[§667-24]  Cure of default.  (a)  If the
default is cured as required by the notice of default, the foreclosing
mortgagee shall rescind the notice of default.  Within fourteen days of the
date of the cure, the foreclosing mortgagee shall so notify any person who was
served with the notice of default.  If the notice of default was recorded, a
release of the notice of default shall be recorded.



(b)  If the default is not cured as required by
the notice of default, the foreclosing mortgagee, without filing a court action
and without going to court, may foreclose the mortgage under power of sale to
sell the mortgaged property at a public sale. [L 1998, c 122, pt of §1]