Please Answer the following questions:

1. The general rule is that a deed is always required to effectuate a transfer of title to real estate. Please describe and discuss at least two cases in which title is acquired without a deed.

2. You are the owner of multi-use commercial real estate and are entering into long term lease agreement with office tenants, manufacturing tenants and retail tenants. Please discuss the types of previsions you would put into your leases to project you against inflation and unforeseen costs.

3. Please explain the purpose of each of the items referred to in paragraphs (a) through (e) below:
a) Phase I Environmental Assessment.
b) Balloon Mortgage.
c) Liquidated Damages Clause in a contract of sale.
d) An acceleration clause in a mortgage.
e) Environmental Impact Statement.

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