(a) This section does not apply to a: (1) Home equity line of credit; (2) Loan secured by an indemnity deed of trust; or (3) Commercial loan. (b) Before the settlement of a loan secured by a mortgage or deed of trust on residential real property improved by four or fewer single-family units that is subject to a redeemable ground rent, the settlement agent shall notify the borrower that: (1) The borrower has the right to redeem the ground rent under § 8- 804 of this subtitle; (2) The redemption amount is fixed by law but may also be negotiated with the ground lease holder for a different amount; (3) It may be possible to include the amount of the redemption in this loan; (4) For information on redeeming the ground rent, the borrower should contact the ground lease holder; and (5) For information on including the amount of the redemption in this loan, the borrower should contact the lender or credit grantor making this loan.
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