Common use of Closing Charges Clause in Contracts

Closing Charges. Lender acknowledges that from time to time Principal or its affiliate(s) may assess any borrower with a fee in accordance with this Section 4.03 in connection with the performance of Principal’s closing duties hereunder as described in Exhibit C-1 to this Agreement. In connection with the performance of any such closing duties, Principal (or such affiliate) shall be entitled to receive and retain any such fee, as a reasonable estimate of the costs (including internal administrative costs) and expenses associated with the service. Principal (or such affiliate) shall also be entitled to reimbursement from the borrower of the reasonable costs and fees of third party legal counsel engaged by Principal or such affiliate.