3 `k " "  13@3 `l" E#n !n   `mM' 'K ' M'/ 1f3 `n% M' M'/ %/ 13@3 `oM'/ ' % %/  `p+ .,K .,+1f3 `q) + +)13@3 `r+.,))13 s G .% tOA"Arial RegularO        @  1stQtr.% u! !G .% v"#OA"Arial RegularO        @  2ndQtr.% w% %G .% xo$'OA"Arial RegularO        @  3rdQtr.% yn* n*G .% z(+OA"Arial RegularO        @  4thQtr.% { T .% |: + OA"Arial RegularO        @  0.% } T .% ~] N OA"Arial RegularO        @  20.% T.%  pOA"Arial RegularO        @  40.% ;T;.% OA"Arial RegularO        @  60.% ]T].% OA"Arial RegularO        @  80.% T.% OA"Arial RegularO        @  1000ARct /@Q4L i f ")(G0@HN95^Cxe *qHxUy!7qWPCXX81%XX81%چ3'XXXX,,,,9"(r 0V$ r 0V$  (r 0V$' 'r.#O, \AZ"Arial RegularOT T T         @  Q QO, \AZ"Arial RegularOT T T AmountinescrowWPCJXX81%XX81%چ3'XXXX,,,,9"*0~20~C , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3f)?   4 @ @ @ @ @ @ " dddddd$   *0~%3f13f )8L/6O, \AZ"Arial RegularO     3f   @3f  Q QO, \AZ"Arial RegularOfortaxesO, \AZ"Arial RegularOԀandinsurance(nocushion)WPCXX81%XX81%K3'XXXXKKKK9"F0h$ 0h$  F0h$' `DZ .#O, \AZ"Arial RegularO` ` `         @  Q QO, \AZ"Arial RegularO` ` `  UtahStatute:.+/ Z@1 _333 `E00  WPCXX81%XX81%K3'XXXXKKKK9"H *X0x2*X0xC ` ` , \AZ"Arial Regular +3f3fC ` ` , \AZ"Arial Regular +3f3fC ` ` , \AZ"Arial Regular +3f3fC ` ` , \AZ"Arial Regular +3f3fC ` ` , \AZ"Arial Regular +3f3fC ` ` , \AZ"Arial Regular +3f3f)?   4 @ @ @ @ @ @ " dddddd$   H*X0x.+%3f13f3 `G:H/O, \AZ"Arial RegularO` ` `      3f   @3f  Q QO, \AZ"Arial RegularO` ` ` Interestispayableatthefollowingrate:WPC XX81%XX81%K3'XXXXKKKK9"JW*X0B*X0C ` ` , \AZ"Arial Regular +C @@, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3f9>   433333333 @3 @3 @3 @3 @3 @3 f" dddddd$   J*X0.%133 `I:H/uO, \AZ"Arial RegularO        @3a aO, \AZ"Arial RegularO` ` `         @        @3    O, \AZ"Arial RegularO` ` `         @0X..5.5%f  O, \AZ"Arial RegularO` ` `         @3    O, \AZ"Arial RegularO` ` `         @0X..Average11thDistrictFHLBcostoffundsminus1.5%f  O, \AZ"Arial RegularO` ` `         @3    O, \AZ"Arial RegularO` ` `         @0X..TheinstitutionspassbooksavingsaccountrateWPCXX81%XX81%'3'XXXX,,,,9"&m G-2 G-C ` ` , \AZ"Arial Regular +C , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC ,,, \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC oo, \AZ"Arial Regular +3f3f)?   433333333 @3 @3 @3 @3 @3 @3 " dddddd$   & G-' % 7,O, \AZ"Arial RegularOooo        @  Q QO, \AZ"Arial RegularO` ` ` First,letslookattheadjustmentor pro-rationbetweenthebuyerandtheseller.WPC&XX81%XX81%63'XXXXKKKK9"10h$:0h$C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +)?  !@Z_33 4 @ @ @ @ @ @ " dddddd$   10h$' `/Z .#O, \AZ"Arial RegularO` ` `         @  Q QO, \AZ"Arial RegularO` ` `  Interestonescrowaccounts.