Section 302. Definitions

1. The term "housing accommodation," as used in
  this article, shall mean any building or  structure  which  is  used  or
  occupied,  or  is  intended to be used or occupied, wholly or partly, as
  the home or residence of one or more human beings.
    2. The term "improved real property," as used in this  article,  shall
  include real property upon which a housing accommodation is to be built,
  in  whole  or  in  part,  out  of  the  proceeds of the loan, which when
  completed will constitute a permanent improvement.
    3. The terms "encumbered" and "unencumbered," as used in this article,
  shall have the same meaning as in paragraph six  of  subsection  (a)  of
  section one thousand four hundred four of the insurance law.