ALI-ABA Course of Study Commercial Real Estate Defaults ...

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3.12 Partially or Wholly Unfunded Loan Commitments
3.13 Letters of Credit.
3.13.1 Considerations
3.13.2 Non-Documentary Conditions
3.13.3 Subrogation
3.13.4 Independence Doctrine.
3.13.5 Fraud in the Transaction
3.13.6 Injunction Proceedings
3.14 U.C.C. Security Documents, Perfection
3.15 Jury Waiver Provisions
3.16 Casualty and Liability Insurance Policies, Certificates, Mortgagee
Endorsements
3.17 Prior Workout, Interim Forbearance and Collateral Enhancement
Arrangement Documents
3.18 Subordination Agreements.
3.19 Document Modification and Alteration
4.0 Status of Property
4.1 Physical Condition
4.2 Property Income
4.2.1 Leases
4.2.2 Other Possible Sources of Income
4.2.3 Security Deposits
4.2.4 Earnest Money Deposits
4.2.5 Limited Partners and Shareholders of Debtor Entity
4.3 Costs and Expenses
4.3.1 Operating Expenses
4.3.2 Possible Third Party Claims
4.3.3 Deferred Maintenance
4.3.4 Major Repairs
4.4 Project Valuation
4.4.1 Review Closing Appraisal and Compare with Current
or Recent Appraisal
4.4.2 Review Original Market Analysis
4.5 Construction Loan Evaluation
4.6 Reciprocal Easement Agreements
4.7 Environmental Concerns
4.7.1 Contamination - Hazardous or Toxic Substances - Clean
Up Liability - CIRCLA Issues
4.7.2 Coastal Regulations
4.7.3 Wetlands Issues
4.7.4 Asbestos
4.7.5 Lender's Right to Enter Upon Property and Conduct
Tests
DSC:767996.4
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4/4/2006 3:55 PM Copyright 1996, 2002 Marvin Garfinkel
All Rights Reserved