(1) A small copy of an existing object. (2) A preliminary representation of something. (3) A pattern.
Model codes
A group of codes and standards accepted by more than one of the Building Code regulatory agencies such as SBCCI, BOCA, and ICBO.
Model furnishings
Interior furnishing included in a model unit, which are chosen to highlight the features of the model unit to show it to its best advantage.
Model unit (home)
A representative home, apartment, or office space used as part of a sales campaign to demonstrate the design, structure and appearance of units in a development.
Modeler's brush
Modern georgian architecture
Modeled after the English Georgian style, this architecture is a perfectly scaled grand symmetrical structure, which is extremely formal and conventional in style.
Modernize
To upgrade a facility by installing up-to-date equipment, making contemporary cosmetic improvements, and deleting obsolete facilities.
Modification
(1) Change in the terms of an agreement. (2) An alteration to a building.
Modified accelerated cost recovery system (macrs)
Term given to two depreciation systems defined by the Internal Revenue Service. The primary system is called the General Depreciation System (GDS). Under GDS, most property is assigned to eight property classes based on their class lives. These property classes provide the recovery period to be used by establishing the number of years over which the basis of an item in a class is recovered. The Alternative Depreciation System (ADS) generally provides for a longer recovery period and uses only the straight line method of depreciation to figure the tax deduction. Both systems establish conventions determining how many months property can be depreciated in the first year it is placed in service and in the year of disposition. Examples of Property Classes:
Modified annual percentage rate (apr)
An index of loan cost based on the standard APR but adjusted for the time the borrower expects to hold the loan.
