Ch. 716                                       LAWS OF MARYLAND

or his agent, it may be received by the clerk and indexed and
recorded as any other instrument in the nature of a release. The
marked note has the same effect as a release of the property for
which it is the security, as if a release were executed by the
named trustees, if there is attached to or endorsed on the note
an affidavit of the holder, the party making satisfaction, or an
agent of either of them, that it has been paid or satisfied, and
specifically setting forth the land record reference where the
original deed of trust is recorded.

(2)  When the debt secured by a mortgage is paid fully
or satisfied, and the original mortgage is marked "paid" or
"cancelled" by the mortgagee or his agent, it may be received by
the clerk and indexed and recorded as any other instrument in the
nature of a release. The marked mortgage has the same effect as
a release of the property for which it is the security, as if a
release were executed by the mortgagee, if there is attached to
or endorsed on the mortgage an affidavit of the mortgagee, the
mortgagor, the party making satisfaction, or the agent of any of
them, that it has been paid or satisfied, and specifically
setting forth the land record reference where the mortgage is
recorded.

(3)  When the debt secured by a mortgage or deed of
trust is paid fully or satisfied, and the canceled check
evidencing final payment is presented, it may be received by the
clerk and indexed and recorded as any other instrument in the
nature of a release. The canceled check has the same effect as a
release of the property for which the mortgage or deed of trust
is the security, as if a release were executed by the mortgagee
or named trustees, if:

(i) The party making satisfaction of the
mortgage or deed of trust has:

1.  Allowed at least a 60-day waiting
period, from the date the mortgage or deed of trust is paid fully
or is satisfied, for the party satisfied to provide a release
suitable for recording;

2.  Sent the party satisfied a copy of
this section and a notice that, unless a release is provided
within 30 days, the party making satisfaction will obtain a
release by utilizing the provisions of this paragraph; and

3.  Following the mailing of the notice
required under sub-subparagraph 2. of this subparagraph, allowed
an additional waiting period of at least 30 days for the party
satisfied to provide a release suitable for recording; and

(ii) The canceled check contains the name of
the party whose debt is being satisfied, the debt account number,

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