Interest on a construction loan is usually paid d a

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24. Interest on a construction loan is usually paid: (D)(A) Up front at the beginning of the loan(B) Periodically over the life of the loan(C) In quarterly installments over the life of the loan(D) At the end of the loan
25. Besides an estimate of costs, a construction loan submission package includes many other components. Which of the following is NOT one of those components? (A)
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26. In the context of a lease, percentage rents generally indicate that: (B)
27. Why would a developer be willing to manage a completed project even after it has been sold? (D)
28. Which of the following is NOT one of the developer strategies mentioned in this chapter? (A)(A) To sell and lease back the land(B) Owning and managing after sale(C) Sell after lease-up phase(D) Develop for lease in master-planned development
29. Which of the following is FALSE regarding a construction loan? (A)
30. Which of the following common contingencies is NOT usually included with a permanent financing agreement? (D)
31. What term applies to third-party financing that is used between funds advanced by the permanent lender and funds needed to repay the construction loan? (C)
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32. Developers usually hold back about ___ percent of each progress payment. (B)(A) 1(B) 10(C) 25(D) 75- 5 -

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