3. Safe-Harbor Form of Notification; Errors in Information. Although paragraph (2) [Maine cite subsection (2)] provides that a particular phrasing of a notification is not required, paragraph (3) [Maine cite subsection (3)] specifies a safe-harbor form that, when properly completed, satisfies paragraph (1) [Maine cite subsection (1)]. Paragraphs (4), (5), and (6) [Maine cite subsections (4), (5) and (6)] contain special rules applicable to erroneous and additional information. Under paragraph (4) [Maine cite subsection (4)], a notification in the safe-harbor form specified in paragraph (3) [Maine cite subsection (3)] is not rendered insufficient if it contains additional information at the end of the form. Paragraph (5) [Maine cite subsection (5)] provides that non-misleading errors in information contained in a notification are permitted if the safe-harbor form is used and if the errors are in information not required by paragraph (1) [Maine cite subsection (1)]. Finally, if a notification is in a form other than the paragraph (3) [Maine cite subsection (3)] safe-harbor form, other law determines the effect of including in the notification information other than that required by paragraph (1) [Maine cite subsection (1)].

§9-1615.__Application of proceeds of disposition; liability for

deficiency and right to surplus

(1)__A secured party shall apply or pay over for application the cash proceeds of disposition in the following order to:

(a)__The reasonable expenses of retaking, holding, preparing for disposition, processing and disposing and, to the extent provided for by agreement and not prohibited by law, reasonable attorney's fees and legal expenses incurred by the secured party;

(b)__The satisfaction of obligations secured by the security interest or agricultural lien under which the disposition is made;

(c)__The satisfaction of obligations secured by any subordinate security interest in or other subordinate lien on the collateral if:

(i)__The secured party receives from the holder of the subordinate security interest or other lien an authenticated demand for proceeds before distribution of the proceeds is completed; and