Oakar Amendment

An amendment to section 5(d) of the FDI Act of 1950 named for its sponsor, Congresswoman Mary Rose Oakar. The amendment allowed an institution to avoid the prohibition against conversion of insured deposits between insurance funds, with approval of the appropriate federal regulatory authority. The Oakar amendment authorized any state depository institution to merge, consolidate, or transfer the assets and liabilities of an acquired institution while maintaining existing fund coverage of the acquired deposits. (Federal Deposit Insurance Corporation)

oakum

Loosely woven hemp rope that has been treated with oil or other waterproofing agent; it is used to caulk joints in a bell and spigot pipe and fittings. (US Dept of the Interior- Bureau of Reclamation)

objection to dischargeability

A trustee's or creditor's objection to the debtor being released from personal liability for certain dischargeable debts. Common reasons include allegations that the debt to be discharged was incurred by false pretenses or that debt arose because of the debtor's fraud while acting as a fiduciary. (US Courts (Federal Courts)- Bankruptcy Basics)

objection to exemptions

A trustee's or creditor's objection to the debtor's attempt to claim certain property as exempt from liquidation by the trustee to creditors. (US Courts (Federal Courts)- Bankruptcy Basics)

objectives

Specific, measurable statements related to the attainment of goals. (US Dept of Transportation- Federal Highway Administration)

obligate hydrophytes�

(aka OBL) Species that are found only in wetlands -- e.g., cattail (Typha latifolia) as opposed to ubiquitous species that grow either in wetland or on upland -- e.g., red maple (Acer rubrum). (US Fish & Wildlife Service)

obligate riparian species

A species that depends completely upon habitat along a body of water. (US Dept of the Interior- Bureau of Reclamation)

obligation

The Federal government's legal commitment (promise) to pay or reimburse the States or other entities for the Federal share of a project's eligible costs. (US Dept of Transportation- Federal Highway Administration)

obligation limitation

A restriction, or "ceiling" on the amount of Federal assistance that may be promised (obligated) during a specified time period. This is a statuatory budgetary control that does not affect the apportionment or allocation of funds. Rather, it controls the rate at which these funds may be used. (US Dept of Transportation- Federal Highway Administration)

observation well

A hole used to observe the ground-water surface at atmospheric pressure within soil or rock. (US Dept of the Interior- Bureau of Reclamation)

obsolescence

The process of an assets value diminishing due to the development of more desirable alternatives or because of the degradation of its capabilities. (HardwickAssociates)

occupancy

A physical presence within and control of a property. (HardwickAssociates) The number of persons, including driver and passenger(s) in a vehicle. Nationwide Personal Transportation Survey (NPTS) occupancy rates are generally calculated as person miles divided by vehicle miles. (FHWA3) (US Dept of Transportation- Federal Highway Administration)

occupancy rate

The percentage of properties in a given area that are occupied. (HardwickAssociates)

occupancy sensor

An optical, ultrasonic, or infrared sensor that turns room lights on when they detect a person's presence and off after the space is vacated. (US Dept of Energy)

occupancy status

An indicator that denotes how the borrower used the mortgaged property at the origination date of the mortgage (principal residence, second home or investment property). (Also known as Occupancy Type.) (Fannie Mae)

occupancy type

The type of activity occurring within a building. (Energycodes.gov)

occupant

Any person who is in or upon a motor vehicle in transport. Includes the driver, passengers, and persons riding on the exterior of a motor vehicle (e.g., a skateboard rider who is set in motion by holding onto a vehicle). (NHTSA3) (US Dept of Transportation- Federal Highway Administration)

occupant (highway)

Any person in or on a motor vehicle in transport. Includes the driver, passengers, and persons riding on the exterior of a motor vehicle (e.g., a skateboard rider holding onto a moving vehicle). Excludes occupants of parked cars unless they are double parked or motionless on the roadway. (US Dept of Transportation- Federal Highway Administration)

occupant sensing device

A device that detects the presence or absence of people within an area and causes any combination of lighting, equipment, or appliances to be adjusted accordingly (Energycodes.gov)

occupant sensor

A device that detects the presence or absence of people within an area and causes lighting, equipment, or appliances to be regulated accordingly. (Energycodes.gov)

Occupational Safety and Health Act of 1970

The Williams-Steiger Occupational Safety and Health Act of 1970 (OSHA) is a law designed to protect the health and safety of industrial workers and also the operators of water supply systems and treatment plants. OSHA also refers to the federal and state agencies which administer the OSHA regulations. (US Dept of the Interior- Bureau of Reclamation)

occupied space

The space within a building or structure that is normally occupied by people, and that may be conditioned (heated, cooled and/or ventilated). (US Dept of Energy)

ocean energy systems

Energy conversion technologies that harness the energy in tides, waves, and thermal gradients in the oceans. (US Dept of Energy)

ocean thermal energy conversion

(aka OTEC) The process or technologies for producing energy by harnessing the temperature differences (thermal gradients) between ocean surface waters and that of ocean depths. Warm surface water is pumped through an evaporator containing a working fluid in a closed Rankine-cycle system. The vaporized fluid drives a turbine/generator. Cold water from deep below the surface is used to condense the working fluid. Open-Cycle OTEC technologies use ocean water itself as the working fluid. Closed-Cycle OTEC systems circulate a working fluid in a closed loop. A working 10 kilowatt, closed-cycle prototype was developed by the Pacific International Center for High Technology Research in Hawaii with U.s. 44: Department of Energy funding, but was not commercialized. (US Dept of Energy)

octopus receptacle

An outlet with too many devices plugged into it, using a power strip or other device to multiply the outlets. (HardwickAssociates)

odor threshold

The lowest concentration of a substance in air that can be smelled. Odor thresholds are highly variable because of the differing ability of individuals to detect odors. (US EPA- Pesticides)

offer

A formal bid from the homebuyer to the home seller to purchase a home. (Freddie Mac) A formal bid from the home buyer to the home seller to purchase a home. (Federal Trade Commission) Indication by a potential buyer of a willingness to purchase a home at a specific price; generally put forth in writing. (US Dept of HUD)

off-gassing

The production of gases from the chemical deterioration of a substance over time, and the release of gases from materials into the air. (US Environmental Protection Agency)

