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ACRENAIOP Golf Tournament Recap


  • pg 1
									Summer, 2004

                    ACRE/NAIOP Golf Tournament Recap
               By: Rick Haycock, First American Title, Golf Co-Chair

               Mother Nature provided a spectacular
               day for the nearly 280 golfers
               participating in the annual ACRE/
               NAIOP Golf Tournament on May 3rd at
               Rancho Murieta Country Club.
               Sandwiched between a few days of
               spring rain and Sacramento’s sweltering
               summer heat, golfers enjoyed
               temperatures in the low 90’s. Another
               exciting playoff on the 18 th hole
               highlighted the day and, as usual, both
               the North and South courses were in Rick Haycock, Golf Co-Chair, First American Title; Mike Padilla,
                                                       Padilla Recovery; Mark Gamba, North American Title; Scott Lippi,
               outstanding condition.                   North American Title; Steve Scurfield, North American Title, Tim
                                                                     Madden, Golf Co-Chair, Fidelity National Title
               Volunteers are what make events like
               this so successful, and our small but energetic organizing committee was certainly up to the
               challenge. To the committee, “Thanks for your efforts!!” Once again, you were successful in
               putting together the single largest golf tournament in our region dedicated exclusively to members
               of the commercial real estate community.
               It goes without saying, but I’d be remiss if I failed to thank every one of our sponsors. From our
               major sponsors, Panattoni Development Company and CitiBank Commercial Real Estate Group,
               water sponsor Sierra Spring Water, dinner sponsor Grubb & Ellis, all the lunch sponsors, and to
               each and every company that provided beverages, sponsored a contest or donated a prize, ACRE
               and NAIOP thank you for helping to make this such a great event! We know that your marketing
               dollars were well spent and we look forward to your generous assistance again next year.
               Of course, we say thanks to the golfers, too. You told us that you had a great time, the pace of
               play was excellent, and the contests were fun. For you golfers on the South course, we promise
               to have a few more beers for you next year! Congratulations once again to Scott Lippi and his
               foursome who defended their title as overall tournament champions (pictured above). Enjoy that
               perpetual trophy for another year. You give us all something to shoot for!
                          And don’t forget to mark your calendars for next year’s tournament:
                              Monday, June 13, 2005, at Rancho Murieta Country Club.

                                                                                        ACRE Summer 2004 Page 1

By: Gordon J. Duff, Esquire, Boyden, Cooluris, Livingston & Saxe PC,
2004 ACRE President

In mid-July, I received a voice mail from a writer for      the residents would be unable to
the “Sacramento Business Journal” asking for a              drive to work. “Spare the air”
comment from a real-estate developer organization on        days would be mandatory, rather
a proposal for a new law that would require that every      than voluntary. The fake house could even contain
residential real estate development contain its own         bunk beds for the homeless placed between the water
wastewater treatment plant. The treated water would         treatment equipment.
be circulated back into the subdivision to irrigate the
lawns and other landscaping. (Can you imagine no            The legislature would likely take the concept to
more subdivisions where kids spontaneously run              commercial properties. Measurement of the rentable
through the sprinklers?) I returned the call (to avoid      area in office buildings could be based upon load factors
the article stating that “calls to the president of ACRE    of 25% or more to take care of the building space
were not returned”) and suggested he call the BIA. I        allocated to waste water treatment facilities. Pads in
have no further information about the proposal, except      front of shopping centers could have fake Starbucks
that the water treatment facility would be inside a         Coffee shops. Or better yet, the wastewater treatment
“fake” house. In other words, the treatment plant would     plants could be in real coffee shops. The water could
look like one of the homes in the subdivision so “no        then be used to make….
one would know.” (At the time I am writing this, I
have limited information on the proposal, as I am           When the writer left me the message, he said he was
waiting to see the article in the Business Journal.)        “asking for a comment from a real estate developer or
Without giving an opinion on the idea, let’s explore what   developer organization, such as ‘Yeh right’ or
could happen if the idea ever became law.                   ‘Whatever.’” Why would he think we would respond
                                                            that way? (Did I mention, someone suggested to me
First of all, any new law would be just the beginning       that we should have a fake state capitol building?)
for the California full-time legislature. After all, why
stop with a water treatment plant? Why not use the          See you at the next ACRE event.
fake house to solve other “problems?” The fake house                  Duff, Esquire
                                                            Gordon J. Duf f, Esquir e
could have a fake pool that is actually a wetland. An                       President
                                                            2004 ACRE Pr esident
ozone-measuring device in the fake house could, if it
                                                            Boyden, Co oluris, Livingston & Saxe PC
detected a summer day with poor air quality, send a
signal to lock the front gate of the subdivision so that

