Hampton Roads Radio Station,

DEED
A written instrument by which a property owner "grantor" transfers to a "grantee" an ownership in real property.

DISCOUNT POINTS
An added loan fee charged by a lender to make the yield on a lower-than-market interest VA or FHA loan competitive with higher interest conventional loans.

TRADE FIXTURES
Articles of personal property annexed to leased premises by the tenant, as a necessary part of the tenant's trade or business.

ESCROW
The process by which money and/or documents are held by a disinterested third person (a "stakeholder") until the satisfaction of the terms and conditions of the escrow instructions (as prepared by the parties to the escrow).

LIQUIDATED DAMAGES
An amount predetermined by the parties to an agreement as the total amount of compensation an injured party should receive in the event the other party breaches a specified part of the contract.

ANNUAL PERCENTAGE RATE (APR)
The cost of credit expressed as a yearly rate. The annual percentage rate is often not the same as the interest rate. It is a percentage that results from an equation considering the amount financed, the finance charges, and the term of the loan.

BARGAIN AND SALE DEED
A deed which recites a consideration and conveys all of the grantor's interest in the property to the grantee.

BUILDING RESIDUAL TECHNIQUE
A method of determining the value of an improvement normally used in appraising income property.

CUSTOMER TRUST FUND (CTF)
An impound account maintained for the purpose of setting up a reserve to pay certain periodic obligations such as real property taxes, insurance premiums, lease rent, and maintenance fees.

INSTITUTIONAL LENDER
Financial institutions such as banks, insurance companies, savings and loans or any lending institution whose loans are regulated by law.

CHAIN OF TITLE
The chronological order of conveyance of a property from the original owner to the present owner.

HABITABLE
Being fit to live in. The residential landlord has an obligation to keep the leased premises in a habitable condition.

RETALIATORY EVICTION
An act whereby a landlord evicts the tenant in response to some complaint made by the tenant.

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