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RUNNING WITH THE LAND
Rights or covenants which bind or benefit successive owners of a property are said to run with the land, such as restrictive building covenants in a recorded deed which would affect all future owners of the property.

SIMPLE INTEREST
Interest computed on the principal balance only.

SWEAT EQUITY
Value added to a property in the form of labor or services of the owner rather than cash.

ACCRUED
That which has accumulated over a period of time such as accrued depreciation, accrued interest or accrued expenses.

YIELD
The return on an investment or the amount of profit, stated as a percentage of the amount invested.

LINE OF CREDIT
A maximum amount of money a bank will lend one of its more reliable and credit worthy customers without need for any formal loan submission.

SECURITY AGREEMENT
A security document which creates a lien upon chattels, including chattels intended to be affixed to land as fixtures; known as a chattel mortgage prior to the adoption of the Uniform Commercial Code.

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