[§667-23]  Recordation of notice of default. 
Before the deadline date in the notice of default, the notice of default in a
recordable form shall be recorded in a manner similar to recordation of notices
of pendency of action under section 501- 151 or section 634-51, or both, as
applicable.  The recorded notice of default shall have the same effect as a
notice of pendency of action.  From and after the recordation of the notice of
default, any person who becomes a purchaser or encumbrancer of the mortgaged
property shall be deemed to have constructive notice of the power of sale
foreclosure and shall be bound by the foreclosure. [L 1998, c 122, pt of §1]