Office of Inspector General

(aka OIG) An independent federal organization established to audit the programs and operations of the FDIC and to investigate complaints of fraud, waste, and mismanagement in those programs. The Inspector General Act of 1978, as amended, required the chairman to appoint an inspector general beginning in 1989, the position changing to a presidential appointment in 1994. The RTC was required to have a presidentially-appointed inspector general throughout its life. (Federal Deposit Insurance Corporation)

Office of Pesticide Programs

(aka OPP) This EPA Office registers and regulates pesticides.� (US EPA- Pesticides)

Office of Policy Development and Research

(aka PD&R) HUD's Office of Policy Development and Research (PD&R) maintains current information on housing needs, market conditions, and existing programs, as well as conducts research on priority housing and community development issues. The office provides reliable and objective data and analysis to help inform policy decisions. In 1978, PD&R established HUD USER, an information resource for housing and community development researchers, government officials, academics, policymakers, and the American public. (US Dept of HUD)

Office of the Comptroller of the Currency

(aka OCC) An independent bureau of the Treasury Department and the oldest federal financial regulatory body. The OCC oversees the nation's federally chartered banks and through a system of bank supervision and regulation promotes safety and soundness by requiring that national banks adhere to sound management principles and comply with the law, and encourages banks to satisfy customer and community needs while remaining efficient competitors in the financial services market. (Federal Reserve Education) An independent bureau of the Treasury Department and the oldest federal financial regulatory body. The OCC oversees the nation�s federally chartered banks and promotes a system of bank supervision and regulation that: promotes safety and soundness by requiring that national banks adhere to sound management principles and comply with the law; and encourages banks to satisfy customer and community needs while remaining efficient competitors in the financial services market. (Federal Reserve Bank- SF) A bureau within the U.S. Department of the Treasury, established in 1863. The OCC charters, regulates, and supervises national banks, which can usually be identified because they have the word �national� or �national association� in their names. The OCC also supervises and regulates the federally licensed branches and agencies of foreign banks doing business in the United States. The comptroller of the currency, who is appointed by the president of the United States, with Senate confirmation, and who is one of the FDIC�s five directors, heads the OCC. (Federal Deposit Insurance Corporation)

Office of Thrift Supervision

(aka OTS) A bureau of the Treasury Department, established in August 1989, which has the authority to charter federal thrift institutions and serve as the primary regulator of approximately 2,000 federal and state-chartered thrifts. (Federal Reserve Education) A bureau of the Treasury Department established in August 1989. OTS has the authority to charter federal Thrift Institutions and serves as the primary regulator of approximately 2,000 federal and state chartered thrifts. (Federal Reserve Bank- SF) An organization within the U.S. Department of the Treasury, established on August 9, 1989, by FIRREA. The OTS, with five regional offices located in Jersey City, Atlanta, Chicago, Dallas, and San Francisco, is the primary regulator of all federal and many state chartered thrift institutions. A director, who is appointed by the president, with Senate confirmation, for a five-year term and who is one of the five FDIC directors, heads the OTS. (Federal Deposit Insurance Corporation) The office within the Department of Treasury that charters and regulates federal savings and loan associations, as well as controlling the system of Federal Home Loan Banks. Formerly called the Federal Home Loan Bank Board. (US Dept of Commerce- Census Bureau)

official check

A check drawn on a bank and signed by an authorized bank official. (Also known as a cashier's check.) (Help With My Bank)

off-peak

The period of low energy demand, as opposed to maximum, or peak, demand. (US Dept of Energy)

off-peak energy

Electric energy supplied during periods of relatively low system demand. (US Dept of the Interior- Bureau of Reclamation)

offset, right of

Banks' legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as right of setoff (Help With My Bank)

offshore reserves and production

��Unless otherwise dedicated, reserves and production that are in either state or Federal domains, located seaward of the coastline. (US Energy Information Administration)

off-site improvements

Buildings, structures or other amenities which are not located on a piece of property, but are necessary to maximize the use of the property or in some way contribute to the value of the property. (HardwickAssociates)

offstream uses

Water withdrawn from surface or ground water sources for use at another place. (US Dept of the Interior- Bureau of Reclamation)

off-street parking

Designated parking spaces associated with a particular building or other structure which are not located on public streets. (HardwickAssociates)

ogee crest

The shape of the concrete spillway crest that represents the lower profile of the undernappe of a jet of water flowing over a sharp-crested weir at a design depth. (US Dept of the Interior- Bureau of Reclamation)

ohm

The unit of electrical resistance to current flow. The resistance in a conductor in which one volt of potential difference produces a current of one ampere. (US Dept of the Interior- Bureau of Reclamation)

ohms

A measure of the electrical resistance of a material equal to the resistance of a circuit in which the potential difference of 1 volt produces a current of 1 ampere. (US Dept of Energy)

Ohm's Law

In a given electrical circuit, the amount of current in amperes (i) is equal to the pressure in volts (V) divided by the resistance, in ohms (R). (US Dept of Energy)

oil

Defined as oil of any kind or in any form including, but not limited to, petroleum, fuel oil, sludge, oil refuse, and oil mixed with wastes. (US Dept of the Interior- Bureau of Reclamation)

oil (fuel)

A product of crude oil that is used for space heating, diesel engines, and electrical generation. (US Dept of Energy)

oil spill contingency fund

A revolving fund for spill control efforts has been authorized in cases where the Federal government has taken over containment and cleanup operations. The fund is administered by the U.S. Coast Guard. Once the responsible party is determined, they are required to reimburse the fund for the oil removal costs. (US Dept of the Interior- Bureau of Reclamation)

oil well

��A well completed for the production of crude oil from at least one oil zone or reservoir. (US Energy Information Administration)

oilseeds

Soybeans, sunflower seed, canola, rapeseed, safflower, mustard seed, and flaxseed. (US Dept of Agriculture- Economic Research Service)

old termite activity

Where no termites are currently active, but indications of past activity can be seen. (HardwickAssociates)

olefinic hydrocarbons (olefins)

