HARRY HUGHES, Governor

3507

Department of Assessments and Taxation, except for liens or
encumbrances upon vehicles which are filed and offered for
record with the Motor Vehicle Administration, except for
liens or encumbrances upon vessels which are filed and
offered for record with the Department of Natural Resources,
provided that conveyances to the State or any agency thereof
or any political subdivision of the State shall not be
subject to the tax or charge imposed by this section.]

(2) IN THIS SECTION THE FOLLOWING WORDS HAVE
WORD HAS THE MEANING INDICATED.

(2) (I) [The term "instruments] "INSTRUMENTS of
writing" [shall include] INCLUDES deeds, mortgages, chattel
mortgages, bills of sale, leases, deeds of trust, contracts
and agreements, and [shall also include a] filed financing
[statement] STATEMENTS under the Uniform Commercial Code
used to publicize any of the types of a secured transaction
which, prior to enactment [hereof] OF THIS TAX, were
subject to [the tax hereby imposed but shall] THIS TAX.

(II) THE TERM "INSTRUMENTS OF WRITING"
DOES not include:

1.  MORTGAGES OR DEEDS OF TRUST FOR
REFINANCING, TO THE EXTENT THAT THE AMOUNT OF THE
REFINANCING IS NOT MORE THAN THE OUTSTANDING PRINCIPAL
AMOUNT OF THE EXISTING MORTGAGE AT THE TIME OF REFINANCING,
BY THE ORIGINAL MORTGAGOR, OF PROPERTY USED AS THE ORIGINAL
MORTGAGOR'S PRINCIPAL RESIDENCE; IF THE MORTGAGOR FURNISHES
A STATEMENT THAT HE IS THE ORIGINAL MORTGAGOR, THAT THE
PROPERTY IS HIS PRINCIPAL RESIDENCE, AND SPECIFYING THE
AMOUNT OF UNPAID PRINCIPAL ON THE EXISTING MORTGAGE THAT IS
BEING FINANCED, AND THE STATEMENT SHALL BE IN THE MORTGAGE
INSTRUMENT OFFERED FOR RECORD AS PART OF ITS RECITALS OR AS
PART OF THE ACKNOWLEDGMENT, OR IN A SEPARATE AFFIDAVIT
ACCOMPANYING THE INSTRUMENT SIGNED UNDER THE PENALTIES OF
PERJURY BY THE MORTGAGOR;

2.   [mechanic's] MECHANIC'S liens,
crop liens, or security agreements relating to farm products
or equipment used in farming operations[,];

3.   [purchase-money] PURCHASE-MONEY
mortgages[,];

4.   [assignments] ASSIGNMENTS of
mortgages or deeds of trust[,];

5.   [conditional] CONDITIONAL sales
contracts, [or] other purchase-money security agreements or
[a] security [agreement] AGREEMENTS relating to the
assignment of contract rights, accounts, general intangibles
or inventory as [these] THOSE terms are defined in the
Uniform Commercial Code; [or]