(d)__A secured party that is a consignor of the collateral if the secured party receives from the consignor an authenticated demand for proceeds before distribution of the proceeds is completed.

(2)__If requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time.__Unless the holder does so, the secured party need not comply with the holder's demand under subsection (1), paragraph (c).

(3)__A secured party need not apply or pay over for application noncash proceeds of disposition under this section unless the failure to do so would be commercially unreasonable.__ A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner.

(4)__If the security interest under which a disposition is made secures payment or performance of an obligation, after making the payments and applications required by subsection (1) and permitted by subsection (3):

(a)__Unless subsection (1), paragraph (d) requires the secured party to apply or pay over cash proceeds to a consignor, the secured party shall account to and pay a debtor for any surplus; and

(b)__The obligor is liable for any deficiency.

(5)__If the underlying transaction is a sale of accounts, chattel paper, payment intangibles or promissory notes:

(a)__The debtor is not entitled to any surplus; and

(b)__The obligor is not liable for any deficiency.

(6)__The surplus or deficiency following a disposition is calculated based on the amount of proceeds that would have been realized in a disposition complying with this part to a transferee other than the secured party, a person related to the secured party or a secondary obligor if: