§25‑9‑604. Procedure if security agreement covers real property orfixtures.
(a) Enforcement:personal and real property. If a security agreement covers both personal andreal property, a secured party may proceed:
(1) Under this Part asto the personal property without prejudicing any rights with respect to thereal property; or
(2) As to both thepersonal property and the real property in accordance with the rights withrespect to the real property, in which case the other provisions of this Partdo not apply.
(b) Enforcement:fixtures. Subject to subsection (c) of this section, if a security agreementcovers goods that are or become fixtures, a secured party may proceed:
(1) Under this Part; or
(2) In accordance withthe rights with respect to real property, in which case the other provisions ofthis Part do not apply.
(c) Removal offixtures. Subject to the other provisions of this Part, if a secured partyholding a security interest in fixtures has priority over all owners andencumbrancers of the real property, the secured party, after default, mayremove the collateral from the real property.
(d) Injury caused byremoval. A secured party that removes collateral shall promptly reimburse anyencumbrancer or owner of the real property, other than the debtor, for the costof repair of any physical injury caused by the removal. The secured party neednot reimburse the encumbrancer or owner for any diminution in value of the realproperty caused by the absence of the goods removed or by any necessity ofreplacing them. A person entitled to reimbursement may refuse permission toremove until the secured party gives adequate assurance for the performance ofthe obligation to reimburse. (1965, c. 700, s. 1; 1967, c.562, s. 1; 1975, c. 862, s. 7; 2000‑169, s. 1.)
§25‑9‑604. Procedure if security agreement covers real property orfixtures.
(a) Enforcement:personal and real property. If a security agreement covers both personal andreal property, a secured party may proceed:
(1) Under this Part asto the personal property without prejudicing any rights with respect to thereal property; or
(2) As to both thepersonal property and the real property in accordance with the rights withrespect to the real property, in which case the other provisions of this Partdo not apply.
(b) Enforcement:fixtures. Subject to subsection (c) of this section, if a security agreementcovers goods that are or become fixtures, a secured party may proceed:
(1) Under this Part; or
(2) In accordance withthe rights with respect to real property, in which case the other provisions ofthis Part do not apply.
(c) Removal offixtures. Subject to the other provisions of this Part, if a secured partyholding a security interest in fixtures has priority over all owners andencumbrancers of the real property, the secured party, after default, mayremove the collateral from the real property.
(d) Injury caused byremoval. A secured party that removes collateral shall promptly reimburse anyencumbrancer or owner of the real property, other than the debtor, for the costof repair of any physical injury caused by the removal. The secured party neednot reimburse the encumbrancer or owner for any diminution in value of the realproperty caused by the absence of the goods removed or by any necessity ofreplacing them. A person entitled to reimbursement may refuse permission toremove until the secured party gives adequate assurance for the performance ofthe obligation to reimburse. (1965, c. 700, s. 1; 1967, c.562, s. 1; 1975, c. 862, s. 7; 2000‑169, s. 1.)
§25‑9‑604. Procedure if security agreement covers real property orfixtures.
(a) Enforcement:personal and real property. If a security agreement covers both personal andreal property, a secured party may proceed:
(1) Under this Part asto the personal property without prejudicing any rights with respect to thereal property; or
(2) As to both thepersonal property and the real property in accordance with the rights withrespect to the real property, in which case the other provisions of this Partdo not apply.
(b) Enforcement:fixtures. Subject to subsection (c) of this section, if a security agreementcovers goods that are or become fixtures, a secured party may proceed:
(1) Under this Part; or
(2) In accordance withthe rights with respect to real property, in which case the other provisions ofthis Part do not apply.
(c) Removal offixtures. Subject to the other provisions of this Part, if a secured partyholding a security interest in fixtures has priority over all owners andencumbrancers of the real property, the secured party, after default, mayremove the collateral from the real property.
(d) Injury caused byremoval. A secured party that removes collateral shall promptly reimburse anyencumbrancer or owner of the real property, other than the debtor, for the costof repair of any physical injury caused by the removal. The secured party neednot reimburse the encumbrancer or owner for any diminution in value of the realproperty caused by the absence of the goods removed or by any necessity ofreplacing them. A person entitled to reimbursement may refuse permission toremove until the secured party gives adequate assurance for the performance ofthe obligation to reimburse. (1965, c. 700, s. 1; 1967, c.562, s. 1; 1975, c. 862, s. 7; 2000‑169, s. 1.)
