Glossary of Terms

G

GENERAL PARTNERSHIP
In a partnership, a partner whose liability is not limited. All partners in an ordinary partnership are general partners. A limited partnership must have at least one general partner.

GOOD FAITH DEPOSIT
A deposit made by a purchaser of real estate to evidence an honest intent of executing a purchase or lease agreement.

GOVERNMENT-SUBSIDIZED
Rents that are partly paid by the government (e.g. Section 8 residential subsidies).

GRADE LEVEL DOOR
A door at the ground level of the foundation.

GROUND LEVEL
Existence and/or number of ground level doors.

H

HIGH-RISE OFFICE
A commonly-used expression referring to an office building that is high enough to require an elevator. Typically greater than 3 stories.

I

INDEX
An economic indicator, which is usually a published interest rate.

INDUSTRIAL
Property used for industrial purposes, such as factories.

INDUSTRIAL FOR LEASE
Industrial space available.

INTEREST
The sum paid for borrowing money, which pays the lender�s costs of doing business.

INTEREST RATE
The sum charged for borrowing money, expressed as a percentage

INTEREST RATE CAP
Limits the interest rate or the interest rate adjustment to a specified maximum. This protects the borrower from increasing interest rates.