18-47A Separate Agreement Whereby a Lender Makes a Commitment to Make

question 18

Multiple Choice

18-47.A separate agreement whereby a lender makes a commitment to make a loan in exchange for a fee is referred to as a(n) :

• A) construction loan commitment
• B) impact fee
• C) land acquisition loan
• D) cost recovery fee

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Definitions:

Industries

Sectors or categories of business activity focused on the production or delivery of goods and services.

Employer-Provided

Services or benefits offered to employees directly by their employer, such as health insurance, retirement plans, or transportation allowances.

Less Cost

Refers to a reduction in expenses or costs incurred by an organization or individual.

Direct Pay

Wages or salaries that employees receive directly from their employer as compensation for their labor.