[§667-27]  Public notice of public sale;
contents; distribution; publication.  (a)  The foreclosing mortgagee shall
prepare the public notice of the public sale.  The public notice shall state:



(1)  The date, time, and place of the public sale;



(2)  The dates and times of the two open houses of the
mortgaged property, or if there will not be any open houses, the public notice
shall so state;



(3)  The unpaid balance of the moneys owed to the
mortgagee under the mortgage agreement;



(4)  A description of the mortgaged property,
including the address or description of the location of the mortgaged property,
and the tax map key number of the mortgaged property;



(5)  The name of the mortgagor and the borrower;



(6)  The name of the foreclosing mortgagee;



(7)  The name of any prior or junior creditors having
a recorded lien on the mortgaged property before the recordation of the notice
of default under section 667-23;



(8)  The name, the address in the State, and the
telephone number in the State of the person in the State conducting the public
sale; and



(9)  The terms and conditions of the public sale.



(b)  The public notice shall also contain
wording substantially similar to the following in all capital letters:



"THE DEFAULT UNDER
THE MORTGAGE AGREEMENT MAY BE CURED NO LATER THAN THREE BUSINESS DAYS BEFORE
THE DATE OF THE PUBLIC SALE OF THE MORTGAGED PROPERTY BY PAYING THE ENTIRE
AMOUNT WHICH WOULD BE OWED TO THE FORECLOSING MORTGAGEE IF THE PAYMENTS UNDER
THE MORTGAGE AGREEMENT HAD NOT BEEN ACCELERATED, PLUS THE FORECLOSING
MORTGAGEE'S ATTORNEY'S FEES AND COSTS, AND ALL OTHER FEES AND COSTS INCURRED BY
THE FORECLOSING MORTGAGEE RELATED TO THE DEFAULT, UNLESS OTHERWISE AGREED TO
BETWEEN THE FORECLOSING MORTGAGEE AND THE BORROWER.  THERE IS NO RIGHT TO CURE
THE DEFAULT OR ANY RIGHT OF REDEMPTION AFTER THAT TIME.  IF THE DEFAULT IS SO
CURED, THE PUBLIC SALE SHALL BE CANCELED."



(c)  If the default is not cured as required by
the notice of default, the foreclosing mortgagee shall have a copy of the
public notice of the public sale of the mortgaged property:



(1)  Mailed or delivered to the mortgagor and the
borrower at their respective last known addresses;



(2)  Mailed or delivered to any prior or junior
creditors having a recorded lien on the mortgaged property before the
recordation of the notice of default under section 667-23;



(3)  Mailed or delivered to the state director of
taxation;



(4)  Mailed or delivered to the director of finance of
the county where the mortgaged property is located;



(5)  Posted on the mortgaged property or on such other
real property of which the mortgaged property is a part; and



(6)  Mailed or delivered to any other person entitled
to receive notice under section 667-5.5.



(d)  The foreclosing mortgagee shall have the
public notice of the public sale published in the classified section of a daily
newspaper of general circulation in the county where the mortgaged property is
located.  The public notice shall be published once each week for three
consecutive weeks (three publications).  The public sale shall take place no
sooner than fourteen days after the date of the publication of the third public
notice advertisement. [L 1998, c 122, pt of §1]