+/ Z@1 _333 `000  WPCXX81%XX81%63'XXXXKKKK9"5|0B0C ll, \AZ"Arial Regular +C @@, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3f9<   433333333 @3 @3 @3 @3 @3 @3 f" eddddd$   50+133 `4@Q/ O, \AZ"Arial RegularO        @3a aO, \AZ"Arial RegularOlll        @O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..Lendersearningsfromescrow floatareverylarge.Theydontwanttopayinterest.f  O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..Nofederallawrequiresthemtopayinterest.f  O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..About15stateshavestatutesrequiringpaymentofinterest.f  O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..Missouriisntoneofthem.WPCXX81%XX81%=3'XXXXKKKK9"8s0h$:0h$C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +)?  !@Z_33 4 @ @ @ @ @ @ " dddddd$   80h$' `6Z .#O, \AZ"Arial RegularO` ` `         @  Q QO, \AZ"Arial RegularO` ` `  O.T.S.regulation:.+/ Z@1 _333 `700  WPCXX81%XX81%=3'XXXXKKKK9":  0w2 0wC xx, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3f)?   4 @ @ @ @ @ @ " dddddd$   : 0w.+%3f13f3 `9@ Q/O, \AZ"Arial RegularOxxx     3f   @3f  Q QO, \AZ"Arial RegularOxxx12C.F.R.560.2WPC7XX81%XX81%=3'XXXXKKKK9"<z 0*B 0*C xx, \AZ"Arial Regular +C , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3f9<   433333333 @3 @3 @3 @3 @3 @3 f" dddddd$   < 0*.%133 `;;U/) O, \AZ"Arial RegularO        @3a aO, \AZ"Arial RegularOxxx        @        @3    O, \AZ"Arial RegularOxxx        @0..federalsavingsassociationsmayextendcreditasauthorizedunderfederallaw,includingthispart,withoutregardtostatelawspurportingtoregulateorotherwiseaffecttheircreditactivities.f  O, \AZ"Arial RegularOxxx        @3    O, \AZ"Arial RegularOxxx        @0..(b)Illustrativeexamples.Exceptasprovidedin560.110ofthispart,thetypesofstatelawspreemptedbyparagraph(a)ofthissectioninclude,withoutlimitation,statelawspurportingtoimposerequirementsregarding:***f  O, \AZ"Arial RegularOxxx        @3    O, \AZ"Arial RegularOxxx        @0..(6)Escrowaccounts,impoundaccounts,andsimilaraccounts;WPCAXX81%XX81%D3'XXXXKKKK9"?<0?0h$:?0h$C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +)?  !@Z_33 4 @ @ @ @ @ @ " dddddd$   ??0h$' `=.#O, \AZ"Arial RegularO` ` `         @  Q QO, \AZ"Arial RegularO` ` `  Hence,FederalS&Lsarenotboundbystatelaws:.+/ Z@1 _333 `>@0@0WPC XX81%XX81%D3'XXXXKKKK9"C: 0B: 0C ll, \AZ"Arial Regular +C @@, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3f9<   433333333 @3 @3 @3 @3 @3 @3 f" dddddd$   C: 0+133 `B@: Q/O, \AZ"Arial RegularO        @3a aO, \AZ"Arial RegularOlll        @        @3    O, \AZ"Arial RegularOlll        @0X..Requiringthatinterestbepaidonescrowaccounts,orf  O, \AZ"Arial RegularOlll        @3    O, \AZ"Arial RegularOlll        @0X..Prohibitingtherequirementofescrowaccountsforsometypesofloans(e.g.,thosebelow80%L/Vratio).WPCXX81%XX81%3'XXXXKKKK9"fe0h$:0h$C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +)?  !@Z_33 4 @ @ @ @ @ @ " dddddd$   ꆍ0h$' 膝^ .#O, \AZ"Arial RegularO` ` `         @  Q QO, \AZ"Arial RegularO` ` `  Theend.