HERBERT R. O'CONOR, GOVERNOR. 465

10% of the average annual rental over the entire term of the
lease, including any renewal term, plus the actual considera-
tion, other than rent, paid or to be paid. Where the average
annual rental cannot be determined the tax shall be based
upon the assessed value of the property covered by the lease.

No tax shall be required for the recordation of any instru-
ment securing a debt that merely confirms, corrects, modifies,
or supplements an instrument previously recorded, or con
veys or pledges property in addition to, or in substitution for
the property originally conveyed or pledged, if such supple-
mental instrument does not increase the amount of the debt
secured by the instrument previously recorded.

No tax shall be required for the recordation of any instru-
ment, other than an instrument securing a debt, that merely
confirms, corrects, modifies or supplements an instrument
previously recorded, if there is no actual consideration paid or
to be paid for the execution of such supplemental instrument.

Any instrument, or counterpart of any instrument, pre-
viously recorded may be recorded in any other county or in
Baltimore City, or in more than one place in the records of a
particular county or Baltimore City, without the payment of
a tax.

If the total amount of the debt which may become secured
by any instrument securing a debt shall not have been in-
curred at the time such instrument is offered for record, the
tax shall be computed solely on the principal amount of the
debt then incurred and secured by such instrument. Before
any additional debt is incurred which is to be secured by an
instrument previously recorded, the debtor shall file with the
Clerks of the Courts with which such instrument has been
recorded a duly verified statement showing the amount of such
additional debt and shall pay the tax with respect thereto
upon, but only upon, the amount of such additional debt so
secured which has been incurred after May 31, 1937, and with
respect to which such tax shall not theretofore have been
paid, less the principal amount of any debt then outstanding
and secured by such instrument which is to be paid or re-
funded out of the proceeds of such additional debt.

214. No instrument subject to the tax imposed by this
sub-title, shall be received for record by any Clerk of the
Court unless and until a stamp is affixed to said instrument
and canceled. The Comptroller shall supply to the Clerks of
the Circuit Courts of the respective Counties or the Clerk of
the Superior Court of Baltimore City, stamps to evidence the
payment of said tax, for sale to persons offering such instru-
ments for record, under such rules and regulations as the
Comptroller may prescribe. The proceeds from the sale of