Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL
J |
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L |
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LeaseAn agreement in which the owner of a fee interest transfers to a lessee
the right of exclusive possession and use of an area of land or water for a
fixed period, which may be renewable. The lessor cannot readily revoke
the lease at his or her discretion. The lessee pays rent periodically or
as a single payment. The lessor must be able to regain possession of the
lessee's interest (leasehold interest) at the end of the lease term. An
agreement that does not correspond to this definition is not a lease even if it
is labeled as one. | |
Lease/LeaseholderA contract in which the fee owner transfers to a lessee the right of exclusive possession and use of an area of land or water for a fixed period, which may be renewable. The agreement (lease) cannot be readily revoked at the lessor’s discretion. Lessor must be able to regain possession of the interest at the end of the lease term (temporary ownership). | |
Life EstateAn estate in real property limited to the remaining lifetime of a designated individual(s). The life estate ends at the death of the original holder of the life estate even if that individual transferred some or all of the rights in the life estate to another entity. | |
M |
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MaintenanceKeeping structures or equipment in a condition to serve the intended purpose. It includes cyclical or occasional actions to keep a facility fully functional during its useful life. It does not include operational actions (see B(13)) such as janitorial work. Examples of maintenance actions are: (1) Routine upkeep for bullet traps; (2) Replacing components of a facility, such as a roof, benches, or backstop that are expected to need replacing over the course of the useful life of the facility; and (3) Painting, adding gravel to a parking lot, adding road mix/sand to existing firing range surfaces, and replacing rotting boards | |
Mandatory ProgramA program with an authorizing statute requiring the government to make
an award to each eligible entity under the conditions and in the amount (or
based on the formula) specified in the statute. Under mandatory programs, no
competition for funds among eligible entities is required. | |
Marine Federal WatersThe area between the state waters boundary and the international waters boundary. | |
MatchThe value of any non-Federal in-kind contributions and the portion of
the costs of a grant-funded project or projects not borne by the Federal
government. | |
Memorandum of Understanding (MOU)A written agreement between two or more parties in a formal document. | |
Metes and BoundsSurvey system using landmarks and distances to define property boundaries. Starts at well marked point and follows boundaries of land and returns to the point of beginning. | |