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18 Prac. Real Est. Law. 3 (2002)

handle is hein.ali/prel0018 and id is 1 raw text is: THE PRACTICAL REAL ESTATE JANUARY 2002 VOLUME 17/NUMBER 1 Published by The American Law Institute-American Bar Association Committee on Continuing Professional Education six times a year A Miranda Warning for Potential Conduit Borrowers (Or a Checklist for Loan Officers) Mark A. Hill and Richard D. Jones 7 Nearly one-fifth of all outstanding commercial mort- gage debt is securitized. Nevertheless conduit borrow- ers continue to bombard mortgage bankers and loan servicers with impossible post-closing requests and breathtakingly naive questions. Confusion about the servicing process is still widespread. This makes con- duit loans less palatable to borrowers and sometimes chills relations between borrowers and lenders. The author tells lenders how to properly inform their bor- rowers about conduit loans. Counseling the Client on Secured Construction Lending Patricia Frobes 15 In construction lending, the value of the security depends entirely on the completion of construction. To ensure loan repayment, the project must be completed and leased, sold, or refinanced. Therefore, the con- struction lender will want the ability to complete the project with the balance of the loan funds and to insure that all conditions to any take-out lender's funding will be met. The author explains how to draft the nec- essary documentation. How To Use Institutional Controls for Contaminated Sites Lawrence P. Schnapf 25 Sometimes it is in the public interest to get contami- nated land back into use as quickly as possible-even if that means a less than complete cleanup. In these cases, government-approved engineering and institu- tional controls can protect the public from injury while allowing productive use of the property. The author reviews the various types of institutional con- trols, explores the critical issues associated with their creation, implementation and enforcement, and also proposes some solutions for improving the effective- ness of these controls. Crafting Creative Settlements in Condemnation Cases Toby Prince Brigham 39 In condemnation cases, settlement offers many advan- tages over trial. In addition to speed, economy, and predictability, settlement offers opportunities for cre- ative solutions that are superior to the traditional, lim- ited resolutions offered by trial verdicts. But to be suc- cessful, settlement negotiation must be preceded by careful investigation and preparation and accompa- nied by negotiators with a suitable attitude. Dealing with the FCC's Satellite and Antenna Regulations Wilbert Washington II 51 Under Federal Communication Commission (FCC) regulations, community associations may not general- ly prohibit the installation of satellite dishes and tele- vision antennas. However, the regulations do allow community associations at least some leeway in regu- lating these eyesores. The author advises you on how to draft covenants that comply with the FCC's regula- tions while protecting the community association's interests to the maximum extent possible. The forms and Practice Checklists in each issue of The Practical Real Estate Lawyer are avail- able on 3.5-inch floppy disks. For more information or to order, call 1-800-CLE-NEWS. Programs, Publications, and Playbacks A-ABA CLE Calendar Groundbreakers

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