2572

LAWS OF MARYLAND

Ch. 472

lien takes effect on the date a notice of lien is recorded. At

the time this lien takes effect, any temporary lien then in

effect shall be automatically and fully released, and the

recorded notice of this lien shall constitute notice of the
release of the temporary lien.

3.   This lien may be enforced and foreclosed in
accordance with the procedures prescribed in Rules W 71 through W
76 of the Maryland Rules of Procedure, except that neither the
State nor any agent appointed by the State to sell the property
need file a bond.

4.  The owner or any other interested party may
obtain release of this lien at any time by paying to the State
the full amount of the judgment rendered by the circuit court,
together with interest from the date of judgment. Upon payment
in full, the Secretary of the Board of Public Works shall cause a
release to be recorded in the land records.

5.   If the circuit court finds that there has
been no default or if the full amount of the court's judgment is
paid to the State within 30 days after the court's final order,
any temporary lien then in effect shall be released immediately
and the Secretary of the Board of Public Works shall cause the
release to be recorded in the land records.

(v) All funds recovered pursuant to this right of
recovery shall be deposited in the Annuity Bond Fund and shall be
applied to the debt service requirements of the State. The Board
of Public Works may waive the State's right of recovery if it
determines that there is good cause for releasing the transferor,
transferee, or owner from this obligation.

(10) There is hereby levied and imposed an annual State Tax
on all assessable property in the State in rate and amount
sufficient to pay the principal of and interest on the bonds as
and when due and until paid in full, such principal to be
discharged within fifteen years of the date of issue of the
bonds.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1984.

Approved May 15, 1984.

CHAPTER 473
(House Bill 1268)
AN ACT concerning