DIP - A lower section of a road or geological feature.
PER - For each.
PIE - A type of pastry that consists of an outer crust and a filling.
RED - Having red as its colour.
RID - Released from an obligation, problem, etc. (usually followed by "of").
RIP - A tear (in paper, etc.).
ZIP - The high-pitched sound of a small object moving rapidly through air.
REP - Short form of reputation.
DIRE - Ill-boding; portentous.
DRIP - To fall one drop at a time.
PIER - A raised platform built from the shore out over water, supported on piles; used to secure, or provide access to shipping; a jetty.
RIDE - To play defense on the defensemen or midfielders, as an attackman.
RIPE - Ready for reaping or gathering; having attained perfection; mature; -- said of fruits, seeds, etc.; as, ripe grain.
PRIDE - The quality or state of being proud; inordinate self-esteem; an unreasonable conceit of one's own superiority in talents, beauty, wealth, rank etc., which manifests itself in lofty airs, distance, reserve and often contempt of others.
PRIZE - That which is taken from another; something captured; a thing seized by force, stratagem, or superior power.
PRIED - Simple past tense and past participle of pry.
PRIZED - Highly valued, cherished.