The Art Institutes (often commercially abbreviated and stylized as AI) is a collection of private, for-profit educational institutions for career preparation in the visual, creative, and applied arts, including design, media, fashion, and culinary programs. Nowadays there are forty five Art Institutes located in major cities across North America, and have over 125,000 graduates. The Art Institute Online, a division of The Art Institute of Pittsburgh, also has online courses available. The AI awards master’s degrees, bachelor’s degrees, associate’s degrees, and non-degree-program certificates. AI is headquartered in Pittsburgh, and is a division of Education Management Corporation (EDMC). Educational accreditation of The Art Institutes and their programs varies among campuses and programs.At the present day the Institutes announced that they will help to both, the domestic students and the international students from the universities in New Orleans, southern Louisiana, Mississippi and Alabama universities. These universities were closed on the indefinite term after the damaging cause of the Hurricane Katrina. All the students appeared without homes and educational establishments. And the Institutes decided to take care of those students and take them to continue their studying.All the AI will provide for the international students both on-campus and online courses. This will give to students the opportunity to continue their academic studies, even at the distance. They can succeed in their academic careers during this semester of disruption. Students who were to finish their study because of the Hurricane Katrina can be registered at any of the Art Institutes. There are thirty one locations in the country where students can enter. The international students can be enrolled for courses on a space-available basis for the fall semester.This terrible event took place in 2005. That was the beginning of the semester, thus students have paid their tuition. That is why the Institutes will waive tuition for those students who have already registered and paid their tuition at their home institutions for the fall semester. But in the case if they have not yet paid their tuition at their home institution, they will be given the lesser of the current published tuition and fees at the home institution. The school president mentioned that the AI have already published tuition and fees for the fall semester.The president of the Art Institutes Dave Pauldine said that they would try to assist the poor students whose lives and education have been impacted by the Hurricane Katrina. He also said that the AI were the only way for students to continue their studies and to improve their skills. These institutes offered that initiative as the way to reach out to the students in the Gulf Coast region whose lives were endangered by the Hurricane Katrina in the 2005.The Institutes is a group of thirty one (that was the number of institutes in 2005) higher educational establishments which are located throughout North America. They offer a wide range of educational programs among which are audio production, culinary arts, culinary management, fashion design, fashion marketing, graphic design, industrial design technology, interior design, media arts & animation, multimedia & Web design, photography, restaurant management and video production. These are not the all programs which are offered, they are more numerous in number. The Institution offer a lot of programs which are not available in others higher educational establishments.The AI operate in different towns and cities all over the North America. There are representatives of the Art Institutes in Atlanta, Arlington, VA (as The Art Institute of Washington), Boston (as The New England Institute of Art), Charlotte, Chicago and Schaumburg, IL, Cincinnati (as The Art Institute of Ohio – Cincinnati), Dallas, Denver, Fort Lauderdale, Houston, Las Vegas, Los Angeles (as The Art Institute of California – Los Angeles and California Design College), Miami (as Miami International University of Art & Design), Minneapolis, New York, Orange County, CA, Philadelphia, Phoenix, Pittsburgh, Portland, San Diego, San Francisco, Seattle, Tampa, Toronto, Vancouver (as The Art Institute of Vancouver, York, PA (as Bradley Academy of the Visual Arts) and The Art Institute Online, a division of The Art Institute of Pittsburgh.The Art Institute of Pittsburgh – Online Division, is a part of The AI system of schools with more than 40 locations throughout North America. The Institute of Pittsburgh – Online Division was launched in 2000.Founded in 1921, The Institute of Pittsburgh supports online programs with more than 85 years of excellence. With 16 academic programs, The Art Institute of Pittsburgh – Online Division is the leader in online creative arts education. The Institute of Pittsburgh is accredited by the Accrediting Council for Independent Colleges and Schools (ACICS). The AI of Pittsburgh is authorized by the Pennsylvania Department of Education to award Bachelor of Science and Associate of Science degrees. It provides courses that are designed using the same curriculum taught at The Institute of Pittsburgh. The big advantage is you can attend class fully online and at anytime to fit your busy schedule. At The Institute of Pittsburgh – Online Division, you’re in control. At graduation you will receive a degree or diploma awarded from The Institute of Pittsburgh. You will be invited to attend your graduation ceremony in Pennsylvania where you can walk with your cap and gown. You can also participate in our portfolio review show, where you can present your work to potential employers.From this article you received the information about the creativity and a good organization of the Institutes, which agreed to help those poor students who were endangered by the Hurricane Katrina. They have lost their homes and the places of education, but the Art Institutes gave them the opportunity to continue their education and received the ability to study. These institutes gave those students the ability to build their careers and to make them successful. These institutes made the act of kindness when they present them one more chance to make a successful life and career.
