Intensity zoning: A)Regulates the type of use of property. B)Can ...

[kfurse]

Intensity zoning:
 A)Regulates the type of use of property.
 B)Can include building height limitations.
 C)Is prohibited in urban areas.
 D)None of the above

Question 2

Sam Furber purchased a home in 2007 for 636,000, giving a mortgage to CNN Mortgage Co for 500,000. After moving in, Sam had a built-in dining cabinet and bookshelves installed. He financed the shelving with Libraries, Inc, a total of 22,000. Libraries filed a financing statement on the security interest in the shelving on March 18, 2008. The shelving and cabinet are attached to the walls of the home. In 2009, Sam had a home theater installed by Living Entertainment. Living Entertainment financed the installation, a total of 41,000, through a security interest and filed a financing statement on September 9, 2009. The home theater includes an in-wall screen as well as projection equipment suspended from the ceiling and 12 recliner chairs. Sam lost his job and has defaulted on his mortgage payment. CNN is foreclosing on Sam's home. Assuming that the perfection filings are in the right place, what is the order of priority on the foreclosure proceeds?
 A) CNN, Libraries, and Living Entertainment
 B) Libraries, Living Entertainment, and CNN
 C) CNN and Libraries only because Living Entertainment's financing relates to movable property, not fixtures
 D)CNN only has priority

[LVPMS]

Answer to Question 1

B

Answer to Question 2

B

[kfurse]

Gracias!

[amit]

Thanks for the timely response, appreciate it