The Otto Centre, a BOMA “A” shopping center, is owned by the…

The Otto Centre, a BOMA “A” shopping center, is owned by the Otto-Wheeler Group III. Otto-Wheeler Group III is a single-purpose entity holding only the Otto Centre. Otto-Wheeler Group III has obtained a $71.5 million loan from a consortium led by Morinishi & Associates, a private equity group. The consortium consists of Morinishi & Associates (as lead investor), Reid Bancshares, and Marith Insurance Services. The purpose of the loan is to refinance a previous facility by lowering the interest 157 BP. The loan will be fully collateralized. The law firm of Fetters, Newson & Tucker, LLP (FNT) is preparing the loan documents for the lender consortium. The consortium’s term sheet includes a demand for a perfected and first priority position on all of Otto-Wheeler Group III’s personal property, including its bank accounts, stock investments, insurance proceeds, and future assets. FNT will include the following as part of its personal property collateralization documents package: (Select one answer only.)

Gray Hall is a 250 year old manor which has been converted t…

Gray Hall is a 250 year old manor which has been converted to a lovely inn. Many articles have been written for the past 75 years that “The Baroness”, who was alleged to have died under suspicious circumstances somewhere at the Hall, regularly visits rooms 137, 195, 267, 319, and 347, and goes through the guests’ bags and belongings. The Baroness never takes anything; she just moves things around. Interestingly the Baroness has never been observed in action; rather, when the guests are out-and-about hiking or skiing in the lush hills and valleys around the Hall, the Baroness pays her visits. Of late, the stories about the Baroness have faded from popular legend, although the Graham family, who owns the Hall, maintains a desk journal in the office which recounts the Baroness’ activities over the years. The Grahams have entered a purchase and sale agreement to sell the Hall to Gleason, Inc. During the 90-day inspection period the Grahams have a duty to disclose this _____________________  impairment to Gleason. (Select one answer only.)

Haley Bank & Trust Company, N.A. held a properly recorded mo…

Haley Bank & Trust Company, N.A. held a properly recorded mortgage against Aldridge Towne Centre, a student-oriented apartment complex in Coral Gables. Aldridge Towne Centre is owned by Barr Florida Holdings LLC (“BFH”). BFH fell five months behind with its P&I payments. Haley Bank engaged Tyler Fosket, Esq. to file an assignment for the benefit of creditors lawsuit against BFH. Is this the correct case for Haley to file to reclaim Aldridge Towne Centre? (Select one answer only, and read carefully.)