10 Things Every Buyer Needs – To Close A Commercial Real Estate Loan
For nearly 30 years, I have represented borrowers and lenders in commercial real estate transactions. During this time it has become apparent that many Buyers do not have a clear understanding of what is required to document a commercial real estate loan. Unless the basics are understood, the likelihood of success in closing a commercial real estate transaction is greatly reduced.Throughout the process of negotiating the sale contract, all parties must keep their eye on what the Buyer’s lender will reasonably require as a condition to financing the purchase. This may not be what the parties want to focus on, but if this aspect of the transaction is ignored, the deal may not close at all.Sellers and their agents often express the attitude that the Buyer’s financing is the Buyer’s problem, not theirs. Perhaps, but facilitating Buyer’s financing should certainly be of interest to Sellers. How many sale transactions will close if the Buyer cannot get financing?This is not to suggest that Sellers should intrude upon the relationship between the Buyer and its lender, or become actively involved in obtaining Buyer’s financing. It does mean, however, that the Seller should understand what information concerning the property the Buyer will need to produce to its lender to obtain financing, and that Seller should be prepared to fully cooperate with the Buyer in all reasonable respects to produce that information.Basic Lending CriteriaLenders actively involved in making loans secured by commercial real estate typically have the same or similar documentation requirements. Unless these requirements can be satisfied, the loan will not be funded. If the loan is not funded, the sale transaction will not likely close.For Lenders, the object, always, is to establish two basic lending criteria:1. The ability of the borrower to repay the loan; and2. The ability of the lender to recover the full amount of the loan, including outstanding principal, accrued and unpaid interest, and all reasonable costs of collection, in the event the borrower fails to repay the loan.In nearly every loan of every type, these two lending criteria form the basis of the lender’s willingness to make the loan. Virtually all documentation in the loan closing process points to satisfying these two criteria. There are other legal requirements and regulations requiring lender compliance, but these two basic lending criteria represent, for the lender, what the loan closing process seeks to establish. They are also a primary focus of bank regulators, such as the FDIC, in verifying that the lender is following safe and sound lending practices.Few lenders engaged in commercial real estate lending are interested in making loans without collateral sufficient to assure repayment of the entire loan, including outstanding principal, accrued and unpaid interest, and all reasonable costs of collection, even where the borrower’s independent ability to repay is substantial. As we have seen time and again, changes in economic conditions, whether occurring from ordinary economic cycles, changes in technology, natural disasters, divorce, death, and even terrorist attack or war, can change the “ability” of a borrower to pay. Prudent lending practices require adequate security for any loan of substance.Documenting The LoanThere is no magic to documenting a commercial real estate loan. There are issues to resolve and documents to draft, but all can be managed efficiently and effectively if all parties to the transaction recognize the legitimate needs of the lender and plan the transaction and the contract requirements with a view toward satisfying those needs within the framework of the sale transaction.While the credit decision to issue a loan commitment focuses primarily on the ability of the borrower to repay the loan; the loan closing process focuses primarily on verification and documentation of the second stated criteria: confirmation that the collateral is sufficient to assure repayment of the loan, including all principal, accrued and unpaid interest, late fees, attorneys fees and other costs of collection, in the event the borrower fails to voluntarily repay the loan.With this in mind, most commercial real estate lenders approach commercial real estate closings by viewing themselves as potential “back-up buyers”. They are always testing their collateral position against the possibility that the Buyer/Borrower will default, with the lender being forced to foreclose and become the owner of the property. Their documentation requirements are designed to place the lender, after foreclosure, in as good a position as they would require at closing if they were a sophisticated direct buyer of the property; with the expectation that the lender may need to sell the