��Unsaturated hydrocarbon compounds with the general formula CnH2n containing at least one carbon-to-carbon double-bond. Olefins are produced at crude oil refineries and petrochemical plants and are not naturally occurring constituents of oil and natural gas. Sometimes referred to as alkenes or unsaturated hydrocarbons. Excludes aromatics. (US Energy Information Administration)

oligohaline�

Term to characterize water with salinity of 0.5 to 5.0ppt due to ocean-derived salts. (US Fish & Wildlife Service)

oligosaline�

Term to characterize water with salinity of 0.5 to 5.0ppt due to land-derived salts. (US Fish & Wildlife Service)

oligotrophic

Reservoirs and lakes which are nutrient poor and contain little aquatic plant or animal life. See mesotrophic. (US Dept of the Interior- Bureau of Reclamation)

olympic average

An average during a 5-year period, dropping the highest and lowest values. (US Dept of Agriculture- Economic Research Service)

omission errors��

For wetland mapping, omission errors are wetlands that are not identified on the map. Wetlands may be omitted due to several factors that preclude their identification or delineation including scale and emulsion of imagery, mapping scale or base map scale, quality of imagery, environmental conditions when imagery was captured, and difficulty of identifying particular types of wetlands. (US Fish & Wildlife Service)

omnivore

Animal that eats both vegetable and animal substances. (US Dept of the Interior- Bureau of Reclamation)

on-district storage

Small water storage facilities located within the boundaries of an irrigation entity, including reregulating reservoirs, holding ponds, or other new storage methods that allow for efficient water use. (US Dept of the Interior- Bureau of Reclamation)

one sun

The maximum value of natural solar insolation. (US Dept of Energy)

one-axis tracking

A system capable of rotating about one axis. (US Dept of Energy)

on-farm

Activities (especially growing crops and applying irrigation water) that occur within the legal boundaries of private property. (US Dept of the Interior- Bureau of Reclamation)

on-farm irrigation efficiency

The ratio of the volume of water used for consumptive use and leaching requirements in cropped areas to the volume of water delivered to a farm (applied water). (US Dept of the Interior- Bureau of Reclamation)

online banking

Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution�s web site on the Internet. Also known as Internet banking. (Federal Reserve Education) A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institution's web site on the Internet. (This is also known as Internet or electronic banking.) (Help With My Bank)

on-peak energy

Energy supplied during periods of relatively high system demands as specified by the supplier. (US Dept of Energy) Electric energy supplied during periods of relatively high system demand. (US Dept of the Interior- Bureau of Reclamation)

on-site generation

Generation of energy at the location where all or most of it will be used. (US Dept of Energy)

on-site improvements

Buildings, structures or other amenities that are erected on a piece of property and contribute to its value. (HardwickAssociates)

on-system sales

��Sales to customers where the delivery point is a point on, or directly interconnected with, a transportation, storage, and/or distribution system operated by the reporting company. (US Energy Information Administration)

opaque

All areas in the building envelope, except fenestration and building service openings such as vents and grilles. (Energycodes.gov)

opaque areas

Opaque areas include all areas of the building envelope except openings for windows, skylights, doors, and building service systems. For example, although solid wood and metal doors are opaque, they should not be included as part of the opaque wall area (also referred to as the net wall area). (Energycodes.gov)

open access

The ability to send or wheel electric power to a customer over a transmission and distribution system that is not owned by the power generator (seller). (US Dept of Energy)

open access same-time information system

(aka OASIS) An electronic information system that allows users to instantly receive data on the current operating status and transmission capacity of a transmission provider. FERC established standards for OASIS in Order 889. Examples of the type of information that might be available on a transmission system OASIS include: availability of transmission services; hourly transfer capacities between control areas; hourly amounts of firm and non-firm power scheduled at various points; current outage information; load flow data; current requests for transmission service; and secondary market information regarding capacity rights that customers wish to resell. (US Dept of the Interior- Bureau of Reclamation)

Open Bank Assistance

(aka OBA) A resolution method in which an insured bank in danger of failing receives assistance in the form of a direct loan, an assisted merger, or a purchase of assets. OBA usually entails a change in bank management and requires substantial dilution of shareholder interest in the troubled institution. Originally, as provided in the FDI Act of 1950, the FDIC could grant open bank assistance only if the institution�s continued operation was deemed �essential.� With the passage of the Garn�St Germain legislation in 1982, an institution could receive assistance if the cost of the assistance was less than the cost of liquidating the institution. When FDICIA was enacted in 1991, OBA had to be deemed least costly to the insurance fund of all possible resolution methods. A later amendment to FDICIA prohibited providing assistance to the shareholders of a troubled institution. The FDIC rescinded its OBA policy statement in 1996. (Federal Deposit Insurance Corporation)

open house

When the seller's real estate agent opens the seller's house to the public. You don't need a real estate agent to attend an open house. (Freddie Mac) When the seller�s real estate agent opens the seller�s house to the public. You don�t need a real estate agent to attend an open house. (Federal Trade Commission)

open joint

(See also butt joint) In pipe, flat ends that meet but do not overlap. (US Dept of the Interior- Bureau of Reclamation)

open market operations

Purchases and sales of government securities and certain other securities in the open market, through the Domestic Trading Desk at the Federal Reserve Bank of New York as directed by the Federal Open Market Committee (FOMC), to influence the volume of money and credit in the economy. Purchases inject reserves into the banking system and stimulate growth of money and credit; sales do the opposite. (Federal Reserve Education) Purchases and sales of government securities and certain other securities in the open market, through the Domestic Trading Desk at the Federal Reserve Bank of New York as directed by the Federal Open Market Committee (FOMC), to influence the volume of money and credit in the economy. Purchases inject reserves into the banking system and stimulate growth of money and credit; sales do the opposite. (Federal Reserve Bank- SF)

open space

Any land which has not had any significant buildings or structures erected on it. Most often used to describe desirable neighborhood features like parks. (HardwickAssociates)

