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Show Page B2 Friday, April 1, 1983 Park City News Wi?M (Popup Mdmong Real Estate Investing och falters in nordic finale ! Michael Sloan, Broker ?WL K REAL ESTATE BANKING LAW AND REAL ESTATE QUESTION: Do you see anything in the new banking law that will have an effect on real estate investment? ANSWER: President Reagan, in signing the Depository Institutions Act of 1982, described it as the most important impor-tant piece of legislation relative to financial institutions in the last 50 years. In essence, the new law gives federal savings and loan associations and federal savings banks greater flexibility in obtaining and disbursing funds. This should mean that banks will now be more competitive with other financialinvestment institutions. in-stitutions. Banks are currently offering insured money market accounts and Super NOW accounts as a direct result of this legislation. How much new money rather than money from internal inter-nal transfer from regular savings accounts ac-counts is generated, only time will tell. It is probably safe to assume that most real estate investors would optimistically op-timistically support this new legislation. If lenders are able to attract new deposits, they will have more money to lend. Lenders have always been favorably disposed to the mortgaging mor-tgaging of real estate. When was the last time a Wall Street firm offered to finance your next investment? Specific to real estate investment, the law now allows associations to make loans on non-residential real property up to 40 percent of their assets. It clarifies and expands the role credit unions may play in financing real estate. It also broadens the discretionary authority which federally charted banks have in dealing with alternative mortgage instruments. Cross your fingers. The new law looks good. Let's discuss your investment needs. Call us at 801-649-9134 or stop by the Group 1 Real Estate Offices at 750 East Kearns Boulevard, Park City, Utah 84060. We look forward to meeting you and answering your investment questions. -Advertisement finishes third in standings Hey, two out of three ain't bad. Going into last weekend's World Cup finale in Canada, Bill Koch was leading the overall nordic standings and had the chance to give the United States its third concurrent con-current championship (Phil Mahre and Tamara McKin-ney McKin-ney having already won World Cup titles in men's and women's alpine skiing). But he couldn't quite do it. The long season finally seemed to catch up with Koch, the defending World Cup champion, as he struggled strug-gled to ninth place in a 30-kilometer race held Saturday Sat-urday in Labrador City, Canada. Emerging with the overall nordic title for the 1982-83 season was Soviet Alexander Zavjalov, whose second-place second-place finish Saturday propelled pro-pelled him past Koch in the standings. The winner of the Labrador Labra-dor City race was Sweden's Gunde Svan, who also garnered gar-nered enough World Cup points to slip past Koch in the race for the overall title. The final season standings found Zavjalov with 122 points followed by Svan with 116 and Koch with 114. In the top 10 overall there were four Soviets, two Swedes and two Norwegians. Other Americans Ameri-cans included Tim Caldwell (25th) and Jim Galanes (26th). "This just wasn't Kochie's day," said Mike Gallagher, head U.S. cross-country coach. "Svan really skied well and Zavjalov had really regrouped and ran a strong race. We're a little disappointed dis-appointed about today but you can't take anything away from the year Bill had." Svan covered the 30 kilometers kilo-meters in one hour, 27 minutes and 24 seconds, while Zavjalov came home in one hour, 28 minutes and 13 seconds. Rounding out the top five were Sweden's Thomas Wassberg, Vladimir Nikitin of the Soviet Union and Jan Lindvall of Norway. In the women's overall nordic standings, first place went to Finland's Marja Liisa Hamalainen, who slipped past Brit Pettersen of Norway, thanks to a win in Saturday's 10-kilometer race in Labrador City. Hamalai nen finished with 144 World Cup points, eight better than Pettersen. In other nordic action last weekend, Finland's Matti Nykaenen wrapped up the overall title in jumping Saturday by winning the 70-meter portion of the World Cup finals in Panica, Yugoslavia. Yugo-slavia. Canadian Horst Bu-lau, Bu-lau, the only other jumper with a chance at the overall title going into the finals, could only manage a fifth-place fifth-place showing, not enough to overtake Nykaenen. Top American of the day was Jeff Hastings, who finished eighth. In the 90-meter finals Sunday, Yugoslavia's