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| Letter of atornment
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Letter outlining a tenant's formal agreement to be a tenant of a new landlord. |
| Letter of commitment
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Official notification to a borrower of the lender's intent to grant a loan, it also specifies the terms of the loan and sets a date for the closing. |
| Letter of credit
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An arrangement, with specified conditions, where a bank agrees to substitute its credit for a customer's. |
| Letter of intent
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A written statement, expressing a desire to enter into a contract, without actually doing so. |
| Lettering guide
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Mechanical drawing implement with holes or slots used as a guide for lettering or for drawing parallel lines. |
| Levee
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An embankment built alongside a river to prevent high water from flooding the surrounding land. |
| Level
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(1) A leveling device, containing a glass tube, which is partly filled with liquid that leaves an air bubble in the exact center of the tube when the instrument is on an even horizontal plane. (2) Something relatively flat and even. (3) Conforming to the plane of the horizon, not sloping. |
| Level loop
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A carpet style - woven or tufted - with a same height loop surface. |
| Level payment income stream
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An Annuity. A series of equal or nearly equal periodic payments or receipts. |
| Level payment mortgage
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Mortgage where each payment made by the borrower is equal, each period, with every payment comprised of principal and interest. |
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