LD 2245
pg. 305
Page 304 of 493 An Act to Adopt the Model Revised Article 9 Secured Transactions Page 306 of 493
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LR 1087
Item 1

 
(a)__Indicate that it covers this type of collateral;

 
(b)__Indicate that it is to be filed in the real property
records;

 
(c)__Provide a description of the real property to which the
collateral is related; and

 
(d)__If the debtor does not have an interest of record in
the real property, provide the name of a record owner.

 
(3)__A record of a mortgage is effective, from the date of
recording, as a financing statement filed as a fixture filing or
as a financing statement covering as-extracted collateral or
timber to be cut only if:

 
(a)__The record indicates the goods or accounts that it
covers;

 
(b)__The goods are or are to become fixtures related to the
real property described in the record or the collateral is
related to the real property described in the record and is
as-extracted collateral or timber to be cut;

 
(c)__The record satisfies the requirements for a financing
statement in this section other than an indication that it
is to be filed in the real property records; and

 
(d)__The record is recorded.

 
(4)__A financing statement may be filed before a security
agreement is made or a security interest otherwise attaches.

 
Official Comment

 
1. Source. Former Section 9-402(1), (5), (6).

 
2. "Notice Filing." This section adopts the system of
"notice filing." What is required to be filed is not, as under
pre-UCC chattel mortgage and conditional sales acts, the security
agreement itself, but only a simple record providing a limited
amount of information (financing statement). The financing
statement may be filed before the security interest attaches or
thereafter. See subsection (d) [Maine cite subsection (4)]. See
also Section 9-308(a) [Maine cite section 9-1308, subsection (1)]
(contemplating situations in which a financing statement is filed
before a security interest attaches).


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