Questions (34) – (37) go together: Gary, LP owns the Kraus D…
Questions (34) – (37) go together: Gary, LP owns the Kraus Discount Center in Lake City, Florida. Adronis Family Ice Cream Parlors, LLC, a New York company, is leasing a 2,500 square foot outparcel from Gary, LP. The outparcel already has a building constructed on it, with adequate parking and a drive-through lane. As part of the arrangement with Gary, LP, Adronis Family Ice Cream Parlors, LLC is to construct all interior improvements and fixtures. When Adronis Family Ice Cream Parlors, LLC’s build-out work is completed, and it has obtained the release of all liens, Gary, LP will remit $37,500.00 (2,500 s.f. x $15.00/s.f.) to Adronis Family Ice Cream Parlors, LLC. This _____________________ to Adronis Family Ice Cream Parlors, LLC by Gary, LP following Adronis Family Ice Cream Parlors, LLC’s improvement work is by no means “free money” to Adronis Family Ice Cream Parlors, LLC; Adronis Family Ice Cream Parlors, LLC will ultimately repay Gary, LP as an element of its initial term base rent. (Select one answer only.)
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