Attorney General Opinion No.

Robert W. Fairchild Douglas County Counselor 808 Massachusetts Street P.O. Box B Lawrence, Kansas 66044-8996

Dear Mr. Fairchild:

You request our opinion regarding application of the mortgage registration fee statutes to mortgages containing a future advance clause. You provide a list of scenarios that may occur with respect to future advance clauses and seek our response as to each. The first series of questions deals with close-ended future advance clauses:

"1. If a mortgage securing an existing note of $300,000 contains a close-ended future advance clause, which provides that, the principal…