Law Commons^™

Greenbacks For Building Green: Does A Lender For Sustainable Construction Projects Need To Make Adjustments To Its Current Practices?, Darren Prum

Darren A. Prum

In the development of real property, the availability of money to secure construction resources becomes an important factor for success. The construction loan plays a central role in providing funds to erect a building on real property, but a lender faces numerous exposures that might result in a loss. In evaluating a project to determine its viability and to uncover any exposure it might present, a lender will conduct an extensive underwriting review process and will use mitigation techniques through the construction loan agreement and disbursement requirements to reduce the perceived risks to an acceptable business level, for those developments …

Our Own Private Sustainable Community: Are Green Covenants, Conditions, And Restrictions A Viable Alternative To A More Environmentally Sustainable Future For Homeowners?, Darren Prum, Robert Aalberts

Darren A. Prum

Residential and commercial property owners have sought for centuries to develop and enrich their physical environment through private land use planning. In more recent decades, residential owners residing in community interest communities have been particularly active in crafting an evolving array of deed restrictions contained in Covenants, Conditions and Restrictions( CC&R’s). CC&R’s, which are generally created by the CIC developer , are mutually binding and enforceable against all those who live or conduct business in self-selected residential subdivisions or commercial developments . Importantly, CC&R’s are monitored sometimes quite forcefully, under the watchful eye of an empowered planned development association.

Although …

The Next Green Issue: Considering Property Insurance For The Green Building, Darren A. Prum

Darren A. Prum

As government policies across the country try to encourage more environmentally friendly buildings, the next green issue facing the owners of the completed structure is obtaining the proper insurance coverage to protect their investment. A typical property insurance policy covers the costs to reconstruct or replace property damaged as the result of a casualty, so the Insurance Service Organization and other carriers offer specific green building endorsements in an effort to augment the underlying property policy. However, these buildings maintain unique characteristics, which becomes relevant to the owner and policy underwriter as well as other stakeholders like the holder of …