                                                                The ACRE newsletter is published quarterly for
                                                                the membership of the Association of
                                                                Commercial Real Estate. ACRE works to
                                                                promote high standards in the field of
              SECURITY                                          commercial real estate brokerage and affiliated
          IS EVERYTHING!                                        business by fostering knowledge and ethical,
                                                                profitable and efficient activities by the
                                                                membership. ACRE welcomes manuscripts and
The ACRE website is now secure! What does this
                                                                letters to the editor. Articles should deal with
mean? It means you can register for events and
                                                                issues facing the real estate industry, may be
meetings or even join ACRE and safely pay with your
                                                                edited and will be published based on
credit card on-line! No worries about hackers or                appropriateness and space availability. For
hoodlums. Only the ACRE staff can retrieve registration         more information, contact Laura Kozier, Editor,
and payment information from our secure server.                 at (916) 922-9540.
Visit www.acre.org and register for something today!

ACRE Summer 2004 Page 2
                    END OF 2004 TO TAKE ADVANTAGE OF
                   OF $75 FOR NEWLY LICENSED AGENTS
Get your new associates started with                       Company:
ACRE membership - only $75 for first                       Address:
time members with less than two years                      City:
experience. Pass this on!                                  State:                   Zip:
                                                           Work Phone: (     )
ACRE members understand best that their investment         Fax: (     )
provides them with quality educational programs through    E-Mail:
ACRE’s monthly meetings and extraordinary                  Category:
networking opportunities at events and social              Specialty:
gatherings. ACRE’s innovative leadership for the past      Commercial Experience:          years
20 years has enhanced the professionalism of the           License Category:
commercial real estate community.                          Licensed Number:
ACRE annually produces the Broker of the Year
                                                           Issued By:
Awards, the Developer showcase and one of the largest      Which Committee(s) are you interested in?
golf tournaments in the greater Sacramento community.      ___ Programs                  ___ Membership
                                                           ___ Golf Tournament           ___ Newsletter
ACRE recognizes the value of ACRE membership,              ___ Developer Showcase
especially to new sales people in the industry. As a       References/Sponsor
part of the celebration of the 20th year anniversary,      ACRE member who will verify your application:
ACRE is extending a reduced membership rate for            Name         Company           E-mail           Phone
first-time members with less than 2 years of commercial
real estate experience. Please share this application
with the newer members of your company and urge
them to join the most successful commercial real estate
professional organization in the greater Sacramento
                                                           Membership Type
                                                            Active - Special Price ($75*)
               Membership Category                         * includes a $25 one-time initiation fee
Active: A person who is either a real estate broker or
agent, property manager or developer and who is            Please make checks payable to ACRE.
licensed by the State of California Department of Real     Payment may be made by Visa or MasterCard.
Estate, and as a principal, partner, corporate office,     Card No:
trustee, or employee, and spends at least seventy-five
                                                           Expiration Date:
(75%) of his/her working time in the field of commercial
real estate brokerage, management, or development.         Signature:
Special Qualifications: For potential active members       I attest that the information above is correct.
with less than 2 years in the industry.
                                                               Please return completed application and fees to:
                                                                     ACRE 2400 22nd Street, Suite 110
                                                                            Sacramento, CA 95818
                                                                  Tel: (916) 446-0775 Fax: (916) 451-9150

                                                                                     ACRE Summer 2004 Page 3



ACRE Summer 2004 Page 4
           South Course Winners!                     9
Rick Haycock, Golf Co-Chair, First American Title;
   Lonnie Podgomy; Ken Krebs, Wachovia Small
 Business Capital; Rick Patterson, TRI Commercial
  Real Estate Services Inc.; Tim Madden, Golf Co-
 Chair, Fidelity National Title; Tom Bacon, Bacon
Commercial, was also on the Wachovia Team, but is
                     not shown.




