9. Since construction lenders do not have a finished property on which they can lend, they must use other information available to them when making lending decisions. Which of the following are criteria that a lender would consider when making a loan? A. The developer's previous experience in building and marketing projects B. The developer's financial capabilities in completing the building construction C. The likelihood that the property will be able to generate the projected cash flows D. The developer's financial capabilities in successfully completing the marketing campaign (1) All of the above (2) Only A, B, and C (3) Only A, C, and D (4) Only B and D 10. Which of the following definitions best defines the term "feasibility study"? (1) Market research conducted with the purpose of identifying the potential purchasers of units within the development (2) A study analyzing the suitability of the project in terms of the developer's current portfolio of existing projects and programs (3) An analysis aimed at discovering whether a specific project can actually be carried out successfully (4) A background research procedure on the developer to assess his or her ability of repaying the construction loan