property to a future sophisticated buyer to recover repayment of their loan.Top 10 Lender DeliveriesIn documenting a commercial real estate loan, the parties must recognize that virtually all commercial real estate lenders will require, among other things, delivery of the following “property documents”:1. Operating Statements for the past 3 years reflecting income and expenses of operations, including cost and timing of scheduled capital improvements;2. Certified copies of all Leases;3. A Certified Rent Roll as of the date of the Purchase Contract, and again as of a date within 2 or 3 days prior to closing;4. Estoppel Certificates signed by each tenant (or, typically, tenants representing 90% of the leased GLA in the project) dated within 15 days prior to closing;5. Subordination, Non-Disturbance and Attornment (“SNDA”) Agreements signed by each tenant;6. An ALTA lender’s title insurance policy with required endorsements, including, among others, an ALTA 3.1 Zoning Endorsement (modified to include parking), ALTA Endorsement No. 4 (Contiguity Endorsement insuring the mortgaged property constitutes a single parcel with no gaps or gores), and an Access Endorsement (insuring that the mortgaged property has access to public streets and ways for vehicular and pedestrian traffic);7. Copies of all documents of record which are to remain as encumbrances following closing, including all easements, restrictions, party wall agreements and other similar items;8. A current Plat of Survey prepared in accordance with 2011 Minimum Standard Detail for ALTA/ACSM Land Title Surveys, certified to the lender, Buyer and the title insurer;9. A satisfactory Environmental Site Assessment Report (Phase I Audit) and, if appropriate under the circumstances, a Phase 2 Audit, to demonstrate the property is not burdened with any recognized environmental defect; and10. A Site Improvements Inspection Report to evaluate the structural integrity of improvements.To be sure, there will be other requirements and deliveries the Buyer will be expected to satisfy as a condition to obtaining funding of the purchase money loan, but the items listed above are virtually universal. If the parties do not draft the purchase contract to accommodate timely delivery of these items to lender, the chances of closing the transaction are greatly reduced.Planning for Closing CostsThe closing process for commercial real estate transactions can be expensive. In addition to drafting the Purchase Contract to accommodate the documentary requirements of the Buyer’s lender, the Buyer and his advisors need to consider and adequately plan for the high cost of bringing a commercial real estate transaction from contract to closing.If competent Buyer’s counsel and competent lender’s counsel work together, each understanding what is required to be done to get the transaction closed, the cost of closing can be kept to a minimum, though it will undoubtedly remain substantial. It is not unusual for closing costs for a commercial real estate transaction with even typical closing issues to run thousands of dollars. Buyers must understand this and be prepared to accept it as a cost of doing business.Sophisticated Buyers understand the costs involved in documenting and closing a commercial real estate transaction and factor them into the overall cost of the transaction, just as they do costs such as the agreed upon purchase price, real estate brokerage commissions, loan brokerage fees, loan commitment fees and the like.Closing costs can constitute significant transaction expenses and must be factored into the Buyer’s business decision-making process in determining whether to proceed with a commercial real estate transaction. They are inescapable expenditures that add to Buyer’s cost of acquiring commercial real estate. They must be taken into account to determine the “true purchase price” to be paid by the Buyer to acquire any given project and to accurately calculate the anticipated yield on investment.Some closing costs may be shifted to the Seller through custom or effective contract negotiation, but many will unavoidably fall on the Buyer. These can easily total tens of thousands of dollars in an even moderately sized commercial real estate transaction in the $1,000,000 to $5,000,000 price range.Costs often overlooked, but ever present, include title insurance with required lender endorsements, an ALTA Survey, environmental audit(s), a Site Improvements Inspection Report and, somewhat surprisingly, Buyers attorney’s fees.For reasons that escape me, inexperienced Buyers of commercial real estate, and even some experienced Buyers, nearly always underestimate attorneys fees required in any given transaction. This is not because they are unpredictable, since the combined fees a Buyer must pay to its own attorney and to the Lender’s attorney