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Wiki	Wiki Summary
Real estate agent	The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, that is authorized to act on behalf of another (called the principal) to create legal relations with a third party. Succinctly, it may be referred to as the equal relationship between a principal and an agent whereby the principal, expressly or implicitly, authorizes the agent to work under their control and on their behalf.
Sunny Day Real Estate	Sunny Day Real Estate is an American emo band from Seattle. They were one of the early rock bands in the Midwest emo scene and helped establish the genre, despite not actually being from the Midwest themselves.
Real estate investment trust	A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping centers, hotels and commercial forests.
Real estate appraisal	Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value). Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a centralized Walrasian auction like a stock exchange is unrealistic).
Property tax	Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property.
Availability heuristic	The availability heuristic, also known as availability bias, is a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision. The availability heuristic operates on the notion that if something can be recalled, it must be important, or at least more important than alternative solutions which are not as readily recalled.
Availability	In reliability engineering, the term availability has the following meanings:\n\nThe degree to which a system, subsystem or equipment is in a specified operable and committable state at the start of a mission, when the mission is called for at an unknown, i.e. a random, time.
High availability	High availability (HA) is a characteristic of a system which aims to ensure an agreed level of operational performance, usually uptime, for a higher than normal period.\nModernization has resulted in an increased reliance on these systems.
Not Available	Not Available is the second studio album (released as the fourth) by the Residents, recorded in 1974. The album was allegedly meant to only be released once its creators completely forgot about its existence (adhering to their "Theory of Obscurity," in which an artist's purest work is created without an audience) - however, due to ongoing delays in the release of Eskimo, Not Available was released to supply the demand for new Residents material, given their unexpected critical and commercial success following the release of the Duck Stab EP.\n\n\n== History ==\nIt is said that the lyrics and themes of Not Available arose from personal tensions within the group, and that the project began as a private psychodrama before being adapted into a possible operetta.
Availability factor	The availability factor of a power plant is the amount of time that it is able to produce electricity over a certain period, divided by the amount of the time in the period. Occasions where only partial capacity is available may or may not be deducted.
High-availability cluster	High-availability clusters (also known as HA clusters, fail-over clusters) are groups of computers that support server applications that can be reliably utilized with a minimum amount of down-time. They operate by using high availability software to harness redundant computers in groups or clusters that provide continued service when system components fail.
Availability cascade	An availability cascade is a self-reinforcing cycle that explains the development of certain kinds of collective beliefs. A novel idea or insight, usually one that seems to explain a complex process in a simple or straightforward manner, gains rapid currency in the popular discourse by its very simplicity and by its apparent insightfulness.
Sustainable development	Sustainable development is an organizing principle for meeting human development goals while also sustaining the ability of natural systems to provide the natural resources and ecosystem services on which the economy and society depend. The desired result is a state of society where living conditions and resources are used to continue to meet human needs without undermining the integrity and stability of the natural system.
Arrested Development	Arrested Development is an American television sitcom created by Mitchell Hurwitz, which originally aired on Fox for three seasons from 2003 to 2006, followed by a two-season revival on Netflix from 2013 to 2019. The show follows the Bluths, a formerly wealthy dysfunctional family.
Development/For!	Development/For! (Latvian: Attīstībai/Par!, AP!) is a liberal political alliance in Latvia.
Research and development	Research and development (R&D or R+D), known in Europe as research and technological development (RTD), is the set of innovative activities undertaken by corporations or governments in developing new services or products, and improving existing ones. Research and development constitutes the first stage of development of a potential new service or the production process.
Child development	Child development involves the biological, psychological and emotional changes that occur in human beings between birth and the conclusion of adolescence. Childhood is divided into 3 stages of life which include early childhood, middle childhood, late childhood ( preadolescence).
Personal development	Personal development or self improvement consists of activities that develop a person's capabilities and potential, build human capital, facilitate employability, and enhance quality of life and the realization of dreams and aspirations. Personal development may take place over the course of an individual's entire lifespan and is not limited to one stage of a person's life.
