MARVIN MANDEL, Governor                               377

THE MORTGAGEE MAY REQUIRE THE USUAL COVENANTS BY THE
MORTGAGOR FOR THE PAYMENT OF THE MORTGAGE DEBT, THE TAXES
ON THE MORTGAGED PROPERTY, ANY GROUND RENT, AND THE
PREMIUMS ON FIRE AND EXTENDED COVERAGE INSURANCE IN AN
AMOUNT EQUAL TO THE MORTGAGE INDEBTEDNESS, IF OBTAINABLE,
AND IF NOT, THEN IN THE HIGHEST AMOUNT OF INSURANCE
OBTAINABLE. THE MORTGAGE ALSO MAY REQUIRE THE USUAL
REMEDIES ON DEFAULT BY WAY OF A POWER OF SALE TO THE
MORTGAGEE, HIS ASSIGNS, OR HIS ATTORNEY OR ASSENT TO A
DECREE FOR SALE BY THE MORTGAGOR PURSUANT TO THE MARYLAND
RULES, OR BOTH.

(D) DEED AND MORTGAGE SUPERSEDES LAND INSTALLMENT
CONTRACT.

THE DEED AND MORTGAGE EXECUTED PURSUANT TO THIS
SECTION SHALL SUPERSEDE ENTIRELY THE LAND INSTALLMENT
CONTRACT.

REVISOR'S NOTE: This section presently appears as
Art. 21, §10-103(h) of the Code and is divided
into subsections for organizational purposes.

In subsection (c) , new language is added to
refer to an "assent to a decree" which is
defined in Rule W70 of the Maryland Rules.
The only other changes are in style.

10-106. COMPLIANCE WITH TERMS AND CONDITIONS BY
PURCHASER ON OR BEFORE DATE DESIGNATED IN NOTICE TO
TERMINATE.

IF THE PURCHASER, ON OR BEFORE THE DATE DESIGNATED
IN A NOTICE FROM THE VENDOR OF INTENTION TO TERMINATE A
LAND INSTALLMENT CONTRACT DUE TO THE PURCHASER'S DEFAULT,
COMPLIES WITH THE TERMS AND CONDITIONS IN RESPECT TO
WHICH THE DEFAULT HAS OCCURRED, THE CONTRACT CONTINUES IN
FULL FORCE AND EFFECT, NOTWITHSTANDING ANY CONTRARY
PROVISION IN THE CONTRACT.

REVISOR'S NOTE: This section presently appears as
Art. 21, §10-105 of the Code. The only
changes are in style.

10-107. STATEMENT TO BE FURNISHED BY VENDOR.
(A) FURNISHING OF STATEMENT REQUIRED.

EVERY VENDOR UNDER A LAND INSTALLMENT CONTRACT SHALL
MAIL OR DELIVER A STATEMENT TO THE PURCHASER

(1) ANNUALLY WITHIN 30 DAYS OF JANUARY 1, OR
ON DEMAND OF THE PURCHASER NO MORE THAN TWICE A YEAR, AND