open splice

An uncovered electrical connection. (HardwickAssociates)

open transmission access

Enables all participants in the wholesale market equal access to transmission service, as long as capacity is available, with the objective of creating a more competitive wholesale power market. The Energy Policy Act of 1992 gave the Federal Energy Regulatory Commission (FERC) authority to order utilities to provide transmission access to third parties in the wholesale electricity market. (US Dept of the Interior- Bureau of Reclamation)

open-circuit voltage

The maximum possible voltage across a photovoltaic cell; the voltage across the cell in sunlight when no current is flowing. (US Dept of Energy)

open-cut

A method of excavation in which the working area is kept open to the sky. Used to distinguish from cut-and-cover and underground work. (US Dept of the Interior- Bureau of Reclamation)

open-end credit

A line of credit that may be used repeatedly up to a certain limit, also called a charge account or revolving credit. (Federal Reserve Education) A line of credit that may be used repeatedly up to a certain limit. (Also called a charge account or revolving credit.) (Federal Reserve Bank- SF) Consumer credit extended by a creditor under a plan in which: (i) The creditor reasonably contemplates repeated transactions; (ii) The creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) The amount of credit that may be extended to the consumer during the term of the plan (up to any limit set by the creditor) is generally made available to the extent that any outstanding balance is repaid. (FDIC- TILA Act (Regulation Z)) A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) (Help With My Bank)

open-end lease

A lease that may involve a balloon payment based on the value of the property when it is returned. Also called finance lease. (Federal Reserve Education) A lease that may involve a balloon payment based on the value of the property when it is returned. (Also called finance lease.) (Federal Reserve Bank- SF)

open-end mortgage

A mortgage allowing the borrower to receive advances of principal from the lender during the life of the loan. See also: Closed-end Mortgage. (Ginnie Mae)

open-loop geothermal heat pump system

Open-loop (also known as "direct") systems circulate water drawn from a ground or surface water source. Once the heat has been transferred into or out of the water, the water is returned to a well or surface discharge (instead of being recirculated through the system). This option is practical where there is an adequate supply of relatively clean water, and all local codes and regulations regarding groundwater discharge are met. (US Dept of Energy)

open-work materials

Poorly-graded (uniform or gap-graded gradation) gravels, cobbles and boulders with few fines in the matrix, resulting in a deposit containing a large amount of interconnected void space through which seepage water (and soil particles) can easily move. (US Dept of the Interior- Bureau of Reclamation)

operating basis earthquake

(aka OBE) The earthquake that the structure must safely withstand with no damage. All systems and components necessary to the uninterrupted functioning of the project are designed to remain operable during the ground motions associated with the OBE. This includes the dam, appurtenant structures, electrical and mechanical equipment, relays, spillway gates, and valves. For most usage in Reclamation, the OBE is specified to have a 90% probability of nonoccurrence in a 25-year-exposure period. This is equivalent to a recurrence interval of 237 years. Economic considerations for specific projects may lead to consideration of other values. The earthquake(s) for which the structure is designed to resist and remain operational. It reflects the level of earthquake protection desired for operational or economic reasons and may be determined on a probabilistic basis considering the regional and local geology and seismology. (US Dept of the Interior- Bureau of Reclamation)

operating cycle

The processes that a work input/output system undergoes and in which the initial and final states are identical. (US Dept of Energy)

operating loan

Farm Service Agency (FSA) operating loans (OL) may be used to purchase livestock, farm equipment, feed, seed, fuel, farm chemicals, insurance, and other operating expenses. OLs can also be used to pay for minor improvements to buildings, costs associated with land and water development, and family living expenses, and to refinance debts under certain conditions. OLs are made under both direct and guaranteed programs, to producers who cannot obtain funding from conventional lenders. (US Dept of Agriculture- Economic Research Service)

operating log

See logbook. (US Dept of the Interior- Bureau of Reclamation)

operating reserve

Generation capacity dedicated to maintaining adequate and reliable system operation during sudden reduction in system capacity. (US Dept of the Interior- Bureau of Reclamation)

operating subsidiary

National banks conduct some of their banking activities through companies called operating subsidiaries. These subsidiaries are companies that are owned or controlled by a national bank and that, among other things, offer banking products and services such as loans, mortgages, and leases. The Office of the Comptroller of the Currency supervises and regulates the activities of many of these operating subsidiaries. (Help With My Bank)

Operation Clean Sweep

A catch phrase coined in the spring of 1990 by FDIC Chairman L. William Seidman in a speech to the National Press Club when he announced that the RTC would sell or liquidate 141 conservatorship institutions by June 30, 1990, including at least 50 institutions that would be liquidated without any sales attempts because these institutions were determined to have little franchise value. Chairman Seidman referred to these liquidations as �Operation Clean Sweep.� (Federal Deposit Insurance Corporation)

operational losses

Losses of water resulting from evaporation, seepage, and spills. (US Dept of the Interior- Bureau of Reclamation)

operational performance requirements

A written document that details the functional requirements of a project and the expectations of how it will be used and operated. This includes project and design goals, measurable performance criteria, budgets, schedules, success criteria, and supporting information. (Energycodes.gov)

operational waste

Water that is lost or otherwise discarded from an irrigation system after having been diverted into it as part of normal operations. (US Dept of the Interior- Bureau of Reclamation)

operations and maintenance costs

The ongoing, repetitive costs of operating and maintaining a water system. (US Dept of the Interior- Bureau of Reclamation)

optimum moisture content, or optimum water content

The one water content (percent of dry weight of the total material) of a given soil and a given compactive effort that will result in a maximum dry density of the soil. (US Dept of the Interior- Bureau of Reclamation)

optimum start controls

Controls that are designed to automatically adjust the start time of an HVAC system each day with the intention of bringing the space to desired occupied temperature levels immediately before scheduled occupancy. (Energycodes.gov)

option

The right to buy or sell a security or commodity at a specified price during a specified period. The holder of an option has the right, but not the obligation, to buy (call option) or sell (put option) a security or commodity at a specified price during a specified period. The writer of an option is obligated to sell (call option) or purchase (put option) the instrument only if the holder chooses to exercise the option. (Federal Reserve Bank- SF)