Special Activities Center	The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015.
Twenty-one Conditions	The Twenty-one Conditions, officially the Conditions of Admission to the Communist International, refer to the conditions, most of which were suggested by Vladimir Lenin, to the adhesion of the socialist parties to the Third International (Comintern) created in 1919. The conditions were formally adopted by the Second Congress of the Comintern in 1920.
Nervous Conditions	Nervous Conditions is a novel by Zimbabwean author Tsitsi Dangarembga, first published in the United Kingdom in 1988. It was the first book published by a black woman from Zimbabwe in English.
Conditions of Learning	Conditions of Learning, by Robert M. Gagné, was originally published in 1965 by Holt, Rinehart and Winston and describes eight kinds of learning and nine events of instruction. This theory of learning involved two steps.
Standard temperature and pressure	Standard temperature and pressure (STP) are standard sets of conditions for experimental measurements to be established to allow comparisons to be made between different sets of data. The most used standards are those of the International Union of Pure and Applied Chemistry (IUPAC) and the National Institute of Standards and Technology (NIST), although these are not universally accepted standards.
Software development	Software development is the process of conceiving, specifying, designing, programming, documenting, testing, and bug fixing involved in creating and maintaining applications, frameworks, or other software components. Software development involves writing and maintaining the source code, but in a broader sense, it includes all processes from the conception of the desired software through to the final manifestation of the software, typically in a planned and structured process.
Arithmetic	Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Bitwise operation	In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Emergency operations center	An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Surgery	Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Polyacrylamide gel electrophoresis	Polyacrylamide gel electrophoresis (PAGE) is a technique widely used in biochemistry, forensic chemistry, genetics, molecular biology and biotechnology to separate biological macromolecules, usually proteins or nucleic acids, according to their electrophoretic mobility. Electrophoretic mobility is a function of the length, conformation and charge of the molecule.
Michael Page	Michael Jerome Reece-Page (born 7 April 1987) is a British kickboxer, boxer, and mixed martial artist. He is recognised in the MMA community for his unorthodox fighting style, which originated from freestyle kickboxing (points fighting) and sport karate.
Larry Page	Lawrence Edward Page (born March 26, 1973) is an American computer scientist and internet entrepreneur. He is best known for co-founding Google with Sergey Brin.Page was the chief executive officer of Google from 1997 until August 2001 (stepping down in favor of Eric Schmidt) then from April 2011 until July 2015 when he moved to become CEO of Alphabet Inc.

Risk Factors
CONSOLIDATED TOMOKA LAND CO Item 1A RISK FACTORS
6 ITEM 1A RISK FACTORS - ------- ------------ The real estate business is subject to a number of significant risks
The risks described below may not be the only risks which potentially could impact our business
These additional risks include those which are unknown at this time or that are currently considered immaterial
If any of the circumstances described below actually occur to a significant degree, our business, financial condition, and/or results of operations could suffer, and the trading price of the Companyapstas common stock could decline
FUTURE CHANGES IN THE REAL ESTATE MARKET COULD AFFECT THE VALUE OF - ------------------------------------------------------------------ OUR PROPERTIES AND BUSINESS - --------------------------- We have extensive real estate holdings in the City of Daytona Beach in Volusia County, Florida
The value of the real property and the revenue from related sale and/or development activities may be adversely affected by a number of factors, including: * national, regional, and local economic climate; * local real estate conditions (such as an oversupply of land or a reduction in demand for real estate in an area); * competition from other available property; * availability of roads and utilities; * unexpected construction costs or delays; * government regulations and changes in real estate, zoning, land use, environmental or tax laws; * interest rate levels and the availability of financing; and * potential liabilities under environmental and other laws
ABILITY TO SUCCESSFULLY EXECUTE ACQUISITION OR DEVELOPMENT STRATEGIES - --------------------------------------------------------------------- There is no assurance the we will be able to continue to implement our strategy of investing in income properties successfully
