BLAIR LEE III,

Acting Governor

1571

FORECLOSURE OR RELEASE THEREOF.

(A)    FUNDS IN ANY ESCROW ACCOUNT FOR USE IN PAYING
TAXES, INSURANCE PREMIUMS AND GROUND RENTS MAY NOT BE USED
TO REDUCE THE PRINCIPAL, OR TO PAY INTEREST OR OTHER LOAN
CHARGES EXCEPT UPON FORECLOSURE, RELEASE, OR AS PROVIDED IN
SUBSECTION (B).

(B)    IF THERE IS PERIODICALLY AN OVERAGE IN THE ESCROW
ACCOUNT THE BORROWER SHALL BE GIVEN AT LEAST ANNUALLY THE
OPTION OF RECEIVING A REFUND OF THE OVERAGE. APPLYING THE
OVERAGE TO THE PAYMENT OF PRINCIPAL AND INTEREST OR OF
LEAVING THE OVERAGE IN THE ESCROW ACCOUNT. A REFUND OF THE
OVERAGE SHALL BE MADE WITHIN 60 DAYS OF THE RECEIPT OF THE

REQUEST BY THE LENDER. IF THE BORROWER FAILS TO NOTIFY THE

LENDER OF HIS INTENT WITHIN 60 DAYS FROM THE DATE THE LENDER
MAILED NOTICE OF AN OVERAGE, THE LENDER SHALL RETURN ANY
OVERAGE TO THE BORROWER PROMPTLY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 16, 1978.

CHAPTER 429

(Senate Bill 101)

AN ACT concerning

Noise Control

FOR the purpose of providing that noise standards apply to
public property with certain exceptions; and providing
that certain regulations shall be promulgated jointly
by the Departments of Health and Mental Hygiene and
Transportation within one year of the effective date of
the Act.

BY repealing and reenacting, with amendments,

Article 43 - Health

Section 824

Annotated Code of Maryland

(1971 Replacement Volume and 1977 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 43 - Health

824.