typically aggregate around 1% of the Purchase Price. Perhaps it stems from wishful thinking associated with the customarily low attorneys fees charged by attorneys handling residential real estate closings. In reality, the level of sophistication and the amount of specialized work required to fully investigate and document a transaction for a Buyer of commercial real estate makes comparisons with residential real estate transactions inappropriate. Sophisticated commercial real estate investors understand this. Less sophisticated commercial real estate buyers must learn how to properly budget this cost.ConclusionConcluding negotiations for the sale/purchase of a substantial commercial real estate project is a thrilling experience but, until the transaction closes, it is only ink on paper. To get to closing, the contract must anticipate the documentation the Buyer will be required to deliver to its lender to obtain purchase money financing. The Buyer must also be aware of the substantial costs to be incurred in preparing for closing so that Buyer may reasonably plan its cash requirements for closing. With a clear understanding of what is required, and advanced planning to satisfy those requirements, the likelihood of successfully closing will be greatly enhanced.
Electronic Gadgets Sales For Morons: Ten+ Devices You Can Wear
Electronics and clothes could well be the perfect combination.Man has always been enamoured with gadgets and more so if it is packed with a lot of electronic features and other amazing stuff courtesy of the advancements in technology in our day. Electronic items are indisputably hot items in the market today and entrepreneurs or online resellers like you will have a better chance of making it big in this business by retailing electronic gadgets.An additional fact that business people have leveraged on for centuries is man’s unique tendencies to accessorize. Literally millions of trinkets, jewelries and other accessories have flooded the marketplace for so long and still people continue to buy these things to give highlights or enhance their clothing. With technology churning out a wide variety of electronic gadgets, it was only a matter of time before these devices transcended from their main functions and entered the realm of fashion.Fashion And Technology Together At LastWhat was normally not attributed as fashion items, wearable gadgets are little by little making their presence felt in the fashion industry as more and more people are jumping on this trend. This provides wonderful opportunities for electronic gadget for sellers like you wanting to broaden their consumer base and including people wanting to have wearable gadgets as part of their wardrobe. If you’re a businessman purely engaged in garments or fashion accessories you should also investigate adding electronics items that would complement or enhance the clothing items you are selling.You must think about however, that you will be marketing wearable gadgets to consumers of a different kind. They may possibly be different from previous enthusiasts of electronic gadgets or people who are solely fashion buffs. However, people’s lifestyles have changed over the years and many are continually on the move and would want to bring or have access to communications and information anywhere they go.This piece of information would be one of the central marketing elements that you should have in mind when advertising these gadgets as part of listings for wearable gadgets, fashion accessories or consumer electronics.10 Plus Gadget Clothing ItemsThe following are some of the hottest selling wearable electronic gadgets that you can add to your online store, whether you’re selling electronics items or fashion accessories. Depending on your store forte, you can offer product descriptions that would cater to the needs of your prospective buyers.* Wrist Band BatteryWho says that an emergency power supply can’t be stylish? A Wrist band portable battery can be that and much more. Not only will you have a readily available power source for your handheld electronic gadgets, you’ll also have fashionable band that will fit infallibly on your wrist. List this device together with its specifications and functions including the type of batteries it has, the connector types, the voltage outputs and the components and accessories included in the package.* LED WristwatchThe times are seriously a shifting and everything is going high tech – so why not your timepieces as well! LED watches are like amazing gadgets coming right out of some comic book or sci-fi show with their amazing single or multi-colored LED display that not only tells the time but is quite seductive and fashionable as well – whether your buyer is a scientist, a nerd, techie, sportsperson or fashion icon. List the item down together with its functions and specifications as well as its cosmetic features that would cater to both gadget junkies and fashion buffs.