674

LAWS OF MARYLAND

Ch. 33

The only changes are in style.

This section includes those requisites of present
Art. 41, § 266T (b) that are limited to approvals
for insurance. Those requisites of present Art.
41, § 266T(b) that are of a general nature and
applicable to all loans, whether or not to be
insured, are set forth in § 13-131 of this
subtitle. See revisor's note to subsection (a)
of that section.

(B)   GENERAL FORM AND TERMS.
THE MORTGAGE SHALL:

(1)   BE IN THE FORM THAT THE AUTHORITY REQUIRES;
AND

(2)   CONTAIN THE TERMS AND PROVISIONS WITH
RESPECT TO INSURANCE, REPAIRS, ALTERATIONS, PAYMENT OF OR
PAYMENTS IN LIEU OF TAXES AND ASSESSMENTS, DEFAULT RESERVES,
DELINQUENCY CHARGES, DEFAULT REMEDIES, ANTICIPATION OF
MATURITY, ADDITIONAL AND SECONDARY LIENS, AND OTHER MATTERS
THAT THE AUTHORITY REQUIRES.

REVISOR'S NOTE: This subsection presently appears as
Art. 41, § 266T(b) (5) .

In item (2) of this subsection, the general term
"insurance" is substituted for the reference to
"property insurance" to clarify the applicability
of this provision to liability as well as hazard
or casualty insurance. This change conforms to
the current practice of the Authority, as
supported by the general catchall reference to
"other matters that the Authority requires".

The only other changes are in style.

As to the scope of this subsection, see revisor's
note to subsection (a) of this section.

(C)   REPAYMENT PROVISIONS.

(1)   THE MORTGAGE SHALL CONTAIN REPAYMENT
PROVISIONS THAT ARE SATISFACTORY TO THE AUTHORITY.

(2)   THESE PROVISIONS MAY INCLUDE REQUIREMENTS
FOR THE PAYMENT BY THE MORTGAGOR OF:

(I)   PRINCIPAL AND INTEREST;

(II)   PROPERTY TAXES AND ASSESSMENTS OR
PAYMENTS IN LIEU OF THESE TAXES AND ASSESSMENTS;

(III)   ANY LANDLEASE RENTALS;