Tim Crowe Orchestral Supplies Company, an Arizona corporation, has been negotiating with Robinson Equities III, LP, a Florida limited partnership, to lease one of Robinson’s downtown Pensacola buildings. Tim Crowe Orchestral Supplies Company is very private about its finances and operations and has insisted its broker includes a non-disclosure/confidentiality agreement in the Letter of Intent between Robinson Equities III, LP and Tim Crowe Orchestral Supplies Company.  In order to strengthen the LOI’s confidentiality/non-disclosure provision, this one clause has been made specifically _____________________  in the Letter of Intent. (Select one answer only.)

Jack Washington is a private land developer and has enjoyed long-term success building and operating office buildings, multifamily communities, and shopping centers.  Mr. Washington now wants to venture in a new business direction.  Following a vacant land purchase close to a commercial street with consistent traffic load trips and minimal governmental concurrency requirements, Mr. Washington wants to develop this particular site as seven pads, each of which can support a minimum 2,000 square foot and maximum 7,000 square foot building.  There will be landscaped areas, a non-exclusive and shared-use parking lot with lighting, and a dumpster.  Each of the seven 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. Washington has positioned this development to be controlled by a(n): (Select one answer only.)

Lisa Elliott is building Sebastian Central, a mid-price point residential development in Mickeytown. The community she is developing is presently zoned to allow one single family residence per five acres, but her financial pro forma requires her to develop it as one residence per acre. Elliott, her lawyer, and her civil engineer applied for a zoning variance.  Hearings were held before the Zoning Commission, which approved Sebastian Central’s development plan with conditions. Ms. Elliott has fulfilled those conditions, and now following approval from the Mickeytown City Commission, can move forward to construction and sales.  As a developer, her lender will require a comprehensive general liability policy from both her and her constructions contractor (and all subcontractors).  In addition, Lisa may require the contractor and subcontractors to obtain the following:   (Select one answer only.)

Part I: Attorney Mikel Kroll is preparing a Lender Title Insurance Policy to cover Alzado Banque’s $4.15 MM loan to Tweedy & Sons Development. As Kroll pulls together the policy’s various documents, she recalls that  _____________________  are general to all transactions and  _____________________  are transaction-specific. {Read the following very carefully} (Select one answer only.)

As the final predicate towards issuing the Owners and Lender Title Policy after the sale of Lawson Circle, Attorney Gretchen Tennant recorded the Warranty Deed, Mortgage and Security Agreement, and Assignment of Leases, Rents, and Revenues at the Sumter County, Florida, Clerk of Court, Official Records Recording Office. The Mortgage was paid-in-full at the end of the 25-year term. The owner intended to refinance the mortgage at that time. The new lender’s attorney needed to research the deed so she could properly prepare the refinancing closing documents. She researched the property’s chain of title at the Sumter County Clerk of Court in the Official Records Recording Office by going through the historical Grantor/Grantee index. (Select one answer only.)

Falcone Realty Lenders, LLC will lend $127,000,000 to Simpson Apartments MI-F7, Inc., a Georgia corporation.  As part of its collateralization package, Falcone Realty Lenders requires the encumbrance of Simpson Apartment MI-F7’s rent stream, operating bank account, and insurance policies – among other things. To better protect Falcone Realty Lender’s security interest, its document package will include: (Select one answer only.)

Ronningen, L.P. is selling Pierce Tower to Darius, Inc.  Ronningen, L.P.’s attorney ordered a title commitment and a liens/permits search during Darius Inc.’s due diligence period. The ‘DD’ period ended successfully. The contract between Ronningen, L.P. and Darius, Inc. calls for the highest quality-level deed available.  At the closing Ronningen, L.P. presented Darius, Inc. a(n)  _____________________  Deed. (Assume no facts.) (Select one answer only.)

Part II: Long before Alzado Banque’s loan to Tweedy & Sons Development closed, Ms. Kroll was given basic information about the property to be collateralized by the mortgage (e.g., street address, tax parcel number).  Before Alzado Banque’s lawyers could prepare the Closing Documents, Attorney Kroll issued a title _____________________  related to Tweedy & Son Development’s property. (Select one answer only.)

Part II: Counselor Bloodworth and Ryan Collinson, Esq., Ebbe Lyonne’s lawyer, engaged in uncharacteristically disputatious negotiations. Ms. Bloodworth was willing to give a deed in which Nolan, LLLP warranted its title interests only for the duration of its ownership. On the other hand, Mr. Collinson demanded a deed incorporating no “look-back” limitations and all of the “English” covenants of title. Ms. Bloodworth presented a title commitment during the due diligence period which was “clear”, except for a variety of routine utility easements.  In the end Ms. Bloodworth agreed to prepare a deed consistent with Mr. Collinson’s specifications. Ms. Bloodworth prepared a _____________________ deed. (Select one answer only.)

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