Hope & Squire Bass Guitars and Amps Co., a Kansas corporatio…

Hope & Squire Bass Guitars and Amps Co., a Kansas corporation, is expanding its retail store and music school by leasing a retail suite at the second floor of the Fort Clark Music Mall. The suite is just perfect for Hope & Squire – it is located near a subway station, has a well-operated parking garage, and the rear of the suite can be easily built-out for instrument demonstrations/try-outs and lessons. Hope & Squire typically uses R. Valory Contractors to conduct its improvement work. Fort Clark Music Mall has a mortgage with F. Sheehan Financial Services. In order to properly observe the covenants of its mortgage, and to protect its interests, Fort Clark Music Mall includes a(n) _____________________ paragraph in its lease to Hope & Squire. (Select one answer only.)

Hume Philosophy Bookstore is considering a lease at the Kant…

Hume Philosophy Bookstore is considering a lease at the Kant Thought Mall. While Hume is the top-of-the-line special interest bookseller in the world, it is actually a small company and does not have the operational capacity to administer the improvements in a stand-alone building. Kant happens to have a vacant 1,800 square foot outparcel available which meets Hume’s particular location, size, and customer-base needs, although the building on the outparcel was previously used as a full-service pizza restaurant. Kant will repurpose and completely finish-out the building for Hume per Hume’s architect’s plans. Given the facts as presented Kant and Hume enter into a  _____________________  lease. (Assume no additional facts or special circumstances.) (Select one answer only.)

The 86-75309 Company developed the JJ Center, a town-center…

The 86-75309 Company developed the JJ Center, a town-center multipurpose property. After it finished building the JJ Center, 86-75309 quickly sold the entire center to Wayne Property Partners. Wayne, in turn, prepared a 20-year lease back to 86-75309, with four five-year options. 86-75309, in turn, subleased the units in the Center to several luxury retail companies. Based upon this structure Wayne is able to receive the capital appreciation for the Center, and a predictable, ongoing rent stream, and 86-75309 keeps all net amounts it receives from its subleases after it makes its monthly lease payments to Wayne. (Assume no other facts.) This arrangement is an example of a classic “Triple Net” lease. (Select one answer only.)