However, if processing of the application has not been completed by the lending agency within the above time, such time limit shall be automatically extended until the lending agency has, in the normal course of its business, advised either approval or rejection. The payment includes . Interest on the existing loan and any mortgage insurance premium shall be prorated to date of closing. Buyer agrees to reimburse Seller for the amount in the escrow reserve account which is to assigned to Buyer. Seller agrees that loan and escrow reserves will be current at time of closing.
Buyer agrees to pay assumption fees, if any.
All other terms and conditions of the instruments shall be as mutually agreed upon. Real estate taxes for prior years shall be paid by Seller. Real estate taxes for prior years shall be paid by Seller. Buyer agrees to accept the treated property. If visible evidence of previously treated infestation which is now inactive is found, treatment shall not be required.