* Spy WristwatchSpy gadgets and surveillance tools are in a fast-selling niche of their own, but adding a little bit of fashion elements to their main features will double their allure even more. List the item describing the video and recording capabilities of its DVR, video formats and memory together with others including describing how the gadget can work well with various kinds of clothing – whether they be sporty, rakish or modish.* Watch Cellular PhonePeople have been fiddling with watch phone for years, trying to come up with a good model that can approximate those amazing devices only seen on sci-fi or spy movies. The advancements in cutting-edge technologies not only made these wearable gadgets a actuality but made them exceedingly trendy too. Even fashion icons find them stylish enough to wear nowadays. It is important to provide accurate specifics about the gadget’s GSM compatibilities, memory specifications, and multimedia support.* Bluetooth BraceletOn no account fail to notice a call when your cell phone is in silent mode or when the environment is noisy enough you missed hearing your phone ring. The wristlet uses Bluetooth technologies to synchronize with your phone, alerting you with vibrate and caller ID functions whenever an incoming call is received. Sell these items by listing their specifications like Bluetooth versions, frequencies, and supplementary features including describing how the items can also be a stylish but functional addition to your user’s wardrobe.* LED ShirtGrab attention at parties, concerts, raves and other gatherings with sound activated electroluminescence shirts that respond and move to your music’s cadence. People would surely want to talk to you after getting their smiles and attention with this amazing display that combines first-rate fashion with high technology. Just don’t forget to caution your buyers that these are hand-washed only!* MP3 HeadphonesScores of people would want to listen to their favorite music anywhere they go and folding headphones with a built-in MP3 player would be one of the coolest and most trendy gadgets they can bring anywhere. This electronic gadgets portability is excellent that anyone can fold it and put it any small bag or jacket. When worn not only will the user listen to a variety of supported music formats but the cosmetic design is good enough to wear with any stylish or casual clothing.* Earphone BeanieThe cold days are soon coming and your customers would surely want to wear a stylish beanie while listening to their favorite music – so why not offer them both with a classy headset beanie. Not only can it be very comfortable to wear in any outdoor sports activities, the device can be linked to any audio or multimedia players and other comparable tech gadgets.* Video SpecsThe future is here now with the advent of very stylish portable video glasses that allow the users to look at a show or play their favorite video game on a 40-inch virtual display even when on the move like riding on a bus, train or in the park. These glasses are lightweight and comfortable to wear and can be connected to any portable media players. These devices are magnificent items to sell on your online store so be sure to list down compatible gadgets, memory capacities and other features that your prospective buyers would surely want to experience.* Spy GlassesIf video glasses permit you to watch film’s or play a video game, spy glasses have built in spy cameras that you can use to capture images and footages without anyone suspecting. The glasses look classy and can even be sexy and would blend well with any clothing – great for any covert or surveillance work. When creating a listing for this product, be sure to list the brand of camera sensor it uses, the memory capacity, battery life, video resolution and other similar features and specifications.* MP3 / Bluetooth GlassesNowadays, mobility is a feature people are always looking for and combining an MP3 player, a Bluetooth headset and stylish sunglasses would surely be one of the top wearable electronic gadgets these people would want in their wardrobe. The device can be paired with any cellphone or device allowing the user to listen or speak comfortably anywhere they go. The product is stylish enough to be worn with any clothing but provides the same level of functionality they can get from other devices bought separately.Functionality, mobility and style are the trends of electronic devices in the future and the availability of these devices now puts anyone ahead of the race. Capitalizing on this growing need can be very lucrative indeed as can cater to equally the requirements of electronic gadget buffs and fashion icons – and anyone in between.