HARRY HUGHES, Governor

449

COUNTERPART IS RECORDED IN ANOTHER COUNTY OR IN THE SAME COUNTY.
(G) REFINANCING INSTRUMENT.

(1)  IN THIS SUBSECTION, "ORIGINAL MORTGAGOR" INCLUDES
AN INDIVIDUAL WHO ASSUMED A DEBT SECURED BY REAL PROPERTY THAT
THE INDIVIDUAL PURCHASED AS A PRINCIPAL RESIDENCE AND WHO PAID
THE RECORDATION TAX ON THE CONSIDERATION PAID FOR THE PROPERTY.

(2)  A MORTGAGE OR DEED OF TRUST FOR IS NOT SUBJECT TO
RECORDATION TAX TO THE EXTENT THAT IT SECURES THE REFINANCING OF
AN AMOUNT NOT GREATER THAN THE UNPAID PRINCIPAL AMOUNT SECURED BY
AN EXISTING MORTGAGE OR DEED OF TRUST AT THE TIME OF REFINANCING
BY THE ORIGINAL MORTGAGOR OF REAL PROPERTY THAT IS USED AS A
PRINCIPAL RESIDENCE BY THE ORIGINAL MORTGAGOR IS NOT SUBJECT TO
RECORDATION TAX.

(3)  TO QUALIFY FOR AN EXEMPTION UNDER PARAGRAPH (2)
OF THIS SUBSECTION AN ORIGINAL MORTGAGOR SHALL INCLUDE A
STATEMENT IN THE RECITALS OR IN THE ACKNOWLEDGMENT OF THE
MORTGAGE OR DEED OF TRUST, OR SUBMIT WITH THE MORTGAGE OR DEED OF
TRUST, AN AFFIDAVIT UNDER OATH, SIGNED BY THE ORIGINAL MORTGAGOR,
STATING:

(I)  THAT THE INDIVIDUAL IS THE ORIGINAL
MORTGAGOR;

(II)  THAT THE MORTGAGED PROPERTY IS THE
PRINCIPAL RESIDENCE OF THE ORIGINAL MORTGAGOR; AND

(III)  THE AMOUNT OF UNPAID PRINCIPAL OF THE
ORIGINAL MORTGAGE OR DEED OF TRUST THAT IS BEING REFINANCED.

(H) MECHANIC'S LIENS OR CROP LIENS.

AN INSTRUMENT OF WRITING OF A MECHANIC'S LIEN OR CROP LIEN
THAT RELATES TO FARM PRODUCTS OR EQUIPMENT USED IN FARMING
OPERATIONS IS NOT SUBJECT TO RECORDATION TAX.

(I) MORTGAGES.

A PURCHASE MONEY MORTGAGE OR A PURCHASE MONEY DEED OF TRUST
IS NOT SUBJECT TO RECORDATION TAX.

(J) ASSIGNMENTS OF MORTGAGES AND DEEDS OF TRUST.

AN ASSIGNMENT OF A MORTGAGE OR DEED OF TRUST IS NOT SUBJECT
TO RECORDATION TAX.

(K) UNIFORM COMMERCIAL CODE SECURITY AGREEMENTS.

A SECURITY AGREEMENT FILED OR RECORDED UNDER THE MARYLAND
UNIFORM COMMERCIAL CODE IS NOT SUBJECT TO RECORDATION TAX, IF IT
IS FILED OR RECORDED: