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a ~~â€" m u.c y mt im n m Wl‘ C T Tt O Estate Glossary Oakville Beaver Weekend, Sunday, June 19, 1994 â€" 10 The process of determining the value of the property, usually for lending purposes. This value may or may not match the price of the home. BUILDING PERMIT A certificate that must be obtained from the municipality by the property owner of contractor before a building can be erected or renovated. CERTIFICATE OF SEARCH A document verifying the transactions registered against the property â€" e.g. sales, mortgages, etc. DEBTâ€"SERVICE RATIO The percentage of the borrower‘s gross income that will be used for monthly payments of principal, interest, taxes, space heating costs and condominium fees. EQUITY The interest of the owner in a property over and above all claims to the property. It is usually the difference between the mortgage(s) and the market value of the property. HOLDBACK An amount of money withheld by the lender during the progress of construction of a house to ensure that construction is satisfactory at every stage. The amount of holdback is generally equivalent to the estimated cost to complete construction. INSPECTION The examination of the house by an expert selected by the buyer. MORTGAGE INSURANCE PREMIUM A premium which is added to the mortgage and paid by the borrower â€" ADVERTISEMENT â€" mortgage insurance insures the lender against loss in case of default on the part of the borrower. MORTGAGE LIFE INSURANCE A form of reducing term insurance recommended for all mortgagors. In the event of the death of the owner or one of the owners, the insurance pays the balance owing on the mortgage. The intent is to protect survivors from losing their home. OPTION AGREEMENT A document stipulating that, in exchange for a deposit, a specified individual is to be given first chance of buying a property within a specified period of time. If the optionâ€"holder does not buy within a specified period of time, he loses his deposit. PENALTY A sum of money paid to a lender for the privilege of prepaying a mortgage in part or in full. PREPAYMENT OPTION The right to prepay specified amounts or the principal balance. Penalty interest may be incurred on prepayment options. Real Estate The Bottom Line Dan Cooper is an awardâ€"winning Associate Broker with Countrywide Town Centre Realty Inc. and can be reached at 338â€"6550. LEVOLOR SALE! Custom Blinds Riviera 1" Mini Blinds SAVE 56%92.! Saturday mornings this summer will feature light entertainment in the Towne Square, downtown Oakville. Any comâ€" munity group which can provide light, fun entertainment for the general public, welcome. Displays and demonstrations as well as music. Information: 844â€"4520. Oakville Parent Child Centre offers summer programs like Cabin Fever Drop In an Sunshine Funtime plus Me and Mom. Call 849â€"6366. If you enjoy knitting, sewing or makâ€" ing crafts, you are invited to join a group of ‘crafty‘ ladies Wednesday afternoons, 1 to 3 p.m., Oakville Senior Citizens Rec Centre, 263 kerr St. Volunteers busy makâ€" ing items for the upcoming Autumn Harvest Bazaar. Strawberry saeason begins around June 20th. Strawberries are available right out of patch on these Halton farms: Andrews Scenic Acres, 878â€"5807; Charles Creig Farm, 877â€"7484; Hutchinson Farm Market, 335â€"2515; Rae‘s Pick Your Own, 878â€"9883; Scott Farms, 875â€"4844; Springridge Farm, 878â€" 4908. Call for directions and picking conâ€" festival Midnight Madness, (July 22nd) is looking for community entertainers such as dance troupes, clowns, magicians and other forms of entertainment, except bands. Call Oakville BIA 844â€"4520. Lung Association, Halton Region offers Day Camp for children with asthâ€" ma, 6 to 13. Siblings welcome to attend. Asthma education, swimming lessons, day trips, crafts, family BBQ‘s etc. In Oakville July 18th to August 5th. Information/registration, 847â€"1033. Summer School for Adults through the Halton Board of Education, the Adult and Continuing Education Department offers free English as a Second Language courses. Improve readâ€" ing, writing, speaking and listening skills during the day. Childminding is available. Classes in Oakville, Burlington, Milton. Information/registration: Carol, 632â€" 6490. Classes begin July 