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Konesky FLA Properties, Inc., a Delaware corporation, has amassed 2,500 acres which straddle three central Florida counties. Due to the massive size of the parcel, and the close location of I-4 and I-75 to the property, Konesky FLA Properties, Inc.is developing that tract as a retail/restaurant “power center”, with the intent of attracting a large variety of national retailers and restaurants, hotels, entertainment facilities, and “big box” tenants. None of the three counties where the total property is located have the sole authority to approve or supervise the entirety of Konesky FLA Properties, Inc.’s development. Konesky FLA Properties, Inc. will, then, have to develop its “power center” as a _____________________, working with the Florida Department of Economic Opportunity . (Select one answer only.)

The 8675-309 Company developed the JJ Center, a town-center multipurpose property. After it finished building the JJ Center, 8675-309 quickly sold the entire center to WayneGarth Property Partners. WayneGarth, in turn, prepared a 15-year lease back to 8675-309, with three five-year options. 8675-309, in turn, subleased the units in the JJ Center to several luxury retail companies. Based upon this structure WayneGarth is able to receive the capital appreciation for the JJ Center, and a predictable, ongoing rent stream, and 8675-309 keeps all net amounts it receives from its subleases after it makes its monthly lease payments to Garth. (Assume no other facts.) This arrangement is an example of a classic “Triple Net” lease. (Select one answer only.)

Questions (43)-(44) go together: Gilbert’s Toy Store has been leasing space in the Trenton Northeast Mall from Danielle Fein & Partners Commercial Leasing for seven years. Gilbert’s Toy Store never, ever had a single problem with Trenton Northeast Mall since the lease commenced. However, Gilbert’s Toy Store missed three payments for its contents/liability insurance related to the leased suite. Danielle Fein & Partners Commercial Leasing contacted Gilbert’s Toy Store, reminded Gilbert’s Toy Store about those missed payments, and instructed Gilbert’s Toy Store to become current with its insurance obligations under the lease terms or Danielle Fein & Partners Commercial Leasing would buy insurance to protect only its own interests as landlord under the  _____________________  section of the lease. (Select one answer only.)

Continuing from the facts described in Question 43 above, Danielle Fein & Partners Commercial Leasing was notified by Gilbert’s Toy Store’s insurance company about Gilbert’s Toy Store’s missed payments to Danielle Fein & Partners Commercial Leasing because Danielle Fein & Partners Commercial Leasing was listed as a(n)  _____________________  under Gilbert’s Toy Store’s insurance policies. (Select one answer only.)

Further, as Keaton Property Developers, LP makes the determination whether it wants to accept a tenant to lease at the center, it conducts due diligence investigations on: (Select one answer only.)

A 17-year-old thin, male patient has recently been diagnosed with a 15% pneumothorax.  What should the respiratory therapist recommend?

Bill ‘n Deb’s Potato Chips Incorporated has successfully concluded negotiations with Hader Properties on the specific matter addressed in Question 33 Bill ‘n Deb’s Potato Chips Incorporated is a privately held Idaho corporation, and strictly conducts its business to be as secretive as possible. In order to remain to its core business principles, Bill ‘n Deb’s Potato Chips Incorporated insists that Hader Properties include a _____________________  clause regarding reported amounts and disclosed documents. Hader Properties agreed, Bill ‘n Deb’s Potato Chips Incorporated took occupancy, and ended up being one of Haden Properties’ “gilt-edged” tenants. So much so that Bill ‘n Deb’s Potato Chips Incorporated parlayed its business and success with Hader Properties into an international enterprise, became a franchise operation, and eventually “went public”. Assume no additional facts. (Select one answer only.)

Darryl Loggins is interested in Hall Package Transportation Services, Inc.’s franchising and operating/marketing programs. Darryl Loggins has many years of direct experience as a services-provider franchisee, and owns and operates units with nine different franchisors. Darryl Loggins customarily uses Kenny General Contractors to build his local offices, store-fronts, and warehouse/maintenance shops. Darryl Loggins travels to Panama Beach meet with Hall Package’s franchising executives, and brings his business and tax lawyers to that meeting. The meeting is quite intense and lasts for a full business week, but when it concludes, Darryl Loggins has entered into a  _____________________  Agreement with Hall Package Transportation Services, Inc. to subfranchise stores in five east coast states. Darryl Loggins’s pro forma (which is based on substantiated data) shows his Hall Package Transportation Services, Inc.-related operation becoming profitable in only three years. (Select one answer only.)

Jerry Bright does business as the Grey House Center, a “B” level retail strip center in Martin, Florida. Mr. Bright previously borrowed $500,000 from Zadegan & Co. Commercial Lenders to finance 65% of his purchase. The mortgage from Zadegan & Co. Commercial Lenders to Jerry Bright contains a standard due-on-sale clause. While the mortgage is in-place Jerry Bright enters into a purchase and sale agreement with Necar Carlton Partners, an Ohio general partnership. Following the contractual due diligence period, Necar Carlton Partners has decided to move forward to closing. Jerry Bright’s and Necar Carlton Partners’ attorneys drafted the closing documents, and obtained Zadegan & Co. Commercial Lenders’ wiring instructions. Based on just the information presented (and nothing else), as soon as Jerry Bright’s attorney began reviewing the closing documents packages, Jerry Bright violated the _____________________ clause of Zadegan & Co. Commercial Lenders’ loan documents. (Select one answer only.)

Brooke is on the Board of Directors of Crystal Corporation.  She signs a contract on behalf of Crystal Corp. to purchase $2M of products.  The corporation decides to breach the contract, as it doesn’t want to be out $2M.  Brooke will be personally liable for the value of this contract.