Linda Shocknek is building Sebastian Central, a mid-price po…
Linda Shocknek is building Sebastian Central, a mid-price point residential development in Meredithtown. The community she is developing is presently zoned to allow one single family residence per five acres, but her pro forma requires her to develop it as one residence per acre. Ms. Shocknek, 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. Shocknek has fulfilled those conditions, and now proceeds to the Meredithtown Commission for final plan approval, and, accordingly, the issuance of a zoning variance permitting Sebastian Central to move forward to construction and sales. The Meredithtown Commission heard neighborhood, developer, and expert witness testimony, with cross-examination, at this _____________________ hearing. The Meredithtown Commission approved the zoning variance and issued an ordinance permitting Sebastian Central to begin its construction work. SebastianCentral ended up being a lovely community, and materially increased Meredithtown’s total property tax base. (Select one answer only.)
Read DetailsJames Music Shoppe will be leasing a 2,500 square foot unit…
James Music Shoppe will be leasing a 2,500 square foot unit at the Pell Shopping Centre. Pell Shopping Center’s broker prepared a Letter of Intent describing the transaction. As is typical with Letters of Intent, the Pell Shopping Centre/James Music Shoppe LOI outlines the lease structure and should include (at least) the following elements: (Select one answer only.)
Read DetailsCrittenden & Haney, LLC is a franchisee to Dietrich’s Fancy…
Crittenden & Haney, LLC is a franchisee to Dietrich’s Fancy Outfits Franchising, Inc., and will do business as “Dietrich’s Fancy Outfits” accordingly. Crittenden & Haney, LLC is owned by Josh and Jade Crittenden-Haney, who were married in 2011. Crittenden & Haney, LLC is leasing a 1,1150 square foot suite at The Countryside Mall in The Villages, Florida. The Countryside Mall will require Josh and Jade Crittenden-Haney to provide a(n) _____________________ provision with its lease. (Select one answer only.)
Read DetailsHope & Square Bass Guitars and Amps Co., a Kansas corporatio…
Hope & Square 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 Lakeland Music Mall. The suite is just perfect for Hope & Square – it is located near a train 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. Squure & Hope typically uses F. Sheehan Contractors to conduct its improvement work. Lakeland Music Mall has a mortgage with Valori Loan Services. In order to properly observe the covenants of its mortgage, and to protect its interests, Lakeland Music Mall includes a(n) _____________________ paragraph in its lease to Squire & Hope. (Select one answer only.)
Read DetailsAdronis Family Ice Cream Parlors, LLC pays Gary, LP a single…
Adronis Family Ice Cream Parlors, LLC pays Gary, LP a single “all-inclusive” rent check each month of the lease term (including during all extensions or renewals). Adronis Family Ice Cream Parlors, LLC separately pays its metered utility costs to the local utility. Gary, LP and Adronis Family Ice Cream Parlors, LLC have entered into a _____________________ rent lease. Assume no other facts or special circumstances. (Select one answer only.)
Read DetailsCameron Hall Industries, LLC, an Oregon limited liability co…
Cameron Hall Industries, LLC, an Oregon limited liability company, is searching for raw land in Virginia, West Virginia, North Carolina, and South Carolina. Cameron Hall Industries, LLC’s business plan requires the property it purchases to be occupied by companies wanting to attract a specific tax _____________________ which require those businesses to create high wage jobs in pre-identified industries; the benefits to those participating companies include refunds on corporate sales, ad valorem, personal property, income, intangible insurance premium, and certain other taxes. The market bought-out Cameron Hall Industries, LLC’s development very quickly. (Select one answer only.)
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