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REV: 06-11-25 LF <br />can review the coverage through monthly reports from Consultant indicating insurance <br />status. <br />1. Coverage is bound upon receipt of request with an effective date up to 90 days prior <br />to receipt of the request. <br />2. Consultant’s insurance provider or their carrier will send out three letters to the <br />borrower over the course of forty-five days. If the borrower provides proof of coverage, <br />lender-placed coverage will be cancelled. <br />3. If the effective date of this coverage is the same and there is no lapse in coverage, <br />there will be no premium charged. If there is a lapse in coverage, there may be a fee <br />charged to the borrower’s account for an earned premium. <br />4. If the borrower does not provide proof of coverage, Consultant’s insurance provider <br />will send an insurance policy and notification of premium to the borrower and bill <br />Consultant for a one-year policy. If the borrower does not have an established <br />impound account, Consultant will create one and disburse the premium from it. If the <br />borrower fails to pay the premium before the end of the month, and the disbursed <br />premium results in an escrow deficit balance, the balance will be accounted for in that <br />month’s reconciliation of the City Escrow Deficit Account. If the aggregate portfolio <br />remittance for the month is insufficient to cover the deficit amount, the City will be <br />billed and responsible for the cost until recouped from the borrower. Pay-off quotations <br />or demands will reflect impound deficit amounts (caused by the cost of forced-place <br />insurance or other advances) so that the borrower will still be held responsible for the <br />cost even if they are unresponsive. <br />The Portfolio Status Report, delivered monthly to the City, will also reflect such <br />negative impound balances (i.e. the total amount of such premiums owed by <br />borrower). <br />5. The one-year policy is cancelable by either Consultant or the City. <br />Account Inquiries <br />Borrowers and the City have 24-hour electronic access to their loan information via <br />Consultant’s website at www.amerinat.com. Continuous access to loan account <br />information is also provided during normal working hours through toll-free customer <br />service telephone lines. In addition, hard copy account payment histories or other <br />information can be provided through facsimile transmission or email. When requested by <br />a borrower, Consultant will provide, without charge, a detailed statement of transactions <br />relating to the borrower’s payments and/or escrow account. <br />ATTY/AGR.2025.144/AmeriNational Community Services, LLC d/b/a AmeriNat (Page 17 of 31)