(1)__The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in section 9-1602 if the standards are not manifestly unreasonable.

(b)__Subsection (1) does not apply to the duty under section 9-1609 to refrain from breaching the peace.

Official Comment

1. Source. Former Section 9-501(3).

2. Limitation on Ability to Set Standards. Subsection (a) [Maine cite subsection (1)], like former Section 9-501(3), permits the parties to set standards for compliance with the rights and duties under this Part if the standards are not "manifestly unreasonable." Under subsection (b) [Maine cite subsection (2)], the parties are not permitted to set standards measuring fulfillment of the secured party's duty to take collateral without breaching the peace.

§9-1604.__Procedure if security agreement covers real property or

fixtures

(1)__If a security agreement covers both personal and real property, a secured party may proceed:

(a)__Under this part as to the personal property without prejudicing any rights with respect to the real property; or

(b)__As to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part do not apply.

(2)__Subject to subsection (3), if a security agreement covers goods that are or become fixtures, a secured party may proceed:

(a)__Under this part; or

(b)__In accordance with the rights with respect to real property, in which case the other provisions of this part do not apply.

(3)__Subject to the other provisions of this part, if a secured party holding a security interest in fixtures has