§ 955. Payments by mortgage investing institutions; receipts. 1. A
mortgage investing institution which receives moneys from a mortgagor
for deposit into a real property tax escrow account shall be liable to
such mortgagor, upon failure to pay such taxes, for the amount of the
taxes plus penalties and interest imposed thereon.

2. A mortgage investing institution may pay the taxes due on more than
one parcel by a single instrument, provided the instrument is
accompanied by a detailed list of the specific parcels to which the
instrument is to be applied, each parcel identification number and the
amount of tax to be paid with respect to each parcel. If the face value
of the instrument is at least equal to the total intended payment as
indicated by such list, but the total intended payment does not equal
the total amount of taxes actually due on the parcels on the list, the
collecting officer shall accept the instrument and record as paid the
taxes due on each parcel for which the amount offered as set forth in
such list is at least equal to the amount due on such parcel. The lien
on each remaining parcel on such list shall not be discharged or
diminished by the acceptance of such instrument. The collecting officer
shall forthwith advise the mortgage investing institution or its agent
that the taxes on the remaining parcels remain unpaid, and shall
identify the parcels on the list upon which taxes remain unpaid. The
amount of the tender which has not been applied to the payment of taxes
shall be either retained to be applied toward tax payments or refunded.

3. No later than three weeks after a tax has been paid by a mortgage
investing institution pursuant to this title, the collecting officer
shall deliver, mail, or, subject to the provisions of section one
hundred four of this chapter, transmit electronically a receipt to the
mortgagor for whom the real property tax escrow account is maintained.
Each such receipt shall be in the same format as a statement of taxes,
except that the word "Paid" (or an equivalent word or words) and the
date of payment shall be clearly displayed thereon. The receipt may also
display, if the collecting officer so elects, the name, title and
signature (or initials) of the collecting officer or of the authorized
subordinate who received the payment.

4. Notwithstanding the provisions of any other law to the contrary,
and except in a school district, if a mortgage investing institution has
failed to pay the taxes of its mortgagor by the date the warrant of the
collecting officer expires, the collecting officer shall provide the
name of such mortgage investing institution with the return of
delinquent taxes delivered to the public official charged by law with
the duty of enforcing the collecting of delinquent real property taxes.
Thereafter, whenever such officer publishes a notice pertaining to the
enforcement of delinquent taxes against a parcel listed on such return,
and the name of the mortgagor is included therein, the name of the
mortgage investing institution shall also be included.