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OFFSITE COSTS Costs such as for sewers, streets, utilities, etc., which are incurred in the development of raw land, but are not connected with the actual construction of the buildings(onsite costs). RANGE A measurement, used in the government survey system, consisting of a strip of land six miles wide, running in a north-south direction. PARTICIPATION MORTGAGE A mortgage in which the lender participates in the income of the mortgaged venture beyond a fixed return, or receives a yield on the loan in addition to the straight interest rate. RIGHT-OF-WAY The right or privilege, acquired through accepted usage or by contract, to pass over a designated portion of the property of another. BILL OF SALE A written agreement by which one person sells, assigns or transfers his right to, or interest in, personal property to another. QUANTITY SURVEY A method of estimating construction cost or reproduction cost; a highly technical process used in arriving at the cost estimate of new construction and sometimes referred to in the building trade as the price take-off method. |
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