Humber College PREX-1060A Value Pack (Frequently Bought Together)

A salesperson is negotiating a lease for a new retail tenant and reviewing the requirements and restrictions regarding the delivery of stock items. Which of the following is NOT a correct statement regarding stock delivery requirements and restrictions in a commercial lease?

• A. Should a delivery truck arrive during an emergency, the property manager must be available.
• B. The salesperson is responsible for addressing site access and exit in the tenant's agreement to lease.
• C. Stock delivery cannot be restricted in a commercial agreement to lease.
• D. The salesperson is responsible for negotiating the tenant's stock delivery window.

A salesperson negotiates the purchase of a retail property for their client, who plans to open a new store at this location. The client asks the salesperson how many parking spots the property will be required to have to meet the zoning requirements. The salesperson replies that the municipality has zoning requirements that set the minimum parking ratio. How will the municipality calculate the parking ratio?

• A. The municipality will take the number of available parking spaces and divide it by the property's net leasable area.
• B. The municipality will take the number of available parking spaces and divide it by the property's gross leasable area.
• C. The municipality will take the number of available parking spaces and divide it by the projected number of monthly visitors.
• D. The municipality will take the property's gross leasable area and divide it by the number of available parking spaces.

A landlord and a tenant have signed an agreement to lease an office space. Prior to the transaction closing, an unforeseeable event occurs that is not the fault of either party. Which statement about the return of the tenant's deposit is NOT correct?

• A. The landlord and tenant may agree to split the deposit.
• B. The parties may need to obtain a court order that clarifies how the deposit will be returned and distributed.
• C. The agreement may contain a clause forfeiting all of the deposit if the landlord has started work on the premises.
• D. The tenant can have the deposit back without signing a mutual release as it is not their fault.

A salesperson representing a client who is selling an office property has received some documents from the seller and is trying to organize them. Which of the following documents is NOT needed by the salesperson or seller when selling the property?

• A. Income verification documents
• B. Environmental site assessments
• C. Private mortgage form
• D. Telephone bills

A buyer client is interested in purchasing a 30,000 sq. ft. industrial building in an industrial park. The buyer's salesperson drafts an agreement of purchase and sale that includes an environmental site assessment condition that must be met at the buyer's own expense, and to the buyer's satisfaction. Which of the following is NOT an accurate statement regarding the environmental site assessment condition?

• A. The environmental site assessment condition makes the offer conditional upon the seller delivering documents, records, and reports relating to environmental matters to the buyer upon request.
• B. The environmental site assessment condition makes the offer conditional upon the buyer determining that the property is free from hazardous conditions or substances.
• C. The environmental site assessment condition makes the offer conditional upon all possible court actions regarding environmental matters being thought of and reported.
• D. The environmental site assessment condition makes the offer conditional upon the buyer determining that no limitations or restrictions affecting the continued use of the property exist.