4th. Plans underway to offer dropâ€"in prgram for recently separated and divorced women beginning June 16th, 7 p.m., Women‘s Information and Support Centre of Halton, Hopedale Bonnie Brown, M.P. and the Halton Multicultural Council invite Interested Citizens of the Riding of Oakvilleâ€"Milton to attend a Community Forum on Federal Immigration Policy Saturday June 25, 1994 ; 10:00 amâ€"1:00 pm at the Oakville Public Library Auditorium 120 Navy St., Oakville To register as a witness please call 827â€"2077 y i (Ooninied from page 9) ditions. Mall, Suite 230. To be held first and third APPRAISAL over the life of the mortgage. The | g77.1437, Downtown Oakville‘s summer street _ Thursday of every month. Information: 847â€"5520. Sixth annual Canadian Mental Health Association Golf Classic, June 29th, Carlisle Golf and Country Club. Noon. Registration: Leslie Waychison, 845â€"5044. $90 for golf and dinner; $45 dimner only. Are you responsible for recruiting, training and placing volunteers for your agency? Halton Association of Coordinators of Volunteer Services is a nonâ€"profit professional membership orgaâ€" nization of individuals involved in coordiâ€" nation/administration of volunteer proâ€" grams. Provides educational opportunities through workshops and breakfast meetâ€" ings. Workshop planned for June 16th on Understanding Selfâ€"Esteem with Lorena Kelly. Free to members. Information: Christine Berry, 81 5â€"2046. Vacation Bible School, July 18th to 22nd, Central Baptist Church, 340 Rebecca St.9 a.m. to noon for ages 3 to 10. Crafts, games, music, snacks, skits and Bible stories. Information/registraâ€" tion, 842â€"8925. Halton LINC, communityâ€"based, fedâ€" erally funded English language training program offers free English classes. Day and/or evening. Childminding available at some locations. Call 875â€"3851 or §42â€" 2486. Arthritis Society needs help to recruit canvassers over the phone for September fundâ€"raising campaign. Volunteers needâ€" ed: Ward chairperson, team captain for residential canvassers, residential canâ€" vasser, telephone recruiter for residential canvassers. Information: Janie, 897â€"2995. 4 Bedrooms on one level, 2 fireâ€" places, 3 baths, country kitchen, backs onto lush running stream, walkout basement. A must to see. Ask for HELEN BLACKMORE 338â€"9000 0 o 0 o o o o o o o o o o o o o o e o o o o o o IMPOSSIBLE PRICES ! IMPOSSIBLE PR=IGE§ Levolor Vertical Blinds Children‘s Computer Reg to 34" Plus Buy 3 2 for 1 Plus Free Valances ! SALE 13â€" Get the 4th FREE! IMPOSSIBLE PRICES! IMPOSSIBLE PRICES ! BLINDS MORE FOR LESS 410 SPEERS RD., Oakville, 338â€"2603 Mon.Wed. 10:00â€"5:30 Thur.â€"Fri. 10:00â€"9:00 Sat. 9:00â€"5:00 Sun.12:00â€"5:00 "ONTARIO‘S LARGEST VOLUME DISCOUNT BLIND OUTLET® "HELD OVER" â€" SALE ENDS JUNE 26th Summer Camps YOUR CHILD CAN MASTER COMPUTERS, At FUTUREKIDS, leaming computers is an adventure in fun that could guarantee your child‘s future success. Our blend of hands / on teaching and high technology helps / boys and girls from 6 to 13 years old / master computers and learn to love / learning. /////// Storybook Maker Camp Camp. Back by popular demand, last year‘s Robotic Camp and our very lastest innovative "Computer Sports Camp" _ where kids will use software to compete I in Olympic games, formulate stats on \\ | spreadsheets, publish sports news and SCAN their favourite cards!! Call today, COMPUTER LEARNING CENTERS .BA7T7â€"RKIDS (sa7â€"s437) â€" |5 (Between Dorval Dr 4th Line) Summer Camps include the ALL NEW and Mystery you could be giving your child the most EXCITING summer of their lives!! Robert‘s Fish Cove is very proud to announce C3 the appointment of Trevor Wilson as Chef De:â€" Cuisine of R.F.C. Trevor has been working in the Restaurant Industry for the past 6 years. He has recently finished his studies at George Brown College. Allan Brown, C.C.C. and Coâ€"ordinator at the § College praised Trevor‘s achievements by saying that "he displayed an extremely professional work ethic and attitude" and mm% FAP EJAE "he will continue to develop Fine Cuisine in Oakville". Trevor will develop a new Menu which will focus on Value, Flavour, Ingenuity, Innovation, Taste and Tradition. \, Bravo and congratulations Trevor Wilson! 379 Speers Rd. (West of Dorval) Oakville, Ont. L6K 3T2 (905) 842â€"4550