                                                              ACRE Summer 2004 Page 5
                THAT SAYS “PAYMENT IN FULL?”
By: Gordon J. Duff, Esquire, Boyden, Cooluris, Livingston & Saxe PC,
2004 ACRE President

As a landlord, service provider or other creditor, what do        the check should either be
you do with a check that is for less than the total amount        returned to the obligor or the
you legitimately believe is owed and you know contains            matter should be further discussed with the obligor before
the words “payment in full” or words of similar effect (on        deciding what to do. If such discussions do not resolve the
the front or the back)? I remember learning the answer in         issue, the check should then be returned to the obligor
the early 1980’s in my class on real estate preventative law      unless counsel advises to the contrary.
at CSUS. If there is a bona fide dispute as to the amount
owed and you cash the check as written, you will be deemed        b.       If you have a business organization and have not
to have accepted the terms and waived the right to collect        done so, you should consider notifying debtors, by means
what you believe is still owed. Accepting such terms is           of a conspicuous written statement, that communications
often referred to as an “accord and satisfaction.” However,       concerning disputes regarding the debt (such as rent or
my professor said you could cash the check without agreeing       amounts owed for services) are to be sent to a designated
that it is payment in full if you first scratch out the words     person, office or place, which person, office or place would
“payment in full” and write the words “no it isn’t.” In fact,     be different than the location to which payments are
under Civil Code Section 1526, enacted in 1987, mealy striking    ordinarily sent. Otherwise, your payment-processing
out the words “payment in full” (and any other words of           department may negotiate a check containing or
similar effect) is enough. Many people still believe that is      accompanied by “payment in full” language without
the law. A conflicting statute, however (Commercial Code          realizing that such language was present. If you send the
Section 3311), was enacted in 1992, without removing the          required conspicuous statement to the obligor a reasonable
prior statute. So which statute applies? A recent case states     time before the tender of the check to you, then any check
that the later enacted statute prevails.                          or accompanying communication that is not received by
                                                                  the designated person, office, or place, may be cashed by
1. The Current Law. The newer statute addresses what              you without releasing the rest of the amount owed.
happens when you cash a check that contains a statement
or is accompanied by a letter or other separate statement         c.      If you inadvertently deposit the check, then within
indicating that the check is intended to constitute full          90 days after payment of the check, you should tender
payment of an amount that is subject to a bona fide dispute.      repayment of the amount of the check to the obligor unless
In either case, if you cash the check, you are deemed to          counsel advises to the contrary. This option, however,
have agreed that the debt is fully satisfied (even if you         does not apply if you are an organization that sent the
scratch out the “payment in full” language on the check).         statement contemplated in item (b) above.
Under the newer statute, the debt is discharged if you cash       d.         Watch out, as the statute is complicated. Even if
the check, without providing you the option of striking the       you undertake one of the actions set forth in either (b) or (c)
statement. Rather, it gives you other options (discussed          above, a claim will be discharged if the obligor proves that
below) to avoid the effect of an attempted accord and             within a reasonable time before you negotiated the check,
satisfaction by means of a “payment in full” check. It should     you or your agent having direct responsibility with respect
be noted, however, that the “payment in full” language is         to the disputed obligation knew that the check was tendered
not effective unless the debtor included such language in         in full satisfaction of the claim.
good faith as full satisfaction of a claim for which either (i)
the parties have a bona fide dispute as to the amount owed        This article does not address all of the aspects of the
or (ii) the amount owed cannot be ascertained.                    referenced statutes. Any business that receives payments
                                                                  where the amounts due are in dispute, should work with
2. What should you do? Here is what you should do:                competent legal counsel to ensure proper procedures are
a.       If you receive a check containing or accompanied         put in place to avoid an inadvertent acceptance of checks
by “payment in full” or similar language (either on the front     that are intended to be payment in full of disputed debts.
or back of the check or in a separate letter or other written     DISCLAIMER: This article does not constitute legal advice.
statement accompanying the check), the check should be            Readers should consult with their own legal counsel for
negotiated only if you agree that the underlying debt will        the most current information and to obtain professional
be fully discharged once the check is paid. In other cases,       advice before acting on any of the information presented.

ACRE Summer 2004 Page 6
                                 Thursday, October 28, 2004
                                    Sheraton Grand Hotel, Sacramento
      Join us for an incredible night of celebrating the commercial real estate industry.
                        For more information visit the ACRE website at www.acre.org.

