5. Supporting Obligations. Subsection (d) [Maine cite subsection (4)] is new. It provides for automatic perfection of a security interest in a supporting obligation for collateral if the security interest in the collateral is perfected. This is unlikely to effect any change in the law prior to adoption of this Article.

Example 2: Buyer is obligated to pay Debtor for goods sold. Buyer's president guarantees the obligation. Debtor creates a security interest in the right to payment (account) in favor of Lender. Under Section 9-203(f) [Maine cite section 9-1203, subsection (6)], the security interest attaches to Debtor's rights under the guarantee (supporting obligation). Under subsection (d) [Maine cite subsection (4)], perfection of the security interest in the account constitutes perfection of the security interest in Debtor's rights under the guarantee.

6. Rights to Payment Secured by Lien. Subsection (e) [Maine cite subsection (5)] is new. It deals with the situation in which a security interest is created in a right to payment that is secured by a security interest, mortgage, or other lien.

Example 3: Owner gives to Mortgagee a mortgage on Blackacre to secure a loan. Owner's obligation to pay is evidenced by a promissory note. In need of working capital, Mortgagee borrows from Financer and creates a security interest in the note in favor of Financer. Section 9-203(g) [Maine cite section 9-1203, subsection (7)] adopts the traditional view that the mortgage follows the note; i.e., the transferee of the note acquires the mortgage, as well. This subsection adopts a similar principle: perfection of a security interest in the right to payment constitutes perfection of a security interest in the mortgage securing it.

An important consequence of the rules in Section 9-203(g) [Maine cite section 9-1203, subsection (7)] and subsection (e) [Maine cite subsection (5)] is that, by acquiring a perfected security interest in a mortgage (or other secured) note, the secured party acquires a security interest in the mortgage (or other lien) that is senior to the rights of a person who becomes a lien creditor of the mortgagee (Article 9 debtor [Maine cite Article 9-A debtor]). See Section 9-317(a)(2) [Maine cite section 9-1317, subsection (1), paragraph (b)]. This result helps prevent the separation of the mortgage (or other lien) from the note.