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A(n)__________ Is an Agreement by a Lender to Replace a Construction

Question 17

Multiple Choice

A(n) __________ is an agreement by a lender to replace a construction loan with a permanent loan,usually after certain conditions,such as the timely completion of the project,have been met.


A) substitution agreement
B) interim agreement
C) development commitment
D) take-out commitment

Correct Answer:

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