1442                             Laws of Maryland                      [Ch. 678

manufacturing plant for the acquisition, rehabilitation, or improve-
ment of winch a mortgage loan is sought from the Authority; or
(iii) buildings used primarily for storage or transshipment of manu-
factured goods; or (iv) buildings to be used for research and develop-
ment for the discovery, perfection, and/or evaluation of new proc-
esses and/or products; or (v) the construction, acquisition, rehabili-
tation, or improvement of tourist industry facilities including hotels,
inns, lodges, resort complexes, restaurants, marinas, campgrounds,
travel-trailer parks, and other facilities used by tourists which such
facilities fill an established need in the overall development or ex-
pansion 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 nontourist industry service
establishment. THIS TERM SHALL ALSO MEAN OFFICE BUILD-
INGS FOR USE AS CORPORATE OR COMPANY HEADQUAR-
TERS OR REGIONAL OFFICES PROVIDING THE AUTHORITY
DEEMS THE ECONOMIC IMPACT OF THE PROJECT TO BE
SUBSTANTIAL. The financing, construction, operation, and admin-
istration 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 "Human Relations Commission."

(4) "Local development corporation" means any corporation or
foundation no part of the net earnings of which inures to the benefit
of any private shareholder or individual organized and operated
primarily for the purposes of fostering, encouraging, and assisting
the physical location and settlement of industrial and manufacturing
enterprises within the State or promoting the industry of the State.

(5) "Maturity date" means the date on which the mortgage in-

debtedness would be extinguished if paid in accordance with periodic
payments provided for in the mortgage.

(6) "Mortgage" means a first mortgage on an industrial project
together with the credit instruments thereby secured, including a
construction mortgage creating a first lien on an industrial project
during the period of construction provided the construction mortgage
is followed by a permanent mortgage or commitment therefor secur-
ing a first lien on an industrial project in favor of the same or an-

other lender, and provided, further, that such permanent mortgage
is insured by the Authority. As used in this subtitle, "mortgage"

shall include a deed of trust together with the credit instruments

thereby secured.

(7) "Mortgagee" means the original lender approved by the Au-

thority under a mortgage, and its successors and assigns and may

include all insurance companies, trust companies, banks, building and

loan associations, credit unions, savings and loan associations, in-

vestment companies, savings banks, individuals, executors, adminis-
trators, guardians, conservators, trustees, and other fiduciaries, in-
cluding pension, retirement, and profit sharing funds.

(8) "Mortgagor" means a local development corporation or a mu-
nicipality or a county, or their instrumentalities- , OR IN THE
EVENT THAT THE OPTION PROVIDED IN SECTION 266-X WA
OF THIS ARTICLE BECOMES APPLICABLE, "MORTGAGOR"
SHALL MEAN THE INDUSTRIAL PROJECT APPLICANT.

(9) "Mortgage payments" means periodic payments by the mort-
gagor to the mortgagee required by the mortgage, and may include