554 LAWS OF MARYLAND. [CH. 281

54-1. Renewal: A chattel mortgage executed under and
pursuant to this Act shall be invalid as against creditors,
purchasers, mortgagees, and other lienor s and encum-
brancers after the expiration of a period of five years, reck-
oning from the time of the docketing of said chattel mort-
gage, unless before the expiration of such term the mort-
gagee or someone in its behalf shall file a statement con-
taining the names of the parties to the mortgage, the time
and place where docketed, and the amount then due thereon
for principal and interest, in which case the lien of the
mortgage shall be extended for five years from and after
the date of the filing of said statement. The officer filing
the statement shall be entitled to the same fee as in the
case of the docketing and entry of chattel mortgage, and he
shall likewise enter it in the "Federal Farm Credit Lien
Book. "

54J. Assignments: Any mortgage executed under and
pursuant to this Act may be assigned by an instrument in
writing signed and acknowledged by the mortgagee, its
agent, attorney or assignee, and upon presentation of such
assignment to the clerk of the court in the office in which
the original mortgage is docketed, and such assignment
shall, except as to the parties thereto, take effect and be
valid only from the time of filing and noting as herein
provided.

54K. Release: Any chattel mortgage executed under
and pursuant to this Act may be released by an instrument
in writing signed and acknowledge by the mortgagee, or its
assignee or its attorney, or the duly authorized agent of
such mortgagee, or assignee, and upon presentation of such
release in the office of the clerk of the court where the
original mortgage is docketed, the clerk shall index and file
the same and note such release and the date thereof on the
date thereof on the margin of the page of the book where
the original mortgage is docketed, and when so noted such
release shall fully and effectually release the lien of said
mortgage.

54L. Removal of Mortgaged Property: Extinguish-
ment of Lien: The lien of the mortgage shall not be ex-
tinguished or impaired by the removal of the mortgaged
property from the county or city in which the mortgage is
docketed.

54M. Default: Upon default of any of the terms and
provisions of any mortgage executed in accordance with