+/ Z@1 _333 `00  WPCSXX81%XX81%(3'XXXXKKKK9"'|0B|0C ll, \AZ"Arial Regular +C @@, \AZ"Arial Regular +3f3fC xx, \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3fC , \AZ"Arial Regular +3f3f9<   433333333 @3 @3 @3 @3 @3 @3 f" eddddd$   '|0.'133 `&@|Q/$ O, \AZ"Arial RegularO        @3a aO, \AZ"Arial RegularOlll        @O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..Sellerhashad3monthsofpossession.f  O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..Buyerwillactuallypaytheentireyearstaxes.f  O, \AZ"Arial RegularO~~~        @3    O, \AZ"Arial RegularOlll        @0X..SoBuyergetsacredit(andtheSelleradebit)of3monthstaxes,or$350.WPCwXX81%XX81%3'XXXXKKKK9 j"$?0h$:?0h$C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +C ` ` , \AZ"Arial Regular +)? 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` + ` -@OZm ` +f  ` +3 ` +f ` +f ` + ` +  ` +   ` +   ` +    ) |   ) |  )|  )|  )|  )|  )|?  )|  )|  )|  )|  )| 43J$`0w;FR]htIC ` ` \AZ"Arial Regular )|  )|C ee \AZ"Arial Regular )|3f  )|C ee \AZ"Arial Regular )|  )|C ee \AZ"Arial Regular )|  )|C ee \AZ"Arial Regular )|  )|C  \AZ"Arial Regular )|  )|C  \AZ"Arial Regular )|  )|C  \AZ"Arial Regular )|  )|C LL \AZ"Arial Regular )|  )|C LL \AZ"Arial Regular ) |  ) | C  \AZ"Arial Regular ) |  ) | C  \AZ"Arial Regular ) |   ) | C  \AZ"Arial Regular ) |   ) | #   //dd /Title of ChartLegendd @JFMAMJJASONDTaxes# d,X L@ Insurance# ,2Kd}@Total# E? ~x  "0-.)*+%'1?53 `b# #  .+%13 `c z0 O \AZ"Arial RegularO        @    Taxes.+%13 `d  .+%13 `ek&0 O \AZ"Arial RegularO        @    Insurance.%13OZm `f.%13 `g zO \AZ"Arial RegularO        @    Total.% hc c" ic 0 ) jc0 kc0 lc0 mc0 nc0 oc0) p0 0" qc"0" H  .1?3 `r  XX1@ 3 s  1?3 `t5   5 1@ 3 u5  1?3 `v   1@ 3 w  1?3 `x'       !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopstu '1@ 3 y'  1?3 `z z z[[1@ 3 { z 1?3 `|  1@ 3 }  1?3 `~ l l1@ 3  l 1?3 `   1@ 3   1?3 `" ^$ ^$^"^1@ 3 " ^$ 1?3 `% ' '%1@ 3 % ' 1?3 `v) P+ P+v)1@ 3 v) P+ 1?3 `, . .,1@ 3 , .  H  /13 ` II1 3  13 `" y" y1 3 " 13 ` u u1 3  u 13 `  1 3   13 ` g g  1 3  g 13 `    1 3   13 ` Y Y((1 3  Y 13 ` ! !XX1 3  ! 13 `q# K% K%q#1 3 q# K% 13 `& ( (&1 3 & ( 13 `c* =, =,c*1 3 c* =, 13 `- / /-1 3 - /   ~.13OZm `   `  ` ` ` `}| `m `o ^ `#O `a'@ `*1 `S."13    .% u k} O \AZ"Arial RegularO        @    J.%  .% D u } O \AZ"Arial RegularO        @    F.%   .% u } O \AZ"Arial RegularO        @    M.%   .% ,u } O \AZ"Arial RegularO        @    A.%   .% u u} O \AZ"Arial RegularO        @    M.% } } .% 1u } O \AZ"Arial RegularO        @    J.%   .% u A} O \AZ"Arial RegularO        @    J.% o o .%  u } O \AZ"Arial RegularO        @    A.% # # .% †#u F$} O \AZ"Arial RegularO        @    S.% Æa' a' .% Ć&u '} O \AZ"Arial RegularO        @    O.% ņ* * .% Ɔr*u A+} O \AZ"Arial RegularO        @    N.% džS. S. .% Ȇ-u .} O \AZ"Arial RegularO        @    D.% Ɇc  .% ʆ  O \AZ"Arial RegularO        @    0.% ˆc.% ̆vO \AZ"Arial RegularO        @    200.% ͆c.