1.  The contracts authorized by NRS 705.030 to 705.070, inclusive, shall be filed with the Secretary of State and recorded by the Secretary of State in a book of records to be kept for that purpose. On payment in full of the purchase money and the performance of the terms and conditions stipulated in any such contract, a declaration in writing to that effect shall be made by the vendor, lessor or bailor, or the assignee of the vendor, lessor or bailor, by a separate instrument, to be acknowledged by the vendor, lessor or bailor, or assignee, and recorded as aforesaid.

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2.  The Secretary of State shall collect and pay into the State Treasury $5 for filing each of such contracts or declarations and 20 cents per folio for recording the same.