PARRIS N. GLENDENING, Governor Ch. 409

(B) (1) SUBJECT TO PARAGRAPHS (2) AND (3) OF THIS SUBSECTION,
PERFORMANCE SECURITY MAY INCLUDE THE GRANTING OF A MORTGAGE OR
DEED OF TRUST ON REAL PROPERTY LOCATED WITHIN THE STATE IF SUCH
SECURITY IS SATISFACTORY TO THE PUBLIC BODY AWARDING THE CONTRACT.

(2) THE FACE AMOUNT OF A MORTGAGE OR DEED OF TRUST ON REAL
PROPERTY GRANTED AS SECURITY UNDER THIS SUBSECTION MAY NOT EXCEED 75%
OF THE CONTRACTOR'S EQUITY INTEREST IN THE PROPERTY.

(3) A MORTGAGE OR DEED OF TRUST ACCEPTED UNDER THIS
SUBSECTION OF A VALUE GREATER THAN $100,000 SHALL BE RECORDED BY AN
OFFICIAL DESIGNATED BY THE PUBLIC BODY ACCEPTING THE MORTGAGE OR DEED
OF TRUST IN THE LAND RECORDS OF THE COUNTY WHERE THE REAL PROPERTY IS
SITUATED IN ACCORDANCE WITH § 3-103 OF THE REAL PROPERTY ARTICLE

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved May 8, 1997.

CHAPTER 409
(House Bill 164)

AN ACT concerning

State Employees - Procurement — Competitive Re-Engineering Pilot Program —

Government Services

FOR the purpose of requiring that State agencies periodically review certain services;
imposing certain duties on the Council on Management and Productivity; providing
a process by which State employees will be authorized to restructure their
operations; providing a process by which State employees may submit a proposal in
response to a request for proposals issued by a State agency establishing a
Competitive Re-Engineering Pilot Program: defining certain terms; requiring the
Council on Management and Productivity to adopt certain guidelines and policies;
requiring the Council on Management and Productivity to submit a certain report to
certain legislative committees; providing that the Council on Management and
Productivity must notify certain legislative committees of a certain selection; providing
for the termination of this Act; providing for exemptions from certain provisions of
law; and generally relating to competitive re-engineering a Competitive
Re-Engineering Pilot Program.

BY adding to

Article - State Finance and Procurement

Section 18-101 through 18-107 18-104, inclusive, to be under the new title "Title

18. Competitive Re-Engineering Pilot Program"
Annotated Code of Maryland

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