MARVIN MANDEL, Governor                      1047

new processes and/or products; or (v) the construction, acquisition,
rehabilitation, or improvement of tourist industry facilities includ-
ing hotels, inns, lodges, resort complexes, restaurants, marinas,
campgrounds, travel-trailer parks, and other facilities used by tour-
ists when such facilities fill an established need in the overall devel-
opment or expansion of a municipality's, county's, or region's tourist
industry and/or convention business. However, "industrial project"
shall not be deemed to include a mercantile or non-tourist industry
service establishment. The financing, construction, operation, and
administration of an industrial project under this subtitle shall be
subject to the provisions concerning discrimination and unlawful
practices in Article 49B of this Code, title "Interracial Commission."

266R.

(a) Upon default in payment of any installment by the mortgagor,
the Authority, after notification of such default, will pay to or on
behalf of the mortgagee all sums required by the [lease] mortgage,
exclusive of any acceleration provision, as and when such sums fall
due, and no more, to the extent provided in the mortgage insurance
agreement.

266U.

(a)  The Authority may fix mortgage insurance premiums for the
insurance of mortgage payments under the provisions of this sub-
title, such premiums to be computed as a percentage of the principal
obligation of the mortgage outstanding at the beginning of each
mortgage year. Such insurance premiums shall not be more than
three (3) percent per year of said outstanding principal obligation
and shall be calculated on the basis of all pertinent and available
data. Such premiums shall be payable by the mortgagors or the
mortgagees in such manner as shall be prescribed by the Authority.
The amount of premium need not be uniform among the various
loans insured.

(b)  The Authority shall waive mortgage insurance premiums for
the insurance of mortgage payments with respect to an industrial
project where the Authority finds that such an industrial project is
located within a county or the City of Baltimore for which the
average percentage rate of unemployment as determined by the
Maryland Department of Employment Security is at least one per-
cent (1%) greater than the average percentage unemployment rate
for the United States as determined by the United States Depart-
ment of Labor with respect to a preceding twelve month period,
which period ends no more than twelve months prior to the date that
the Authority makes the determination as set forth above.

266Z.

[(k)] (b) If at any time the amount of funds credited to the mort-
gage insurance fund exceeds an amount deemed adequate by the
Authority to meet its obligations, the excess shall, upon resolution
duly adopted by the members of the Authority, be paid to the Treas-
urer of the State of Maryland. [In the event any certificates of
indebtedness have been issued pursuant to the authorization con-
tained in this section, the