option value

Value associated with people who know they can visit an area in the future if they so desire. Also a reversible decision or an option to develop at some time in the future have option value. (US Dept of the Interior- Bureau of Reclamation)

optional flex acreage

Under the planting flexibility provision of the 1990 Farm Act, producers of specific crops could choose to plant up to 25 percent of their base acreage for a specific crop to other CCC-specified crops (except fruits and vegetables) without a reduction in their base acreage. Optional flex acreage is a term given to the 10 percent of a farmer's acreage base in 1991-95 beyond the 15-percent normal flex acreage that farmers could choose to plant to crops other than the base program crop. Optional flex acreage was eligible for deficiency payments when planted to the original program crop. However, no deficiency payments would be received on optional flex acreage if planted to another crop. The optional flex acreage planting provision was eliminated in the 1996 Farm Act. (US Dept of Agriculture- Economic Research Service)

ore

Rock or earth containing workable quantities of a mineral or minerals of commercial value. (US Dept of the Interior- Bureau of Reclamation)

organic

Any chemical containing the element carbon. Substances that come from animal or plant sources. See inorganic. (US Dept of the Interior- Bureau of Reclamation)

organic certification

Agricultural products grown and processed according to USDA's national organic standards and certified by a USDA-accredited State or private certification organization. Certifying agents review applications from farmers and processors for certification eligibility, and qualified inspectors conduct annual onsite inspections of organic operations. Certifying agents determine whether operators are in compliance with organic production standards. (US Dept of Agriculture- Economic Research Service)

organic compounds

Chemicals that contain carbon. Volatile organic compounds vaporize at room temperature and pressure. They are found in many indoor sources, including many common household products and building materials. (US Environmental Protection Agency)

organic matter

Plant and animal material in various stages of decomposition that may be part of the soil. (US Dept of Agriculture- Natural Resources Conservation Service) Any material that is part of or originated from living organisms. Includes soil organic matter, plant residue, mulch, compost, and other materials. (US Dept of Agriculture- Natural Resources Conservation Service)

organic matter, active fraction

The highly dynamic or labile portion of soil organic matter that is readily available to soil organisms. May also include the living biomass. Particulate organic matter (POM) and light fraction (LF) are measurable indicators of the active fraction. POM particles are larger than other SOM and can be separated from soil by sieving. LF particles are lighter than other SOM and can be separated from soil by centrifugation. (US Dept of Agriculture- Natural Resources Conservation Service)

organic matter, stabilized organic matter

The pool of soil organic matter that is resistant to biological degradation because it is either physically or chemically inaccessible to microbial activity. These compounds are created through a combination of biological activity and chemical reactions in the soil. Humus is usually a synonym for stabilized organic matter, but is sometimes used to refer to all soil organic matter. (US Dept of Agriculture- Natural Resources Conservation Service)

organic production

Production system managed in accordance with the Organic Foods Production Act of 1990 and subsequent Federal regulations. Organic production systems respond to site-specific conditions by integrating cultural, biological, and mechanical practices that foster cycling of resources, promote ecological balance, and conserve biodiversity. (US Dept of Agriculture- Economic Research Service)

organic soil�

Soil composed of predominantly organic rather than mineral material. Equivalent to Histosol. (US Fish & Wildlife Service)

organically grown

Food, feed crops, and livestock grown within an intentionally-diversified, self-sustaining agro-ecosystem. In practice, farmers build up nutrients in the soil using compost, agricultural wastes, and cover crops instead of synthetically derived fertilizers to increase productivity, rotate crops, weed mechanically, and reduce dramatically their dependence on the entire family of pesticides. Farmers must be certified to characterize crops as organically grown and can only use approved natural and synthetic biochemicals, agents, and materials for three consecutive years prior to harvest. Livestock must be fed a diet that includes grains and forages that have been organically grown and cannot receive hormones, sub-therapeutic antibiotics, or other growth promoters. (US EPA- Pesticides)

organism

Any living being, whether plant, mammal, bird, insect, reptile, fish, crustacean, aquatic or estuarine animal, or bacterium. (US EPA- Pesticides) Any form of animal or plant life. (US Dept of the Interior- Bureau of Reclamation)

orientation

The direction an envelope element faces, i.e., the direction of a vector perpendicular to and pointing away from the surface outside of the element. (Energycodes.gov) The alignment of a building along a given axis to face a specific geographical direction. The alignment of a solar collector, in number of degrees east or west of true south. (US Dept of Energy)

orifice

An opening with a closed perimeter and a regular form through which water flows. If the perimeter is not closed or if the opening flows only partially full, the orifice becomes a weir. (US Dept of the Interior- Bureau of Reclamation)

original combined loan-to-value

(aka CLTV) A ratio calculated at the time of origination for a mortgage loan. The CLTV reflects the loan-to-value ratio inclusive of all loans secured by a mortgaged property on the origination date of the underlying mortgage loan. (Fannie Mae)

original equity

The amount of cash a home buyer initially invests in the home. (HardwickAssociates)

original ground (surface)

The surface of the earth as it exists in an unaltered state (i.e. prior to any earthwork). See existing ground. (US Dept of the Interior- Bureau of Reclamation)

original interest rate

The original interest rate on a mortgage loan as identified in the original mortgage loan documents. (Fannie Mae)

original loan term

The number of months in which regularly scheduled borrower payments are due under the terms of the related mortgage documents. (Fannie Mae)

original loan-to-value

(aka LTV) A ratio calculated at the time of origination for a mortgage loan. The Original LTV reflects the loan-to-value ratio of the loan amount secured by a mortgaged property on the origination date of the underlying mortgage loan. This is calculated by dividing the original loan amount by either (1) in the case of a purchase, the lower of the sales price of a mortgaged property or its value at the time of the sale, or (2) in the case of a refinancing, the value of the mortgaged property at the time of refinancing. (Fannie Mae)

