3868                                   LAWS OF MARYLAND                                Ch. 753

(I) THE ACTUAL AND REASONABLE COST OF THE
SALE;

(II) THE ACTUAL AND REASONABLE COST OF
RETAKING AND STORING THE GOODS; AND

(III) THE UNPAID BALANCE OWING UNDER THE
AGREEMENT AT THE TIME THE GOODS ARE REPOSSESSED.

(3) THE LENDER SHALL FURNISH TO THE BUYER A
WRITTEN STATEMENT WHICH SHOWS THE DISTRIBUTION OF THE
PROCEEDS.

(4) IF THE PROVISIONS OF THIS SECTION, INCLUDING
THE REQUIREMENT OF FURNISHING A NOTICE FOLLOWING
REPOSSESSION, ARE NOT FOLLOWED, THE LENDER SHALL NOT BE
ENTITLED TO ANY DEFICIENCY JUDGMENT TO WHICH HE WOULD BE
ENTITLED UNDER THE LOAN AGREEMENT.

(L) IF THERE IS NO RESALE OF REPOSSESSED GOODS, ALL
OBLIGATIONS OF THE BORROWER UNDER THE AGREEMENT SHALL BE
DISCHARGED, AND THE HOLDER MAY RETAIN THE GOODS AS HIS OWN
PROPERTY WITHOUT OBLIGATION TO ACCOUNT TO THE BUYER.

12-116.

ANY LOAN MADE BEFORE JULY 1, 1982, WHICH IS REFINANCED
AT A HIGHER RATE PURSUANT TO SECTIONS 12-103(A) AND (C),
12-306, OR 12-404 OF THE COMMERCIAL LAW ARTICLE OR SECTION
6-507 OF THE FINANCIAL INSTITUTIONS ARTICLE MUST COMPLY WITH
THE FOLLOWING REQUIREMENTS:

(1) THE LENDER MUST GIVE THE FOLLOWING
DISCLOSURES IN WRITING TO THE BORROWER PRIOR TO THE
EXECUTION BY THE BORROWER OF THE NEW LOAN AGREEMENT:

IF YOU DO AGREE TO CONSOLIDATE YOUR EXISTING LOAN, YOU

WILL BE PAYING AN ANNUAL PERCENTAGE RATE OF _____ % ON THE

EXISTING NET BALANCE OF $____, INSTEAD OF THE RATE OF ______          %
WHICH YOU ARE NOW PAYING.

SCHEDULE OF MONTHLY PAYMENTS

SEPARATE LOAN AGREEMENTS CONSOLIDATED LOAN AGREEMENT

$ PER MONTH FOR                           $____PER MONTH FOR

THE NEXT __________MONTHS                          THE NEXT___MONTHS

THEN

$ PER MONTH FOR
_____MONTHS AFTER THAT