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PLANNED UNIT DEVELOPMENT (PUD) A modern concept in housing designed to produce a high density of dwellings and maximum utilization of open spaces. HAZARD INSURANCE Protects the insured against loss due to fire or other natural disaster in exchange for a premium paid to the insurer. LEVEL PAYMENT MORTGAGE A mortgage which is scheduled to be repaid in equal periodic payments which include both principal and interest. LEASEHOLD A less-than-freehold estate which a tenant possesses in real property. RETALIATORY EVICTION An act whereby a landlord evicts the tenant in response to some complaint made by the tenant. |
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