Disposal of void or lapsed instruments; termination statement; exceptions.

Unless the Recorder of Deeds has notice of an action pending relative thereto, he may remove from the files and destroy: An instrument filed in his office pursuant to Chapter 12 of Title 50, which has become void or lapsed, and which has been void or lapsed for 1 year or more, together with any affidavit, release, assignment, or continuation or termination statement relating thereto; A lapsed financing statement, a lapsed continuation statement, a statement of assignment or release relating to either, filed pursuant to part 4 of Article 9 of Subtitle I of Title 28, and any index of any of them, 1 year or more after lapse of the financing statement and every continuation statement related thereto; and A termination statement filed pursuant to § 28:9-404, and the index on which it is noted, 1 year or more after the filing of the termination statement. Subsection (a) of this section does not apply to a bill of sale, mortgage, deed of trust, conditional sale of, financing statement or security agreement covering, railroad rolling stock.