Class "C"
Residences that extend few luxuries but are alternatively in physically sufficient form and give advantageous space to renters who aren't really image-observing
Certificate of occupancy
A certificate introduced by a local government group or building department authorizing that a structure and/or the leased area has been sufficiently scrutinized and is in a condition suitable for living
First mortgage
The leading mortgage that, by reason of its seat, has preference over all junior cares. The holder has a priority right to compensation in the event of default.
Escrow agreement
A written arrangement made between an escrow agent and the parties to a contract setting forth the bottom line obligations of the parties, describing the money, or other things of value, to be deposited in escrow, and instructing the escrow agent concerning the placement of the monies deposited
Full-service rent
An all-inclusive rental cost that encompasses operating payments and real estate taxes for the first year. The leasor is frequently still responsible for any increase in operating expenses over the primary year amount