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Policies and Fees

Policy Statement Instructions
The escrow instructions and these policy statements, including any amendments thereto, will constitute the sole and entire agreement between the Sunwest Trust, Inc. and the Parties thereto.

We reserve the right to refuse any contract for escrow which does not meet our specific requirements.

All payoffs, large balloon payments, monthly, quarterly, semi-annual and annual payments over $3000.00 must be made with certified funds only. In the event a personal check is received, funds will not be disbursed until the funds are available through the banking institution from which the check is drawn.

Amendments
Any amendment to the escrow instructions shall be made in writing, signed by all parties, and delivered to and accepted by Sunwest Trust, Inc.. No request upon Sunwest Trust, Inc. can be effective for any purpose unless made in writing, signed by the party making the request, and delivered to Sunwest Trust, Inc..

If your contract contains provisions that call for changes in terms such as interest rate changes, changes in payment amount, or intermittent balloon payments during the life of the contract, the enforcement of these provisions is the responsibility of the parties to the contract, not that of Sunwest Trust, Inc. Sunwest Trust, Inc. must be notified of a change in any terms by letter or fax prior to the date such change is to occur. Upon receipt of such notification and after review of the contract, Sunwest Trust, Inc. will change its records accordingly.

Fees
Sunwest Trust, Inc. shall be entitled to collect fees in accordance with its fee schedule current as of the date the service is rendered. We reserve the right to change this fee schedule from time to time after providing thirty (30) days written notice to all parties. Unless otherwise agreed to in writing by all parties, and approved by Sunwest Trust, Inc., Sunwest Trust, Inc. will deduct its fees from each disbursement made.

Unless instructed differently, Sunwest Trust, Inc. will deduct the fees from the contract holder’s funds. In the event the contract holder does no receive funds, such fees will be the sole responsibility of the payor.

A copy of the fee schedule will be available at the office of Sunwest Trust, Inc., as well as on this web site.

Interest
Unless otherwise agreed to in writing by all parties, and approved by Sunwest Trust, Inc., Sunwest Trust, Inc. will compute interest on the unpaid balance to the date payment is received by Sunwest Trust, Inc., and will commence interest as of the document date.

Close of Escrow
“Close of escrow” will mean the day the Sunwest Trust, Inc. makes final disbursement of all funds entrusted to it by the parties, and/or releases the documents held by it in escrow.

Liability
Sunwest Trust, Inc. assumes no liability for the legal effectiveness of any escrowed documents and volunteers no opinion, nor makes any representation as to the condition of the title conveyed or received, rights of lien holders, or any other matter effecting the interest of the parties in and to the subject matter of the escrow.

Disbursements
All disbursements are made in strict adherence to the specific instructions of the contract itself or from the specific written instructions of the recipients.

If any payment received by Sunwest Trust, Inc., in the form of a check or draft, is dishonored for any reason by drawee, Sunwest Trust, Inc. shall have the right to give written notice to the parties of its intent to delay future disbursements to ensure clearance of the check or draft.

After giving notice to the parties of its intent to delay future disbursements, Sunwest Trust, Inc. will not be liable for late payment penalties, interest, default, forfeiture, attorney’s fees, costs or any other loss or damage to the parties whatever resulting directly or indirectly from delay of disbursement in accordance with the notice. As a courtesy to the payor, we will honor personal checks. However, is a check is dishonored, we will charge to payor $25.00 or more and will reserve the right to require the payor, at any time, to furnish us with certified funds for all subsequent payments until the end of the escrow period.

If any payment received by Sunwest Trust, Inc., in the form of a check or draft, is dishonored for any reason by drawee and Sunwest Trust, Inc. can not recover funds from the maker, the recipient will be required to reimburse Sunwest Trust, Inc. for the amount of the dishonored check or draft less escrow fees.

Escrow Agent
Sunwest Trust, Inc. will have the right to resign as Escrow Agent by giving thirty days notice to the parties of its intent to withdraw. The parties involved will thereupon jointly select a successor Escrow Agent and give such written notice to Sunwest Trust, Inc. of such selection. If the parties fail, for any reason, to jointly select a successor Escrow Agent, Sunwest Trust, Inc. may select the successor Escrow Agent.

Surrender of all documents and funds, after deducting its charges and expenses, by Sunwest Trust, Inc. to the successor Escrow Agent, will relieve Sunwest Trust, Inc. of all further liability and responsibility.

Sunwest Trust, Inc. is a fully licensed trust company in the State of New Mexico offering both Trust and Escrow services. Sunwest Trust, Inc. may, from time to time, invest available escrow funds in its settlement account for the purpose of earning interest on those funds. When making investment decisions, Sunwest Trust, Inc. will always act in a prudent manner by considering the purposes, terms and distributional requirements of each of its clients.

Sunwest Trust, Inc. reserves the right to amend its stated policy and any such change will become effective as to all accounts, unless otherwise stated, upon the giving of written notice to the parties.

Fee Schedule (effective January 1, 2007)