Short-Term Investment Pool (STIP): STIP was established in fiscal 1976 and is an interest-only cash investment pool in which all University fund groups participate, including current funds earmarked to meet payrolls, operating expenses, and construction at all campuses and teaching hospitals of the University.
Standard Rate : The most recently available average rate of return earned by the Short-Term Investment Pool (STIP) for the four quarters preceding the funding of the mortgage loan, plus an administrative fee component. Subordination Agreement: An agreement by the holder of an encumbrance against real property to permit that claim to take an inferior position to other encumbrances against the property.
The University may, as its option, refuse to sign a Subordination Agreement. Tenants in Common: Joint ownership by two or more persons giving each tenant an interest and rights in a property, these interests need not be equal in quantity or duration.
Title: The evidence of the right to or ownership in property.
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