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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.)