(1) No promise, acknowledgment, or payment of money by any person bound on any bond or obligation for the payment of money secured by a lien shall operate as an extension of the time within which the lien may be enforced as against purchasers or creditors, unless, before expiration of the limitations period for enforcement of the debt under KRS 413.090(2) or 413.160, as applicable:
(a) For liens secured by a recorded mortgage, a copy of the extension is recorded in accordance with KRS 382.297; or (b) For liens secured by a recorded deed, a memorandum notice of the extension is recorded that contains:
1. The book and page number where the deed is recorded;
2. A statement that the debt is extended;
3. The time period of the extension;
4. The amount of indebtedness remaining due; and 5. The signature of each promisor and the holder of the lien, acknowledged before a notary public.
(2) The payee shall pay the clerk a fee pursuant to KRS 64.012 for the recording.