In the Classical Construction Loan

question 11

Multiple Choice

In the classical construction loan:

• A) The developer borrower) owes no cash payments to the bank until the loan comes due upon completion of the construction project.
• B) The developer pays interest only during the construction phase.
• C) The developer pays both interest and some principle to begin to amortize the construction loan during the construction phase.
• D) The developer and construction lender share equally in all payments to construction contractors during the construction phase.

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Definitions:

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Short, fine, usually unpigmented hair that covers the body except for the scalp, eyebrows, and eyelids. Much of the vellus is replaced at puberty by terminal hairs.

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