Additionally, there is no assurance that the income property portfolio will expand at all, or if it will expand at any specified rate or to any specified size
In addition, investment in additional real estate assets is subject to a number of risks
As we expect to invest in markets other than the ones in which currently owned properties are located, we will be subject to risks associated with investment in new markets that may be relatively unfamiliar
Development activities are subject to the risks normally associated with these activities
These risks include those relating to the availability and timely receipt of zoning and other regulatory approvals, the cost and timely completion of construction (including risks from factors beyond our control, such as weather or labor conditions or material shortages), and the ability to obtain both construction and permanent financing on favorable terms
These risks could result in substantial unanticipated delays or expenses and, under certain circumstances, could prevent completion of development activities once undertaken or provide a tenant the opportunity to terminate a lease
Any of these situations may delay or eliminate proceeds or cash flows expected from these projects, which could have an adverse affect on financial condition and results of operations
OUR OPERATIONS COULD BE NEGATIVELY IMPACTED BY THE LOSS OF KEY - -------------------------------------------------------------- MANAGEMENT PERSONNEL - -------------------- Our future success depends, to a significant degree, on the efforts of each member of senior management
Replacement of any member of senior management could adversely affect our operations and our ability to execute business strategies
Our Company does not have key man life insurance policies on members of senior management
6 ITEM 1A RISK FACTORS (CONTINUED) - ------- ----------------------- CHANGES IN LOCAL, REGIONAL, AND NATIONAL ECONOMIC CONDITIONS COULD - ------------------------------------------------------------------ ADVERSELY AFFECT OUR BUSINESS - ----------------------------- The real estate development industry is cyclical in nature and is particularly vulnerable to shifts in local, regional, and national economic conditions outside of our control, such as: * short and long-term interest rates; * housing demand; * population growth; * employment levels and job growth; and * property taxes
The real estate business is subject to a number of economic factors including the impact of rising and falling interest rates, which can affect the ability of purchasers to obtain financing, and population growth, which impacts supply and demand for new homes, as well as goods and services; and hence, land to meet those needs
Any decline in the regional or national economies could adversely impact real estate sales and revenues
Accordingly, financial condition could be adversely affected by any weakening in the regional or national economy
In addition, weather conditions and natural disasters such as hurricanes, tornadoes, floods, droughts, fires, and other environmental conditions can adversely affect the Companyapstas business
THE REAL ESTATE BUSINESS IS SUBJECT TO ENVIRONMENTAL AND - -------------------------------------------------------- LAND USE REGULATIONS - -------------------- We are subject to a wide variety of federal, state, and local laws and regulations relating to land use and development and to environmental compliance and permitting obligations, including those related to the use, storage, discharge, emission, and disposal of hazardous materials
Any failure to comply with these laws could result in capital or operating expenditures or the imposition of severe penalties or restrictions on operations that could adversely affect present and future operations
Municipalities may restrict or place moratoriums on the availability of utilities, such as water and sewer taps
Additionally, development moratoriums may be imposed due to over capacity roads
In some areas, municipalities may enact growth control initiatives, which will restrict the number of building permits available in a given year
If municipalities in which the Company owns land and operates take actions like these, it could have an adverse affect by causing delays, increasing costs, or limiting the ability to operate in those municipalities
WE SELL PROPERTY IN A HIGHLY COMPETITIVE MARKET, WHICH COULD - ------------------------------------------------------------ HURT FUTURE BUSINESS - -------------------- Our competitors are primarily other landowners in the Volusia County area
These competitive conditions can make it difficult to sell land at desirable prices and can adversely affect operations, financial condition, or results of operations
7 ITEM 1A RISK FACTORS (CONTINUED) - ------- ----------------------- OUR QUARTERLY RESULTS ARE SUBJECT TO VARIABILITY - ------------------------------------------------ We derive a substantial portion of our income from land sales
