Terms Used In Delaware Code > Title 7 > Chapter 74 > Subchapter II - Small Retail Gasoline Station Assistance Program

• Appraisal: A determination of property value.
• Borrower: means a person obtaining or desiring to obtain a mortgage loan. See Delaware Code Title 5 Sec. 2101
• Commissioner: means the State Bank Commissioner. See Delaware Code Title 5 Sec. 2101
• Contract: A legal written agreement that becomes binding when signed.
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Department: means the Department of Natural Resources and Environmental Control. See Delaware Code Title 7 Sec. 7402
• Fraud: Intentional deception resulting in injury to another.
• Fund: means the Delaware Underground Petroleum Storage Tank Response Fund. See Delaware Code Title 7 Sec. 7402
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgage loan: means an extension of credit secured by a first or secondary mortgage on any 1-to-4 family residential owner-occupied property intended for personal, family or household purposes, which is:

  a. See Delaware Code Title 5 Sec. 2101

• Mortgage loan broker: means a person who (i) in the ordinary course of business, for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly, negotiates or offers to negotiate, or arranges or solicits, or offers to arrange or solicit, a mortgage loan on behalf of a borrower, or (ii) holds himself out as being able to serve as an agent for any person in an attempt to obtain a mortgage loan; or (iii) holds himself or herself out as being able to serve as an agent or independent contractor to negotiate the terms or conditions of a mortgage loan on behalf of a lender (but who is not a person employed as an employee or agent of the lender). See Delaware Code Title 5 Sec. 2101
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Person: means an individual, corporation, partnership or any other group of individuals however organized. See Delaware Code Title 5 Sec. 2101
• Removal: means the process of removing and disposing of an underground storage tank system, through the use of prescribed techniques for the purging of residues and vapors and removal of the vessel from the ground. See Delaware Code Title 7 Sec. 7402
• Secretary: means the Secretary of the Department of Natural Resources and Environmental Control or a duly authorized designee. See Delaware Code Title 7 Sec. 7402
• State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
• State: means the State of Delaware. See Delaware Code Title 7 Sec. 7402
• Statute: A law passed by a legislature.
• Underground storage tank: means a containment vessel, including underground pipes connected thereto, which is used to contain an accumulation of regulated substances, and the volume of which, including the volume of the underground pipes connected thereto, is 10 per centum or more beneath the surface of the ground. See Delaware Code Title 7 Sec. 7402
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302