% ΆO \AZ"Arial RegularO        @    400.% φc.% ІyO \AZ"Arial RegularO        @    600.% цc.% ҆O \AZ"Arial RegularO        @    800.% ӆc.% Ԇ|O \AZ"Arial RegularO        @    1000.% Նc.% ֆO \AZ"Arial RegularO        @    1200.% ׆c"".% ؆O \AZ"Arial RegularO        @    1400J oN\ #m)k/7J K@FwM#TQtZ2`fakZq3Ԥ/WPCXX81%d |r-g3'XXXXKKKK ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*' ey )O, \AZ"Arial RegularO          ClosingAdjustmentsandEscrows+ll%'13 f <-<- WPCH XX81%H?/1O$z3'XXXX,,,,51942*+xx1"e$p 0p 0p"f$DD"g$44D"h$  D D"i$<<D<D"j$DD"k$DDD"l$DD"m$LLDLD"n$  D D"o$T$T$D"p$''D'D"q$\+\+D+'1"rwH/1O,wAZ"Arial RegularO` ` `         JFMAMJJASOND+xx'1"s$ 0 0D 0D+'1"t\$ ^3%O,wAZ"Arial RegularO` ` `         taxesdue(Dec.10)-+xx'1!^+ ,i&- "u,$0*\+Dt,$2*+-+1$,$^+Ew++ p*^+E-+xx1-+'1"vk. O,wAZ"Arial RegularO` ` `         closing(Apr.15)-+xx'1! &- "whDtm+-+1$I+I-+xx1-+'1 x Z V+#O,wAZ"Arial RegularO` ` `         Taxes=$1,200/year y n5*  O,wAZ"Arial RegularO` ` `         (Assessedonacalendaryearbasis)WPCXX81%W.!f3'XXXXKKKK942*'"eK  -"O, \AZ"Arial RegularO        Atclosing,twodistincttax-relatedtransactionsoccur:1.0..Weadjust(pro-rate)betweenbuyerandseller.2.0..Wecreatean escrow, reserveor impoundaccountwiththenewlender.WPCLXX81% :/!h3'XXXXKKKK513 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,9' ei -^!WO, \AZ"Arial RegularO` ` `         Ineffect,wereducetheamountBuyerpaysforthepropertyby$350.(AcredittoBuyer,andadebittoSeller).)+PP%'1 f!6 /6 WPCZ XX81%HQ/1.#{3'XXXX,,,,51942*+xx1"e$p 0p 0p"f$DD"g$44D"h$  D D"i$<<D<D"j$DD"k$DDD"l$DD"m$LLDLD"n$  D D"o$T$T$D"p$''D'D"q$\+\+D+'1"rwH/1O,wAZ"Arial RegularO` ` `         JFMAMJJASOND+xx'1"s$ 0 0D 0D+'1"t\$ ^3%O,wAZ"Arial RegularO` ` `         taxesdue(Dec.10)-+xx'1!^+ ,i&- "u,$0*\+Dt,$2*+-+1$,$^+Ew++ p*^+E-+xx1-+'1"v#k. O,wAZ"Arial RegularO` ` `         closing(Apr.15)-+xx'1! &- "whDtl%-+1$H%H-+xx1-+'1 z-")O,wAZ"Arial RegularO` ` `         Firstmonthlypaymentonloan:July1.Paymentsbeforetaxesdue:7WPCkXX81%v2y. f3'XXXXKKKK513 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*'"el ."O, \AZ"Arial RegularO        Buyerwillpay7monthlyinstallmentsoftaxesbeforethetaxesaredue.($700)Buttaxesareactually$1,200.SoBuyermust fundtheescrowaccountwithanother$500atclosing.WPCiXX81%f-f3'XXXXKKKK513 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*'"e -"O, \AZ"Arial RegularO        LenderisentitledunderRESPAtoa cushionof1/6oftheannualtaxes.(Thats$200inourexample.)SoLendermayrequireBuyerto fundtheaccountwithupto$700.WPCXX81%R.4#f3'XXXXKKKK513 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*'"e{^.+"FO, \AZ"Arial RegularO        Whatstheneteffectofthetwotaxcomputations?0..vendor-purchaser0..adjustment................+$3500..initialdepositto..escrowaccount.........-$700..Netcosttobuyer.......