Sheet metal or similar material, used at different points in a structure to prevent water seepage, such as around vent pipes, chimneys, etc.

A building containing a single living unit on each floor, and sometimes referred to by the number of units, such as two flat, four flat. Flats are no longer built, having given way to duplexes, fourplexes, etc.

The direct cost of labor and materials used in construction of a project.

See: Straight Lease.

A roof having an almost level surface, except for either being slightly convex, to allow drainage towards it edges, or slightly concave, allowing water to drain at the center of the roof.

A conduit that can flex (bend) to reach from another line (gas, electric, etc.) to the point of intended use.

See: Variable Interest Rate.

See: Pledged Account Loan.

See: Adjustable Mortgage Loans.

The path (pattern of lights) used by airplanes for approaching and departing from an airport.

Flexible Loan Insurance Plan. See: Pledged Account Loan.

A beam formed by two or more timbers, cut lengthwise, called flitches, between any two of which is placed a metal plate for additional strength, and all pieces are bolted together.

Funds in collection. The amount of a check in the possession of one bank but drawn on another is the float.

See: Variable Interest Rate.

A concrete slab foundation where the slab and supporting beams are poured separately. See: Monolithic Slab.

An overflowing of a body of water from its normal boundaries, so that land usually dry is covered with water. May be a regular occurrence (sometimes even desirable for farming) or a disaster, if severe.

The determination by the Federal Emergency Management Agency (FEMA) whether flood insurance is required and the degree of risk. Flood zones are rated as to risk and the cost of flood insurance varies accordingly.

Insurance indemnifying against loss by flood damage. Required by lenders (usually banks) in areas designated (federally) as potential flood areas. The insurance is private but federally subsidized.

The extent of the land adjoining a river, which, because of its level topography, would flood if the river overflowed its banks.

(1) The inside bottom or lowest horizontal surface of a room, on which one walks or stands. (2) The different levels (stories) in a building, such as main floor, second floor, etc.

A term commonly used to indicate the allowable square footage of a building according to zoning requirements. The ratio is between the total floor area of the building and the lot or plot on which it is built. Example: a 50,000 square foot lot may have a maximum of 100,000 square feet of floor area. A ten story building, each story having 10,000 square feet of floor space, would be allowed. The floor area ratio would be two to one, expressed simply as 2.