HARRY HUGHES, Governor                                       453

for clarity.

Also in subsection (a)(2) of this section, the
parenthetical phrase "(relating to industrial
buildings for counties and municipalities)" which
formerly modified "bonds" is deleted as superfluous.

In the introductory language of subsection (b) of this
section, the defined term "security agreement" is
substituted for the former words "liens or
encumbrances", for clarity.

In subsection (b)(1) and (2) of this section, the
references to "perfected by filing" are substituted
for the former references to "filed and offered for
record", for clarity.

In the introductory language of subsection (c) of this
section, the phrase "principal amount of debt secured"
is substituted for the former phrase "any outstanding
mortgage debt", for clarity.

In subsection (d) of this section, the reference to
the exemption for an "instrument of writing" is added
for clarity.

In subsection (f) of this section, the reference to a
previously recorded instrument of writing being
recorded "in the same county" is added for clarity.

Also in subsection (f) of this section, the words
"certified copy" are substituted for the former phrase
"or counterpart of any instrument", for clarity.

Also in subsection (f) of this section, the former
provision that allowed the recording without payment
of tax of a previously recorded instrument in more
than 1 place in a county is deleted as obsolete.

Also in subsection (f) of this section, the former
reference to "Baltimore City" is deleted as included
in the defined term "county".

In subsections (g) through (o) of this section, are
revised as exemptions from recordation tax to state
expressly that which formerly was only implied "the
term 'instruments of writing' does not include".

In subsection (g)(2) of this section, the word
"unpaid", modifying "principal amount", is substituted
for the former word "outstanding", for clarity.

In the introductory language of subsection (g)(3) of
this section, the clause "[t]o qualify for an
exemption under paragraph (2) of this subsection" is