original principal balance

The total amount of principal owed on a mortgage before any payments are made. (Federal Trade Commission) The total principal owed on a mortgage prior to any payments being made. (US Dept of HUD) The total amount of principal owed on a mortgage loan at the time of closing. (HardwickAssociates)

original unpaid principal balance

(aka UPB) The original amount of the mortgage loan as indicated by the mortgage documents. (Fannie Mae)

origination

The process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property appraisal. (US Dept of HUD)

origination fee

The amount charged by a lender to originate and close a mortgage loan. Origination fees are usually expressed in points. (Ginnie Mae) A fee paid to a lender or broker to cover the administrative costs of processing a loan application. The origination fee typically is stated in the form of points. One point is one percent of the mortgage amount. (Federal Trade Commission) A fee charged to the borrower by the loan originator for making a mortgage loan. (US Dept of HUD- HUD's Settlement Cost Booklet) The charge for originating a loan; is usually calculated in the form of points and paid at closing. One point equals one percent of the loan amount. On a conventional loan, the loan origination fee is the number of points a borrower pays. (US Dept of HUD) Refers to the total number of points paid by a borrower at closing. (HardwickAssociates)

origination service

Any service involved in the creation of a mortgage loan, including but not limited to the taking of the loan application, loan processing, and the underwriting and funding of the loan, and the processing and administrative services required to perform these functions. (US Dept of HUD- RESPA Act: Final Rule)

origination services

Any service involved in the creation of a mortgage loan, including but not limited to the taking of the loan application, loan processing, and the underwriting and funding of loan, and the processing and administrative services required to perform these functions. (US Dept of HUD- HUD's Settlement Cost Booklet)

originator

The individual or entity that gathers application data from the borrower. Alternatively, a person or entity, such as a loan officer, broker, or correspondent, who assists a borrower with the loan application. (Federal Financial Institutions Examination Council)

o-ring

A rubber seal used around stems of some valves to prevent water from leaking past. (US Dept of the Interior- Bureau of Reclamation)

ortho

See digital ortho. (US Fish & Wildlife Service)

OTC margin bond

A debt security not traded on the national securities exchange, which meets certain Regulation T requirements as to size of original offering, available information and status of interest payments. (Federal Reserve Education) A debt security, not traded on the national securities exchange, which meets certain Regulation T requirements as to size of original offering, available information, and status of interest payments. See also over the counter (OTC). (Federal Reserve Bank- SF)

other 2-axle 4-tire vehicles (Truck)

Includes vans, pickup trucks, and sport utility vehicles. (US Dept of Transportation- Federal Highway Administration)

other aquatic habitats

Includes wetlands and deepwater habitats occurring in the Riverine, Lacustrine, or Marine Systems, and deepwater habitats occurring in the Estuarine System as defined by Cowardin et al. 1979 (see Wetlands). (US Dept of Agriculture- Natural Resources Conservation Service)

other freeways and expressways (highway)

All urban principal arterials with limited access but not part of the Interstate system. (US Dept of Transportation- Federal Highway Administration)

other oilseed

Term referring to oilseed crops other than soybeans: sunflower seed, canola, rapeseed, safflower, mustard seed, flaxseed, crambe, and sesame seed. Also referred to as minor oilseeds. Additional oilseeds may be designated by the Secretary. (US Dept of Agriculture- Economic Research Service)

other pesticide chemicals

Chemicals registered as pesticides but which are produced and marketed mostly for other purposes, i.e., multi-use chemicals. Notable examples are sulfur, petroleum products (e.g., kerosene, oils and distillates), salt and sulfuric acid. (US EPA- Pesticides)

other principal arterials (highway)

Major streets or highways, many of multi-lane or freeway design, serving high-volume traffic corridor movements that connect major generators of travel. (US Dept of Transportation- Federal Highway Administration)

other residential

A type of building occupancy that includes apartment buildings as well as hotels, motels, tourist homes, and rooming houses that have more than 4 units where the normal occupancy of a guest is 6 months or more. These buildings are permitted incidental occupancies. The total area of incidental occupancy is limited to less than 25 percent of the total floor area within the building. Examples of other residential buildings include dormitories and assistedliving facilities. (Federal Emergency Management Agency)

other revenue vehicles (transit)

Other revenue-generating modes of transit service, such as cable cars, personal rapid transit systems, monorail vehicles, inclined and railway cars, not covered otherwise. (US Dept of Transportation- Federal Highway Administration)

other rural land

A Land cover/use category that includes farmsteads and other farm structures, field windbreaks, barren land, and marshland. (US Dept of Agriculture- Natural Resources Conservation Service)

other than temporary impairment

(aka OTTI) When a security will not return all principal it is considered impaired and the credit union must determine the amount of the impairment. When that impairment is determined to not be temporary, the portion of the impairment due to credit losses must run through the income statement. The portion of the impairment due to market losses is reflected in the equity portion of the balance sheet as other comprehensive income. (National Credit Union Administration)

Otherwise Protected Areas

(aka OPAs) Areas established under Federal, state, or local law, or held by a qualified organization, primarily for wildlife refuge, sanctuary, recreational, or natural resource conservation purposes. The only Federal spending prohibition within OPAs is Federal flood insurance. (Federal Emergency Management Agency)

outage

A discontinuance of electric power supply. (US Dept of Energy) Period during which a generating unit, transmission line, or other facility is out of service. (US Dept of the Interior- Bureau of Reclamation)

out-as-shown determination

An alternative outcome of the FEMA letter of Map Amendment (LOMA) review process stating that a specific property is located outside the Special Flood Hazard Area as indicated on the Flood Hazard Boundary Map or the Flood Insurance Rate Map. (Federal Emergency Management Agency)

outdoor air

Air taken from the outdoors and, therefore, not previously circulated through the system. (Energycodes.gov)

outdoor air supply

Air brought into a building from the outdoors (often through the ventilation system) that has not been previously circulated through the system. Also known as "Make-Up Air." (US Environmental Protection Agency)

outer continental shelf

��Offshore Federal domain. (US Energy Information Administration)

outflow

The amount of water passing a given point downstream of a structure, expressed in acre-feet per day or cubic feet per second. Water flowing out of a body of water. (US Dept of the Interior- Bureau of Reclamation)

outgassing

The process by which materials expel or release gasses. (US Dept of Energy)

outlays

Actual cash (or electronic transfer) payments made to the States or other entities. Outlays are provided as reimbursement for the Federal share for approved highway program activities. (US Dept of Transportation- Federal Highway Administration)

outlet

An opening through which water can be freely discharged from a reservoir to the river for a particular purpose. (US Dept of the Interior- Bureau of Reclamation)

outlet capacity

The amount of water that can be safely released through the outlet works. (US Dept of the Interior- Bureau of Reclamation)

outlet channel (exit channel)

