258                               LAWS OF MARYLAND                        [CH. 179

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 2 of Article 66 of the Annotated Code of Maryland
(1951 Edition), title "Mortgages", be and it is hereby repealed and
re-enacted, with amendments, to read as follows:

2. No mortgage or deed in the nature of a mortgage shall be a
lien or charge on any estate or property for any other or different
principal sum or sums of money than the principal sum or sums
that shall appear on the face of such mortgage and be specified and
recited therein, and particularly mentioned and expressed to be
secured thereby at the time of executing the same; and, except as
is hereinafter provided, no mortgage or deed in the nature of a
mortgage shall be a lien or charge for any sum or sums of money
to be loaned or advanced after the same is executed, except from
the time said loan or advance shall be actually made; and, except
as is hereinafter provided, no mortgage to secure future loans or
advances shall be valid unless the amount or amounts of the same
and the times when they are to be made shall be specifically stated
in said mortgage; this not to apply to mortgages to indemnify the
mortgagee against loss from being endorser or security, nor to any
mortgages given by brewers to maltsters to secure the payment to
the latter of debts contracted by the former for malt and other
material used in the making of malt liquors; nor are the provisions
hereof intended to apply to deeds of trust in the nature of mort-
gages or any other deeds of trust to secure bonds, notes or other
obligations. Provided, however, that any mortgage, if it so recites,
may secure future advances to be made at the mortgagee's option,
prior to the full payment of the mortgage debt but not to exceed
in the aggregate the sum of [Five Hundred Dollars ($500)] One
Thousand Dollare ($1,000) FIFTEEN HUNDRED DOLLARS
($1,500) nor to be made in an amount which would make the
mortgage debt exceed the original amount thereof; and all such
future advances so made shall be liens and shall be secured by such
mortgage equally and to the same extent as the amount originally
advanced on the security of such mortgage, and all such future
advances shall be a lien on the property therein described as of
the date of the original mortgage, good and valid against and
superior to all rights of subsequent creditors, purchasers, mort-
gagees, and other lienors and encumbrances, and any of them, pro-
vided the full amount of any such advance is used for paying the
cost of any repair, alterations or improvements to the mortgaged
property.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1955.

Approved March 29, 1955.

CHAPTER 179
(Senate Bill 129)

AN ACT to repeal and re-enact, with amendments, Section 94 of
Article 11 of the Annotated Code of Maryland (1951 Edition),

EXPLANATION: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.