210 LAWS OF MARYLAND. [CH. 127

In the event of any such sale, the same shall be public, for
cash, and in the City of Baltimore, and at least thirty-days
notice shall be given by advertisement inserted once a week for
four successive weeks prior to said sale, in at least two daily
newspapers published in the City of Baltimore, and in at least
one daily newspaper published in the City of New York, State
of New York, of the time, place and terms of said sale. The
proceeds of any such sale shall be paid by the purchaser to such
. banking, institution or trust company and to the treasurer
jointly, and out of the proceeds such banking institution or
trust company shall be paid the amount of the aforesaid de-
posit, together with interest as herein provided, and the ex-
pense of such sale; and the balance shall be paid to the Treas-
urer for the State of Maryland.

SEC. 4. And be it further enacted, That the Treasurer of
this State, on behalf of this State, shall have the right and
privilege, and he is hereby authorized and empowered to re-
deem and receive back the said annuity and the mortgage secur-
ing the same at any time prior to a sale thereof, as herein-
before provided, by the return to such banking institution or
trust company of the aforesaid deposit of one-million-five-hun-
dred-thousand-dollars ($1, 500, 000), with interest thereon, at
a rate not exceeding three and one-half per centum, if such re-
demption is made on or before the first day of October, 1916,
together with the cost, if any, of advertising said sale as afore-
said; provided, however, that if the Treasurer notifies such
banking institution or trust company, on or before the first day
of September 1916, of the State's desire to extend such period
of redemption until the thirty-first day of December, 1916,
then and in this event the said annuity and mortgage may be
redeemed and received back as aforesaid, at any time prior to
the sale thereof, by the return to such banking institution or
trust company of the aforesaid deposit, with interest thereonr
at a rate not exceeding three and one-half per centum up to the
first day of October, 1916, and at a rate not exceeding four
per centum for such further time as may elapse from the first
day of October, 1916, until the time of such redemption, to-
gether with the cost, if any, of advertising said sale, as afore-
said.

In the event of the redemption of such annuity and mort-
gage as aforesaid, such banking institution or trust company
shall thereupon be obligated, and it shall be its duty forthwith,
to cancel the assignment aforesaid of said annuity and mort-