-$350WPCH XX81%H /1#z3'XXXX,,,,519D+xx1"e$p 0p 0p"f$DD"g$44D"h$  D D"i$<<D<D"j$DD"k$DDD"l$DD"m$LLDLD"n$  D D"o$T$T$D"p$''D'D"q$\+\+D+'1"rwH/1O,wAZ"Arial RegularO` ` `         JFMAMJJASOND+xx'1"s$ 0 0D 0D+'1"t\$ ^3%O,wAZ"Arial RegularO` ` `         taxesdue(Dec.10)-+xx'1!^+ ,i&- "u,$0*\+Dt,$2*+-+1$,$^+Ew++ p*^+E-+xx1-+'1"vk. O,wAZ"Arial RegularO` ` `         closing(Sept.15)-+xx'1!YA a"&- "w*3 l 4t*/ i J-+1$*7V?J7-+xx1-+'1 y.~"O,wAZ"Arial RegularO` ` `         SupposetheclosingdateischangedtoSept.15.WPCXX81%3 /f3'XXXXKKKK513 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*'"e,Q ^.u"O, \AZ"Arial RegularO        Adjustmentbetweenvendorandpurchaser:Credittopurchaser.....+$850Initialdeposittolenderescrowaccount...........-$1200Netcosttobuyer.........-$350WPCXX81%@//4#f3'XXXXKKKK ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*'"e6. O, \AZ"Arial RegularO        Hence,thenetcosttothebuyerisnotaffectedmuchbythedateofclosing.Itisstronglyaffectedbythedatethetaxesaredue(i.e.,earlyorlateinthetaxyear).Theearlierthetaxesmustbepaid,themorethebuyersinitialexpense.WPCXX81%H/#f3'XXXX,,,,51 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*+'"euZ/H"O,wAZ"Arial RegularO` ` `         Individualitemmethod:0 ..Eachitemmustfalltozero(plusthecushion)atsometimeduringtheyear.Aggregatemethod:0 ..Overallaccountmustfalltozero(plusthecushion)atsometimeduringtheyear.WPCOXX81%^k$/"f3'XXXX,,,,51 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*+' e^k$/!O,wAZ"Arial RegularO` ` `         Theaggregatemethodresultsin:0 ..Alowerinitialdepositwhentheloanismade.0 ..Aloweraveragebalanceintheaccount.WPC0XX81%s .D"f3'XXXX,,,,51 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*+' es .!tO,wAZ"Arial RegularO` ` `         HUDrequirestheaggregatemethod:0 ..59Fed.Reg.53890 .. (Oct.26,1994)effectiveMay24,1995.WPCXX81%W{."f3'XXXXKKKK ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,942*'"ex. LO, \AZ"Arial RegularO        Nowletsaddanescrowforhomeowners(fire)insurance...say,$300/yeartotal,or$25/month.WPCXX81%0J3'XXXXKKKK ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,9+%1 L00WPCXXX81%P-#g3'XXXXKKKK513 ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,9.3 fP-z"O, \AZ"Arial RegularO` ` `         @  Theraterequirementsdontapplyif:EscrowisrequiredbyFHAorVA;orLoan-to-valueratioexceeds80%;orpaymentofinterestisprohibitedbyfederallawWPC3XX81%: U-a3'XXXXKKKK ? ///???OOO___fffooof1?O/_??ߟ߿_?_?_?ffffO3(f3 3f1I_#f3ffL3$33fffff'3#33fLff̙fZ(/!f 3(f&3.3fu3f3f3%3(K_fLff333&fJr̕uknXBf,33 f!,7ff3 3f&3?[3pT8f3'3Nf3p`ff33f3?f3f̵kfU,:!.f0(-#fW3#fW̷̙0%3f̙0 0f̙ef 0! f!"!"!effff3#&e2e2,9 -"*^ttd@ R"(!-.+, #e:/!DM1")f $#   0  0  D  D  0  l m ? < 4 1  4 ^ ~ e S % Y   < \ P " y a y [  -  ` S ;j @f'nd>BffcccmX9e]@?t&!v!l9a9YcymB-b/( E4    @g Y3 r    lZ`Y}H.>C4-t   ( %R B, ,   ` 5   #T MG      Z Z   @ s ~  Q Cab mm9xsx49;k;.`  B [ ( ( r r hz  & &   & " A ;  J , \ 4  4 ' T g h t u G t & [    eh    T q  P     *I i t  VT 5   h ' 6((S}   H x O !     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