Channel downstream from terminal structure that conveys releases back to the "natural" stream or river. Channel can be excavated in rock or soil, with or without riprap, soil cement or other types of erosion protection. (US Dept of the Interior- Bureau of Reclamation)

outlet gate

A gate controlling the flow of water through a reservoir outlet. (US Dept of the Interior- Bureau of Reclamation)

outlet works

A combination of structures and equipment required for the safe operation and control of water released from a reservoir to serve various purposes, i.e., regulate stream flow and quality; release floodwater; and provide irrigation, municipal, and/or industrial water. Included in the outlet works are the intake structure, conduit, control house-gates, regulating gate or valve, gate chamber, and stilling basin. A series of components located in a dam through which normal releases from the reservoir are made. A device to provide controlled releases from a reservoir. A pipe that lets water out of a reservoir, mainly to supply downstream demands. (US Dept of the Interior- Bureau of Reclamation)

outlet works tower

A tower within a reservoir that contains the mechanisms to open the entrance to the outlet works. (US Dept of the Interior- Bureau of Reclamation)

outside air

Air that is taken from the outdoors. (US Dept of Energy)

outside coil

The heat-transfer (exchanger) component of a heat pump, located outdoors, from which heat is collected in the heating mode, or expelled in the cooling mode. (US Dept of Energy)

outstanding balance

The amount currently owed on a loan. (US Dept of Commerce- Census Bureau)

outstanding check

A check written by a depositor that has not yet been presented for payment to or paid by the depositor's bank. (Help With My Bank)

over the counter

(aka OTC) Figurative term for the means of trading securities that are not listed on an organized stock exchange such as the New York Stock Exchange, as in OTC margin bonds. Over-the-counter trading is done by broker-dealers who communicate by telephone and computer networks. (Federal Reserve Education) Trading of commodities, contracts, or other instruments not listed on any exchange. OTC transactions can occur electronically or over the telephone. Also referred to as Off-Exchange. (US Dept of Agriculture- Economic Research Service)

overages

The difference between the lowest available price and any higher price that the homebuyer agrees to pay for a loan. Loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. (Federal Trade Commission- Shopping for a Mortgage)

overall safety of dams classification

One of the following classifications is assigned to a dam following an onsite examination and subsequent analyses using available data and state-of-the-art knowledge: Satisfactory. - No existing or potential dam safety deficiencies are recognized. Safe performance is expected under all anticipated loading conditions, including such events as the maximum credible earthquake (MCE) and the probable maximum flood (PMF). Fair. - No existing dam safety deficiencies are recognized for normal loading conditions. Infrequent hydrologic and/or seismic events would probably result in a dam safety deficiency. Conditionally Poor. - A potential dam safety deficiency is recognized for unusual loading conditions that may realistically occur during the expected life of the structure. Conditionally Poor may also be used when uncertainties exist as to critical analysis parameters that identify a potential dam safety deficiency; further investigations and studies are necessary. Poor. - A potential dam safety deficiency is clearly recognized for normal loading conditions. Immediate actions to resolve the deficiency are recommended; reservoir restrictions may be necessary until the problem is resolved. Unsatisfactory. - A dam safety deficiency exists for normal loading conditions. Immediate remedial action is required for problem resolution. (US Dept of the Interior- Bureau of Reclamation)

overamping

Exceeding the rated capacity of a system. (US Dept of the Interior- Bureau of Reclamation)

overbreak

Moving or loosening of rock as a result of a blast, beyond the intended line of cut. (US Dept of the Interior- Bureau of Reclamation)

overburden

Soil or rock lying on top of a pay formation. (US Dept of the Interior- Bureau of Reclamation)

overcurrent

Any current in excess of the rated current of equipment or the ampacity of a conductor. It may result from overload, short circuit, or ground fault. (Energycodes.gov)

overdraft

When the amount of money withdrawn from a bank account is greater than the amount actually available in the account, the excess is known as an overdraft, and the account is said to be overdrawn. (Help With My Bank) The pumping of water from a ground water basin or aquifer in excess of the supply flowing into the basin. This pumping results in a depletion or "mining" of the ground water in the basin. (US Dept of the Interior- Bureau of Reclamation)

overdraft checking account

A checking account associated with a line of credit that allows a person to write checks for more than the actual balance in the account, with a finance charge on the overdraft. (Federal Reserve Education) A checking account associated with a line of credit that allows a person to write checks for more than the actual balance in the account, generally with a finance charge on the overdraft. (Federal Reserve Bank- SF)

overdraw

To write a check for an amount that exceeds the amount on deposit in the account. (Help With My Bank)

overexcavation

Excavation beyond specified or directed excavation. Removing unsuitable foundation material. (US Dept of the Interior- Bureau of Reclamation)

overflow dam

A dam designed to be overtopped. (US Dept of the Interior- Bureau of Reclamation)

overflow spillway (ogee spillway)

