Robby Livgren is a private land developer, and has enjoyed l…

Robby Livgren is a private land developer, and has enjoyed long-term success building and operating office buildings, multifamily communities, and shopping centers. Mr. Livgren now wants to venture in a new business direction. Following a vacant land purchase close to a commercial street with consistent trips and minimal concurrency requirements, Mr. Livgren wants to develop this particular site as five pads, each of which can support a minimum 2,500 square foot and maximum 7,500 building. There will be landscaped areas, a non-exclusive and shared-use parking lot with lighting, and a dumpster. Each of the five pads will be sold, with rights to the shared common areas. The location in which the development is situated is zoned for general office, medical, dental, and veterinary use. Mr. Livgren has positioned this development to be controlled by a(n): (Select one answer only.)

There was a devastating fire in Don Andolini’s World of Stam…

There was a devastating fire in Don Andolini’s World of Stamps and Coins, and all of Andolini’s coins, stamps, other inventory, tools, equipment, supplies, and financial records were completely damaged or destroyed. Andolini is a tenant at The Corleone Center, an inline shopping center (BOMA B-level). Don Andolini had an insurance policy on its contents with Hooper Insurance Carriers. After Hooper’s adjuster examined the circumstances of the fire, and decided it was due to a covered cause, Hooper paid Don Andolini the full value of its loss. In light of these facts, Don Andolini has an “ACV” (actual cash value) policy. (Select one answer only.)

Calley Realty Resources, Inc., a Delaware corporation, has a…

Calley Realty Resources, Inc., a Delaware corporation, has a strong cash flow and is well capitalized, together with an exceptionally strong balance sheet (consisting of actual assets, as opposed to accounting outcomes and devices). Calley’s strongest property is Congress Corners, a luxury residential community. As part of the total collateral package BancZiegler includes in its Lending Agreement a promise by Calley that it will not encumber Congress to a third party without BancZiegler’s advance written consent. That promise is a type of: (Select one answer only.)