69. Developer Dave lases real property from the owner with the hope that he might be able to purchase the property in the future with the intent of constructing an office building on it. Dave has which of the following interests in the property A Leased fee B Leasehold C Sale and leaseback D. Lease option 70. William offers to buy Allan's house for S120,000 with a $20,000 down payment The balance is to be paid by way of a three-year contract for deed with interest at 12 percent per year. If monthly payments are interest only, how much simple interest will Bill pay during the term of the contract? A $3,600 B. $12.000 C. $28.800 D. $36,000 71. A lender is required under the Truth-in-Lending Act (Regulation 2) to furnish an applicant for a real estate loan with a copy of a(n): A. Amortization schedule B. Disclosure statement C. Deed D. Financial statement 72. If the value of a property is affected by negative forces outside the property which are beyond the control of the owner, an appraiser shows this on the appraisal report as: A. Physical deterioration B. Accrued Depreciation c. Functional Obsolescence D. Economic Obsolescence 73. The act of recovering title to property lost through foreclosure on a mortgage is called: A. Redemption B. Reclamation C. Restitution D. Reparation 74. A mortgage loan that calls for payments of interest ONLY until the loan matures is called a(n): A. Straight Term loan B. Amortized loan C. Purchase-money loan D. Installment loan