Ch. 633

1997 LAWS OF MARYLAND

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, if any, and words indicating that the check is
intended as payment in full of the debt being satisfied; and

(iii) There is attached to the canceled check an affidavit made by a
member of the Maryland Bar that the mortgage or deed of trust has been satisfied, that
the notice required under subparagraph (i) of this paragraph has been sent, and
specifically setting forth the land record reference where the original mortgage or deed of
trust is recorded.

(4)     When the debt secured by a mortgage or deed of trust is fully paid or
satisfied and the holder or the agent of the holder of the mortgage or deed of trust note
OR OTHER OBLIGATION SECURED BY THE DEED OF TRUST, OR THE TRUSTEE OR
SUCCESSOR TRUSTEE UNDER THE DEED OF TRUST, executes and acknowledges a
certificate of satisfaction SUBSTANTIALLY in the form specified under § 4-203(d) of this
article, containing the name of the debtor, holder, [or] the authorized agent of the
holder, OR THE TRUSTEE OR SUCCESSOR TRUSTEE UNDER THE DEED OF TRUST, the
date, and the land record recording reference of the instrument to be released, it may be
received by the clerk and indexed and recorded as any other instrument in the nature of
a release. The certificate of satisfaction shall have the same effect as a release executed
by the holder of a mortgage or the named trustee under a deed of trust.

(5)     WHEN THE HOLDER OF A MORTGAGE OR DEED OF TRUST NOTE OR
OTHER OBLIGATION SECURED BY THE DEED OF TRUST HAS AGREED TO RELEASE
CERTAIN PROPERTY FROM THE LIEN OF THE MORTGAGE OR DEED OF TRUST AND
THE HOLDER OR THE AGENT OF THE HOLDER OF THE MORTGAGE OR DEED OF
TRUST NOTE OR OTHER OBLIGATION SECURED BY THE DEED OF TRUST, OR THE
TRUSTEE OR SUCCESSOR TRUSTEE UNDER THE DEED OF TRUST EXECUTES AND
ACKNOWLEDGES A CERTIFICATE OF PARTIAL SATISFACTION OR PARTIAL RELEASE
SUBSTANTIALLY IN THE FORM SPECIFIED UNDER § 4-203(E) OF THIS ARTICLE,
CONTAINING THE NAME OF THE DEBTOR, HOLDER, THE AUTHORIZED AGENT OF
THE HOLDER, OR THE TRUSTEE OR SUCCESSOR TRUSTEE UNDER THE DEED OF
TRUST THE DATE, THE LAND RECORD RECORDING REFERENCE OF THE
INSTRUMENT TO BE PARTIALLY RELEASED, AND A DESCRIPTION OF THE REAL
PROPERTY BEING PARTIALLY RELEASED, IT MAY BE RECEIVED BY THE CLERK AND
INDEXED AND RECORDED AS ANY OTHER INSTRUMENT IN THE NATURE OF A
PARTIAL RELEASE. THE CERTIFICATE OF PARTIAL SATISFACTION OR PARTIAL
RELEASE SHALL HAVE THE SAME EFFECT AS A PARTIAL RELEASE EXECUTED BY
THE HOLDER OF A MORTGAGE, THE HOLDER OF THE DEBT SECURED BY A DEED OF
TRUST, OR THE NAMED TRUSTEE UNDER A DEED OF TRUST.

(e) A release of a mortgage or deed of trust may be made on a separate
instrument if it states that the mortgagee, HOLDER OF THE DEBT OR OBLIGATION
SECURED BY THE DEED OF TRUST, trustee, or assignee releases the mortgage or deed of
trust and states the names of the parties to the mortgage or deed of trust and the date and

- 3534 -