MARVIN MANDEL, Governor                            1655

STATUS, HANDICAPPED OR NATIONAL ORIGIN, BUT MAY REFUSE
LOANS BASED ON HIGHER THAN NORMAL RISKS. HIGHER RISKS
INCLUDE, BUT ARE NOT LIMITED TO THOSE DUE TO THE PRESENCE
OF AN AIRPORT, UNUSUAL DRAINAGE CONDITIONS, OR OTHER
SITUATIONS CAUSING HIGHER THAN NORMAL RISK OF LOSS IN A
PARTICULAR AREA.

NOTHING IN THIS SECTION MAY BE CONSTRUED TO PROHIBIT
A LENDER FROM REFUSING A LOAN (A) ON A PROPERTY OUTSIDE
THE PORTION OF THE STATE IN WHICH IT NORMALLY DOES
BUSINESS OR (B) TO BE USED IN A TYPE OF BUSINESS OR
ACTIVITY OTHER THAN THE TYPES IN CONNECTION WITH WHICH
THE LENDER NORMALLY MAKES LOANS.

NO LENDER WHO RENEWS A LOAN SECURED BY A MORTGAGE OR
DEED OF TRUST, WHICH EXISTED PRIOR TO THE EFFECTIVE DATE
OF THIS ACT, ON RESIDENTIAL REAL PROPERTY, FOR THE SAME
BORROWER, USING THE SAME PROPERTY AS SECURITY, SHALL BE
EXEMPT FROM SECTION 3 OF THIS ARTICLE.]]

NO LENDER WHO RENEWS A LOAN SECURED BY A MORTGAGE OR
DEED OF TRUST, WHICH EXISTED PRIOR TO THE EFFECTIVE DATE

OF__THIS ACT, ON RESIDENTIAL REAL PROPERTY. FOR THE SAME

BORROWER, USING THE SAME PROPERTY AS SECURITY, SHALL BE
EXEMPT FROM SECTION 3 OF THIS ARTICLE.

NO LENDER SHALL MAKE A LOAN SECURED BY A MORTGAGE OR
DEED OF TRUST ON RESIDENTIAL REAL PROPERTY TO THE SAME
BORROWER, USING THE SAME PROPERTY AS SECURITY, FOR A
PERIOD LESS THAN THE SCHEDULED AMORTIZATION TIME
PERIOD.]]

[[SECTION 2. AND BE IT FURTHER ENACTED, That if any
provision of this Act or the application thereof to any
person or circumstance is held invalid for any reason,
the invalidity shall not affect the other provisions or
any other application of this Act which can be given
effect without the invalid provisions or application, and
to this end all the provisions of this Act are declared
to be severable.]]

[[SECTION 3. AND BE IT FURTHER ENACTED, That this
Act is hereby declared to be an emergency measure and
necessary for the immediate preservation of the public
health and safety and having been passed by a yea. and nay
vote supported by three—fifths of all the members elected

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