What happens when a commercial loan is called?

[Sue T.]

Hi,
I noticed that many commercial loans have a 5 or 10 year call; what happens when the loan is called? Do you just renegotiate a new rate for the loan with the current bank or do you have to go through entire process of appraisal, etc to get a new loan? What are the chances that the current bank will decide not to "continue" the loan?
Given the refinance risk, would it be better or less risky to go with fully amortized, but adjustable rate mortgage (with rate cap) rather than a fixed rate mortgage with a call?

Thanks.