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<p class="MsoNormal"><span style="color:#1F497D">Everyone:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">I am forwarding an email from Jay Mussman that may be of interest to you if you are involved in real estate closings.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Thanks to Jay for bringing this to the attention of the Committee.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Regards,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Cary<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> Jay D. Mussman [mailto:jmussman@chapin-law.com]
<br>
<b>Sent:</b> Thursday, June 27, 2013 12:26 PM<br>
<b>To:</b> Wright, Wm. Cary<br>
<b>Subject:</b> flood insurance--no waiting period---- exceptions--private mortgage --- purchase money mortgage<br>
<b>Importance:</b> High<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Good afternoon.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I have recently experienced an issue regarding the above. The below is a summary of the matter.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">If a seller agrees to provide the buyer of his/her property a purchase money mortgage in connection with the sale……...I was initially advised by a local insurance agency that the ability to obtain flood insurance with coverage effective
as of the closing date would not be permitted. Upon further inquiry, I contacted the source, FEMA in DC. FEMA disagreed with the agency. I provided the agent with my contact at the Lender’s Compliance Office. The telephone number for the Office is 202.212.2183.
As a result, the flood insurance was issued with an immediate effective date.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Feel free to share with the committee members.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">Thank you<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">Jay
<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:1.5in;text-indent:.5in">
<span style="font-size:12.0pt;font-family:"Tahoma","sans-serif""> </span><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">"Celebrating Over 40 Years of Commitment to Clients, Counseling and Community"<o:p></o:p></span></b></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;text-align:justify">
<b><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">TAX ADVICE DISCLOSURE</span></b><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">: Pursuant to Internal Revenue Circular 230, we are required to advise you that if
there is any tax advice contained herein (including attachments or enclosures), it is not intended or written to be used, and cannot be used or relied upon by the addressee, or any other person or entity, for the purpose of: (i) avoiding penalties that may
be imposed under the Internal Revenue Code, or (ii) promoting, marketing or recommending to any other party any tax-related matter addressed herein.<o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:12.0pt;font-family:"Tahoma","sans-serif""> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black">Jay D. Mussman</span><span style="font-size:12.0pt;font-family:"Tahoma","sans-serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black">Chapin, Ballerano & Cheslack</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black">Telephone: 561-272-1225 x234</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black">Facsimile: 561-272-4442</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black">E-mail: </span><a href="mailto:jmussman@chapin-law.com"><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black">jmussman@chapin-law.com</span></a><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif";color:black"><o:p></o:p></span></p>
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</span><a href="http://www.chapin-law.com/" title="http://www.chapin-law.com/"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">http://www.chapin-law.com</span></a><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">This e-mail is from the law firm of Chapin, Ballerano & Cheslack (the "Firm"), and is intended solely
for the use of the individual(s) to whom it is addressed. If you received this e-mail in error, delete the e-mail from your computer and do not copy or disclose it to anyone. If you are not an existing client of the Firm, do not construe anything in this e-mail
to make you a client of the Firm.</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif""><br>
<br>
This email has been scanned for email related threats and delivered safely by Mimecast. For more information please visit http://www.mimecast.com
<o:p></o:p></span></p>
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