The timing of commercial land sales activity is not predictable and is generally subject to the purchaserapstas ability to obtain approvals from the city, county and regulatory agencies for their intended use of the land on a timely basis
As these approvals are subject to third party responses, it is not uncommon for delays to occur, which affect the timing of sales closings
These timing issues have caused, and may continue to cause, our operating results to vary significantly from quarter to quarter and year to year
LOSS OF REVENUES FROM MAJOR TENANTS WOULD REDUCE CASH FLOW - ---------------------------------------------------------- The two largest income property tenants CVS and Walgreens accounted for an aggregate of approximately 65prca of base rent as of December 31, 2005
The default, financial distress, or bankruptcy of one or both of these tenants could cause substantial vacancies
Vacancies reduce revenues until the affected properties can be re-leased and could decrease the ultimate sale value of each such vacant property
Upon the expiration of the leases that are currently in place, we may not be able to re-lease a vacant property at a comparable lease rate or without incurring additional expenditures in connection with such re- leasing
THERE ARE A NUMBER OF RISKS INHERENT IN OWNING INCOME PROPERTIES - ---------------------------------------------------------------- Factors beyond our control can affect the performance and value of the income properties &apos portfolio
Changes in national, regional, and local economic and market conditions may affect the performance of the income properties and their value
Local real estate market conditions may include excess supply and intense competition for tenants, including competition based on: * rental rates; * attractiveness and location of the property; and * quality of maintenance, insurance, and management services
In addition, other factors may adversely affect the performance and value of the income properties, including changes in laws and governmental regulations, changes in interest rates, and the availability of financing
In addition, because real estate investments are relatively illiquid, the ability to adjust the portfolio of income properties promptly in response to economic or other conditions is limited
Certain significant expenditures generally do not change in response to economic or other conditions, including debt service (if any), real estate taxes, and operating and maintenance costs
8 ITEM 1A RISK FACTORS (CONTINUED) - ------- ----------------------- FUTURE GROWTH AND REAL ESTATE DEVELOPMENT REQUIRES ADDITIONAL CAPITAL - --------------------------------------------------------------------- WHOSE AVAILABILITY IS NOT ASSURED - --------------------------------- We expect to continue making investments in real estate development
Based on the status of several specific real estate projects, we will continue to invest significant amounts in real estate over the next several years
We could finance future expenditures from any of the following sources: * cash flow from operations; * bank borrowings; * non-recourse, sale leaseback, or other financing; * public offerings of debt or equity; * private placement of debt or equity; or * some combination of the above
Financing for future expenditures may not be available on favorable terms or at all
COMPETITION AND MARKET CONDITIONS RELATING TO GOLF OPERATIONS - ------------------------------------------------------------- COULD ADVERSELY AFFECT OPERATING RESULTS - ---------------------------------------- Golf operations face competition from similar nearby golf operations
Any new competitive golf operations that are developed close to our existing golf operations also may adversely impact results of operations
Golf operations are also subject to adverse market conditions such as population trends and changing demographics, any of which could adversely affect results of operations
In addition, the golf operations may suffer if the economy weakens, if the popularity of golf decreases, or if unusual weather conditions or other factors cause a reduction in rounds played
Our golf operations are seasonal, primarily due to the impact of the winter tourist season and summer Florida heat and rain
OUR COMMON STOCK IS THINLY TRADED, AND THEREFORE, THE STOCK - ----------------------------------------------------------- PRICE MAY FLUCTUATE MORE THAN THE STOCK MARKET AS A WHOLE - --------------------------------------------------------- As a result of the thin trading market for our stock, its market price may fluctuate significantly more than the stock market as a whole or the stock prices of similar companies
Among other things, trading of a relatively small volume of common stock may have a greater impact on the trading price than would be the case if public float were larger