Pal-mos Pal-mos Ulaga gave his countrymen country-men in Panica a thrill by capturing first place ahead of Bulau and Austria's Richard Rich-ard Schallert. For the United States, Reed Zuehlke finished 14th and Mike Holland Holl-and was 23rd. In the final overall World Cup standings, Jeff Hastings tied for llth and Mike Holland Holl-and wound up in 15th place. These results mark the end of the 1983 season in World Cup alpine and nordic skiing, an exceptional one for the United States. Wins by Phil Mahre and Tamara McKin-ney McKin-ney mark only the third time in World Cup history that skiers from the same country have won the men's and women's overall alpine titles the same year. In addition, Kerry Lynch claimed the unofficial nordic combined overall championship champion-ship and Bill Johnson will end his season as the Europa Cup overall men's champion. Post-season basketball School pride restored by Miner victory In an unscheduled postseason post-season game last Friday, the Park City High School basketball team recorded its third win by an impressive HQ r3 D I I jo) the ne it to mby's ... only dssZin&ti&M Mcoptew oTi wesovt i the USA Full day of heli skiing in the Spectacularly Rugged Ruby Mountains Small Personalized Groups (4 skiers per guide) 300 miles from a chair lift 5 star accommodations at the Red Lion Casino Hotel Breakfast, lunch and all local transportation All for the reduced price of $250 per day Ski industry members call for special prices It's the hest Jkept secret in the USA and the ultimate slciing safari. mm 40-3 score over South Summit. Sum-mit. South Summit has challenged the win, however. how-ever. Due to a scheduling mixup, they contend, Park City did not face the basketball basket-ball squad but instead played against the school's traveling company of "Sound of Music." In any event, Park City Coach Bruce Reid quickly took advantage of the fact that the opposing guard line was composed of small children and nuns. The Park City team scored dunk after dunk against the underfed thespian squad. South Summit tried to keep up the spirits of those on the floor with a chorus of "Climb Every Mountain." But they were no match for the clever psychological campaign waged by Reid. The Miners stuffed the foam from Hostess Twinkies in the corners cor-ners of their mouths and ran out onto the court yelling, "EAT 'EM UP, EAT 'EM UP. KILL. KILL." This offensive tactic by Park City usually led to the opposing team members throwing up their hands and running away. South Summit's forward line, made up of the Trapp Family Singers, did daunt the Park City Miners for a while. "One of our players kept telling me, 'Geez, coach, the littlest one looks like my kid brother,'" said Reid. "Finally, I told the kids, 'Screw that. Sit on 'em.'" There were a few fouls in the game. One came when a Park City player pushed a nun into South Summit's orchestra or-chestra section, injuring three violin players. The score was evened' when South Summit's Maria Von Trapp was fined for kneeing and improper use of the guitar. South Summit rallied toward the end of the game by sending out the Nazis with their second string. As the fans cheered, "Doe! A deer! A female deer!", a South Summit Gestapo agent blitz-krieged blitz-krieged through Park City's defense to score the only basket for South Summit. A free throw from the Mother Superior provided the team's only other point. Park City is expected to have a tougher time next week against Wasatch High's production of "West Side Story." "Those people are animals," complained Coach Reid. "They're allowed to carry chains and knives!" Soccer begins The Park City High Rollers will kick off their spring season Saturday at 3:30 p.m. with a game against Alemannia at Salt Lake City's Riverside Park. The High Rollers represent Park City in the Major Division of the Utah Soccer Association. Team spokesman Mike Walker indicated Tuesday that Park City would not have enough players to field a Reserve Division team because of conflicting schedules and interests. in-terests. "There are quite a few people who are still skiing," Walker pointed out. "We probably will not have two teams this spring half (of the schedule.)" Riverside Park is located at 600 North, 1600 West. Meanwhile, Park City's women's team, the Silver Kicks, will have to wait another week before beginning their spring season. A game against the University of Utah originally planned for this weekend has been cancelled can-celled because of a schedule conflict, according to spokeswoman Anne Bowman. Country Pine Antiques & Decorative Accessories. iv u- Atiltijin ltn i h.ur Sl Smilli Vili Rust. S.il( LikrCily. Utah S4HIJ(S0I).US-4SSS |