SERVICE AGREEMENT

Customer hereby appoints First American SMS as its authorized agent to perform the FasTrax Service(the "Service") described below.

First American SMS will provide Customer with Service for real property closings handled by Customer. Customer agrees to pay First American SMS $35 for each order placed plus appropriate recording fees if not collected by the lender. For this fee, First American SMS will track, obtain, and record the appropriate documents to release, satisfy, discharge, or cancel institutional mortgages or deeds of trust.

The Customer will be responsible for providing First American SMS with information regarding the document to be tracked, a check for the FasTrax service fee and the appropriate funds to record the document if not collected by the lender. Customer agrees upon request to provide First American SMS with any additional information to facilitate the release, discharge, satisfaction, or cancellation of the lien.

For Massachusetts Customers and Transactions

Customer hereby appoints First American SMS, Inc. (“FA SMS”) as its authorized agent to track, obtain and record mortgage releases for real property transactions (“Transaction”) for which Customer is responsible in order to release, satisfy, discharge, or cancel institutional mortgages or deeds of trust (“Mortgage”) in accordance with Massachusetts statute (MGL c 183 §55) (“Statute”) upon the following terms and conditions (“FasTrax Service”).

  1. Primary Service: FA SMS will record discharges it receives within the time frames mandated by Statute provided:

A.      Within thirty (30) days following the closing of the Transaction (“Assurance Time Frame”), Customer places the FasTrax order and delivers all of the following to FA SMS (the “Order”):

a.        a copy of the payoff transmittal letter in which the Customer instructs the lender that FA SMS is authorized to act on Customer’s behalf and Customer requests lender deliver the discharge to FA SMS,

b.        a copy of the applicable pages of the title search showing the paid off mortgage with all subsequent assignments used in the Transaction. (“Title Report”),

c.        a copy of the payoff statement and payoff check for the Mortgage,

d.        any other documents reasonably requested by FA SMS applicable to the release of the Mortgage,

e.        if Customer is relying on an exception to a perfect discharge as permitted by MGL c. §54C, a written statement specifying same in reasonable detail; and

f.         a check payable to FasTrax for $35 plus the applicable recording fees (unless the latter was collected by the lender.)

B.      All documents constituting the Order received from Customer are complete and accurate (including, but not limited to, the recording information).

C.      FA SMS will inform Customer in writing within two (2) business days if any documents specified in Section 1.A are incomplete or missing as required to constitute an Order.

Liability Assurance: Provided that Customer complies with the requirements in Section 1.A & B within the Assurance Time Frame, FA SMS assumes liability for damages (including any penalties) actually incurred by Customer for violation of the Statute for the specific Mortgage provided that Customer (i) promptly notifies FA SMS in writing of any claim for such damages, (ii) allows FA SMS the opportunity to handle and defend any such claim, and (iii) reasonably cooperates with FA SMS with respect to the defense of the claim.

  1. Additional Services:

A.        If the original Mortgage discharge is actually delivered to the Customer by the lender, Customer must immediately forward same to FA SMS with appropriate information regarding the Order. FA SMS will present the Mortgage discharge to the registry for recording within fifteen (15) days of actual receipt by FA SMS.

B.      If the Mortgage discharge does not reference the recording information on the Title Report, FA SMS will use reasonable efforts to obtain a corrected discharge directly from the lender and to record same within fifteen (15) days of actual receipt by FA SMS.

  1. Online Access. FA SMS will date stamp the Order as of the date received by FA SMS which will be entered into the FasTrax system and made available to the Customer via the FasTrax online system.