               ACRE WELCOMES NEW MEMBERS 2004!
        Scott Agee                Joseph R DosReis            Kris Kalmbach               Aaron Sandoval
  Agee Engineering Inc.             Grubb & Ellis            Cornish & Carey            Bishop Powers, Inc.
       Grace Arupo                 Mark Doughty                Gordon King                 Joe Satariano
   Downey Brand, LLP          Eagle Crest Ventures, Inc.       Alliance Title              Remax Gold
      Justin Bennett              Doug Dransfield              Jodi Lahmann                 Tom Schaal
    Trainor Robertson             Bank of America             Aircon Energy           Opus West Corporation
     William Bogner                  Bob Eynck                Brent Lawrence            Benjamin F. Slater
 Grubb & Ellis Company          RFE Engineering, Inc.      Business Law Ventures        Bishop Powers, Inc.
    Budd Brumbaugh                 J. Todd Forlini              Shelly Lind                Mike Stettner
  Old Republic Title Co.        Forlini Capital Group       Orange Coast Title           CENTEX Homes
       Ben Caputo                    Sean Fulp                Sean Mahoney                  Zac Sweet
  Colliers International          Cornish & Carey            Cornish & Carey           Colliers International
      John M. Carey              Russel W. Gallaway                                       John P. Taylor
         Greabel              Gallaway Commercial, Inc.       Patrick McHone             Ghia Real Estate
                                                            The Mechanics Bank
      Bob Chigazola                 Gail Gebhardt                                        Charles Trainor
 Legacy Roofing & Water           Cemo Commercial               Pete Noack              Trainor Robertson
        Proofing                                             CB Richard Ellis
                                    Jon Gianulias                                         Leena Walker
       Robert Cole                CB Richard Ellis              Chris Post                 Chicago Title
      Grubb & Ellis                                        NAI Sacramento Valley
                                  Sylvia Hamersley                                         Mary Wallers
       Chad Davis                 Trainor Robertson              Jeff Post              Sierra West Group
California State University                                NAI Sacramento Valley
                                   Natalie Hinkel                                        Winnifred Ward
        Kelly Dent             Ray Stone Incorporated          Randy Reuter             Trainor Robertson
Re/Max Gold Commercial                                      RE/MAX Advantage
                                      Kye Huff                                            Carolyn Wood
      Dave Dimmick                  Grubb & Ellis             Patrick Ronan           NAI Sacramento Valley
     TRI Commercial                                            Grubb & Ellis               Commercial
                                   Cyndie Jensen
       Robert Dong                 PIT Real Estate             Hoda Samuel                   Tom Yee
     CB Richard Ellis                                           Prudential             RT Yee & Associates

                                                                                   ACRE Summer 2004 Page 7
                                                       ACRE Calendar 2004
     ACRE 2004 Board of Directors
                         President                     ACRE Monthly Meeting
    Gordon Duff, Boyden, Cooluris, Livingston & Saxe   September 15, 2004 - 11:00 am
                      President-Elect                  Doubletree Hotel, Sacramento
           Bruce Hester, Colliers International
                      Vice President
         Laura Kozier, RT Yee & Associates, Inc.       ACRE/NAIOP Developer Showcase
                   Secretary/Treasurer                 October 28, 2004 - 5:30 pm
          Bradley Cutler, Citadel Equities Group       Sheraton Grand Hotel, Sacramento
                  Imm. Past President
            Kris Reilly, Grubb & Ellis Company         ACRE Monthly Meeting
                    Directors at Large                 November 17, 2004 - 11:00 am
           Bill Angove, Asset Preservation, Inc.
                                                       Doubletree Hotel, Sacramento
     Craig Bratton, Panattoni Development Company
       John Frisch, Cornish & Carey Commercial
            Rick Haycock, First American Title         ACRE Holiday Party
                Greg Kasner, Bishop Powers             December 15, 2004
        Sheryl McConsor-Smith, Bishop Powers           Location: Ink Eats & Drinks, Sacramento
                John Shelby, Five Star Bank
                     Affiliate Director
        Brian Larson, Mother Lode Van & Storage
                    Special Directors
          Becki Roberts, Sonoma National Bank
       Anthony G. Scotch, Capital Builders, Inc.
                    Executive Director
               Sandra K. Virago, CAE, ACRE

ACRE Summer 2004 Page 8

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