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LEVERAGE The use of borrowed funds to purchase investment property with the anticipation that the property acquired will increase in return so that the investor will realize a profit not only on his own investment, but also on the borrowed funds; the employment of a smaller investment to generate a larger rate of return through borrowing. LITTORAL LAND Land bordering on the shore of a sea or ocean and thus affected by the tide currents. WAIVER To voluntarily give up or surrender a right. ACCELERATION CLAUSE A common provision of a mortgage or note providing the holder with the right to demand that the entire outstanding balance is immediately due and usually payable in the event of default. BROKER An individual who brings buyers and sellers together and assists in negotiating contracts for a client. NONDISTURBANCE CLAUSE A clause inserted in a mortgage whereby the mortgagee agrees not to terminate the tenancies of lessees who pay their rent if the mortgagee forecloses on the mortgagor-lessor's building. CONDEMNATION Either a judicial or administrative proceeding to exercise the power of eminent domain, i.e., the power of the government to take private property for public use. |
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