A spillway that has a control weir that is ogee-shaped (S-shaped) in profile. A spillway on a dam that functions like a dam, but allows water to safely flow over it. (US Dept of the Interior- Bureau of Reclamation)

overhang

A building element that shades windows, walls, and doors from direct solar radiation and protects these elements from precipitation. (US Dept of Energy) Projecting parts of a face or bank. (US Dept of the Interior- Bureau of Reclamation)

overhaul

Movement of (earth) material far enough so that payment, in addition to excavation pay, is made for haulage. The distance in excess of that given as the stated haul distance to haul excavated material. (US Dept of the Interior- Bureau of Reclamation)

overhead glazing area

The area whose horizontal dimension, in each direction, is equal to the overhead glazing dimension plus either the floor to ceiling height or the dimension to the nearest 66" or higher opaque partition, or one-half the distance to the adjacent overhead or vertical glazing. (Energycodes.gov)

overland flow

The flow of rainwater or snowmelt over the land surface toward stream channels. After it enters a stream, it becomes runoff. (US Dept of the Interior- US Geological Survey)

overlimit

An open-end credit account in which the assigned dollar limit has been exceeded. (Help With My Bank)

overload

To exceed the design capacity of a device. (US Dept of Energy)

over-quota tariff

See over-quota tariff in ERS WTO topic Glossary. (US Dept of Agriculture- Economic Research Service)

oversight manager

A person designated by a program office to monitor the activities of a contractor. (Federal Deposit Insurance Corporation)

overtopping

Flow of water over the top of a dam or embankment. (US Dept of the Interior- Bureau of Reclamation)

overturn

The almost spontaneous mixing of all layers of water in a reservoir or lake when the water temperature becomes similar from top to bottom. This may occur in the fall/winter when the surface waters cool to the same temperature as the bottom waters and also in the spring when the surface waters warms after the ice melts. (US Dept of the Interior- Bureau of Reclamation)

overwinding

A rope or cable wound and attached so that it stretches from the top of a drum to the load. (US Dept of the Interior- Bureau of Reclamation)

ovonic

A device that converts heat or sunlight directly to electricity, invented by Standford Ovshinsky, that has a unique glass composition that changes from an electrically non-conducting state to a semiconducting state. (US Dept of Energy)

owned real estate

(aka ORE or REO) An accounting classification of real estate. Marketable title has normally been acquired by (1) judicial or nonjudicial foreclosure, (2) deed in lieu of foreclosure, or (3) by purchase or other acquisition to protect the institution�s interest in a debt or debts previously contracted. The FDIC�s ORE also includes all real estate acquired for investment or resale and the book value of any premises purchased directly or acquired by means of a capital lease used in the reporting receivership�s business operations, net of accumulated depreciation. Also know as real estate owned (REO). (Federal Deposit Insurance Corporation)

owner

Any private person or entity, including a cooperative, an agency of the federal government, or a public housing agency, having the legal right to lease or sublease dwelling units. (US Dept of HUD)

owner financing

A transaction in which the property seller provides all or part of the financing for the buyer�s purchase of the property. (Federal Trade Commission) A home purchase where the seller provides all or part of the financing, acting as a lender. (US Dept of HUD) A transaction where the property owner provides all or part of the financing. (HardwickAssociates)

owner occupied

The state of property wherein the owner occupies at least some portion of the property. (HardwickAssociates)

owner-occupied property

A property that serves as the borrower�s primary residence. (Federal Trade Commission)

owner's policy

The insurance policy that protects the buyer from title defects. (US Dept of HUD) A policy of title insurance which insures an owner's interest and possession in real property. This form does not provide protection for a lender. (Old Republic National Title Insurance Co)

ownership

Ownership is documented by the deed to a property. The type or form of ownership is important if there is a change in the status of the owners or if the property changes ownership. (US Dept of HUD) The right to possess and use property to the exclusion of others. (Old Republic National Title Insurance Co) The separation of Federal and non-Federal lands and the distinction between administrative units of land. Water areas are not classified according to ownership. The six categories of ownership are: Private. A type of ownership pertaining to land belonging to an individual person or persons, a partnership, or a corporation (all of which are persons in the legal sense), as opposed to the public or the government; private property. Municipal. A type of ownership pertaining to land belonging to the local government of a town or city. County or parish. A type of ownership pertaining to land belonging to an administrative subdivision of a State in the United States, which is identified as a county or an equivalent administrative unit in areas where counties do not exist; examples are parishes in Louisiana and boroughs in Alaska. State. A type of ownership pertaining to land belonging to one of the States, commonwealths, or territories of the United States of America. Federal land. A land ownership category designating land that is owned by the Federal Government. It does not include, for example, trust lands administered by the Bureau of Indian Affairs or Tennessee Valley Authority (TVA) land. No data are collected for any year that land is in this ownership. Indian tribal and individual Indian trust lands. A type of ownership of land administered by officially constituted Indian tribal or individual Indian trust entities. (US Dept of Agriculture- Natural Resources Conservation Service)

oxbow channel

A natural U-shaped channel in a river as viewed from above. (US Dept of the Interior- Bureau of Reclamation)

oxygenated gasoline

Gasoline enriched with oxygen bearing liquids to reduce CO production by permitting more complete combustion. (US Dept of Transportation- Federal Highway Administration)

oxygenates

Any substance that when added to motor gasoline increases the amount of oxygen in that gasoline blend. Includes oxygen-bearing compounds such as ethanol, methanol, and methyl-tertiary-butyl-ether. Oxygenated fuel tends to give a more complete combustion of carbon into carbon dioxide (rather than monoxide), thereby reducing air pollution from exhaust emissions. (US Dept of Transportation- Federal Highway Administration) Gasoline fuel additives such as ethanol, ETBE, or MTBE that add extra oxygen to gasoline to reduce carbon monoxide pollution produced by vehicles. (US Dept of Energy)

ozonation

The application of ozone to water for disinfection or for taste and odor control. (US Dept of the Interior- Bureau of Reclamation)

ozone

A gas that is bubbled through water to kill germs. (US Dept of the Interior- Bureau of Reclamation)

ozone 03

Ozone is a colorless gas with a sweet odor. Ozone is not a direct emission from transportation sources. It is a secondary pollutant formed when VOCs and NOx combine in the presence of sunlight. Ozone is associated with smog or haze conditions. Although the ozone in the upper atmosphere protects us from harmful ultraviolet rays, ground-level ozone produces an unhealthy environment in which to live. Ozone is created by human and natural sources. (US Dept of Transportation- Federal Highway Administration)