468                                            LAWS OF MARYLAND                            [Ch. 12

TRUST EXECUTED ON OR AFTER THE EFFECTIVE DATE.

(15)  SECTION 7-106(B) (7) APPLIES ONLY TO
MORTGAGES OR DEEDS OF TRUST EXECUTED ON OR AFTER THE
EFFECTIVE DATE.

(16)    SECTION 7-106(C) APPLIES TO ALL
PROCEEDINGS INSTITUTED ON OR AFTER THE EFFECTIVE DATE,
WHETHER OR NOT THE MORTGAGE OR DEED OF TRUST WAS EXECUTED
BEFORE OR AFTER THE EFFECTIVE DATE.

(17)   SECTION 8-204 (B) APPLIES ONLY TO THOSE
LEASES ENTERED INTO, RENEGOTIATED, OR RENEWED AFTER JULY
1, 1972.

(18)   SECTION 8-204 (E) APPLIES ONLY TO THOSE
SECURITY DEPOSITS HELD BY A LANDLORD PRIOR TO JULY 1,
1972, WITH INTEREST ACCRUING FROM JULY 1, 1972, SECURITY
DEPOSITS RECEIVED BY THE LANDLORD AFTER JULY 1, 1972,
WITH INTEREST ACCRUING FROM DATE OF RECEIPT.

(19)   SECTION 8-402(A) APPLIES TO ALL LEASES
WHOSE TERMS EXPIRE ON OR AFTER THE EFFECTIVE DATE,
WHETHER OR NOT THE LEASE TERM COMMENCED BEFORE THE
EFFECTIVE DATE.

(20)   SECTION 10-401 APPLIES TO ALL CONTRACTS
WHETHER RECORDED BEFORE OR AFTER THE EFFECTIVE DATE[[,
BUT ANY CONTRACT RECORDED BEFORE THE EFFECTIVE DATE WHICH
WOULD BECOME UNENFORCEABLE AS PROVIDED BY §10-401 DOES
NOT BECOME UNENFORCEABLE UNTIL JULY 1, 1973]].

(21)  SECTION 10-402 APPLIES TO ALL OPTIONS
WHETHER OR NOT RECORDED BEFORE OR AFTER THE EFFECTIVE
DATE.

(22)   SECTION 14-103 APPLIES TO ALL SALES
MENTIONED IN THAT SECTION WHICH OCCUR ON OR AFTER THE
EFFECTIVE DATE.

(23)  SECTION 14-111 APPLIES TO ALL PROCEEDINGS
COMMENCED ON OR AFTER THE EFFECTIVE DATE.

15-103. APPLICABILITY.

EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN THIS
ARTICLE, TRANSACTIONS VALIDLY ENTERED INTO BEFORE THE
EFFECTIVE DATE AND THE RIGHTS, DUTIES, AND INTERESTS
FLOWING FROM THEM REMAIN VALID THEREAFTER AND MAY BE
TERMINATED, COMPLETED, CONSUMMATED, OR ENFORCED AS
REQUIRED OR PERMITTED BY ANY STATUTE AMENDED OR REPEALED
BY THIS ARTICLE AS THOUGH SUCH REPEAL OR AMENDMENT HAD
NOT OCCURRED.