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</o:shapelayout></xml><![endif]--></head><body bgcolor=white lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'>Parts of your question are easy to answer. If the projects owners are all businesses, then the goods and services provided aren’t for ‘personal, family, or household use’ and thus the financing arrangement isn’t a retail installment sales contract within the chapter 520 definition. While the deferred payment arrangement could be described as a ‘financing agreement’ the term is normally used (at least in my experience) for insurance premium financing and in connection with bonds issued by various governmental entities. Shooting from the hip, unless the clients are governmental entities, where Chapter 287 might be implicated, I don’t know of any special forms, magic words or anything of like nature that would come into play.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'>If the owner’s promise to pay in the future is to be unsecured, a simple promissory note might do, That raises what is, in my cynical view, the first real question. What assurance does your client have that the owners will pay. If payment is going to stretch out longer than three months post completion, all lien rights will have expired and your client is left with an unsecured debt. The typical approach would be a mortgage on the improved property, but a construction lender or other mortgage holder might object to junior mortgages. I’d recommend as many guarantors and as much additional collateral as you can get. In my years of representing banks, I never met a banker who thought he had too much collateral or too many guarantors.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'>Another thought relates to payment defenses down the road. That implies that in the loan (financing) agreement the owner specifically acknowledge it has inspected and accepted the work, the work complies with the drawings, the work is fit for the particular purpose, the owner has no claims against your client of any kind, and waives and covenants not to assert any future defenses except payment. You can put that stuff in a note, though you risk rendering the note non-negotiable.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'>Hope this helps.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='font-size:14.0pt;color:#5F497A'>Regards,<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#5F497A'>Lan White<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt;color:#5F497A'>(727) 797-5599<o:p></o:p></span></p><p class=MsoNormal><b><span style='font-size:9.0pt;font-family:"Copperplate Gothic Light";color:#7030A0'> </span></b><b><span style='font-size:9.0pt;font-family:"Copperplate Gothic Light";color:#7030A0'><img width=62 height=81 id="Picture_x0020_1" src="cid:image001.jpg@01CF27DB.34DD1960" alt="cid:part1.09030708.03060606@elliott-berger.com"> <img width=84 height=84 id="Picture_x0020_2" src="cid:image002.png@01CF27DB.34DD1960" alt="Panel Member logo printer friendly small"></span></b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#403152'><o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:14.0pt;color:#403152'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:windowtext'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif";color:windowtext'> clc-discussion-bounces@lists.flabarrpptl.org [mailto:clc-discussion-bounces@lists.flabarrpptl.org] <b>On Behalf Of </b>Jason L. Molder<br><b>Sent:</b> Tuesday, February 11, 2014 5:34 PM<br><b>To:</b> clc-discussion@lists.flabarrpptl.org<br><b>Subject:</b> [CLC-Discussion] Payments over time to contractor<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal style='margin-bottom:12.0pt'>All,<br><br>I have a client that wants to allow its clients (all incorporated business entities -- no individual consumers) to pay over time after construction is completed. Terms would be anywhere from 3 to 24 months, with accruing interest. Does anyone have any experience with something like this? I am not sure if this counts as a retail installment contract or a finance agreement. Any assistance or thoughts would be greatly appreciated. Thanks.<o:p></o:p></p><div><p class=MsoNormal>-- <o:p></o:p></p><div><div><p class=MsoNormal><span style='font-family:"Arial","sans-serif";color:#575757'>Jason L. Molder | </span><b><span style='font-family:"Arial","sans-serif";color:#073763'>SWIMMER & MOLDER, PL</span></b><span style='font-family:"Arial","sans-serif"'><br></span><i><span style='font-family:"Arial","sans-serif";color:#575757'>Locations in Miami-Dade and Broward Counties</span></i><span style='font-family:"Arial","sans-serif"'><br></span><span style='font-family:"Arial","sans-serif";color:#575757'>Direct: <span class=postbox-detected-content>(954) 688-3132</span></span><o:p></o:p></p><div><p class=MsoNormal><span style='font-family:"Arial","sans-serif";color:#575757'><a href="http://swimmermolder.com/" target="_blank">swimmermolder.com</a></span><o:p></o:p></p><div><p class=MsoNormal style='margin-bottom:12.0pt'><span style='font-family:"Arial","sans-serif"'><br><b>Florida attorney, law firm, or in-house legal department?</b> <a href="http://visitor.r20.constantcontact.com/d.jsp?llr=ivedx5oab&p=oi&m=1115574866600&sit=agkl99iib&f=db6c35f8-1e26-4f7a-b1c2-efe61804f812">Click here to join our e-discovery email list.</a></span><o:p></o:p></p></div><div><p class=MsoNormal><span style='font-family:"Arial","sans-serif"'>Note: This email may contain confidential or privileged information. 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