unencumbered property

Residents of this small town where Mr. Mahoney was born and reared have launched a drive to pay his bail, which has been set at $270,000 in cash, or twice that in unencumbered property.

William Travers, a director at Fitch, said that General Growth was weighing several options that might include a combination of refinancing existing mortgages, placing new mortgages on unencumbered property, selling Rouse's nine-million-square-foot office buildings, or issuing new stock.