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Mixed-use communities provide an attractive housing option to tenants seeking alternatives to traditional family homes and condominiums. Due to the proximity of commercial establishments, a symbiotic relationship exists between the residential tenants and the commercial tenants. For the commercial tenants, the residential tenants are a captive audience and strong consumer base. For residential tenants, there are several unique advantages of co-existing with commercial tenants, such as instant access to shopping and restaurants. Despite the attraction and convenience, there are special considerations that potential residential tenants should weigh prior to becoming members of a mixed-use community. Specifically, before committing to membership in a mixed-use community, potential tenants should carefully review the terms contained in the community's declaration of protective covenants, conditions, restrictions, and easements (herein referred to as the 'declarations'). The following is an enumeration of significant considerations that should be examined when reviewing the declarations.
Architectural Review Committee
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The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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A common question that commercial landlords and tenants face is which of them is responsible for a repair to the subject premises. These disputes often center on whether the repair is "structural" or "nonstructural."