1564                             LAWS OF MARYLAND                       [CH. 709

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 2 of Article 66 of the Annotated Code of Maryland
(1968 Replacement Volume), title "Mortgages," be repealed and
re-enacted with amendments to read as follows:

2. Mortgage to show amount secured, future advances.

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 of 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 mortgages 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 ad-
vances to be made at the mortgagee's options, prior to the full pay-
ment of the mortgage debt but not to exceed in the aggregate the
sum of [fifteen hundred dollars ($1500)] thirty-five hundred dollars
($3500) nor to be made in an amount which would make the mort-
gage 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, mortgagees, and other lienors
and encumbrances, and any of them, provided the full amount of
any such advance is used for paying the cost of any repair, altera-
tions or improvements to the mortgaged property.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved May 14, 1969.

CHAPTER 709
(House Bill 934)

AN ACT to repeal and re-enact, with amendments, Section 478 of
the Code of Public Local Laws of Kent County (1968 Edition,
being Article 15 of the Code of Public Local L