§ 6A-9-604 Procedure if security agreementcovers real property or fixtures. – (a) Enforcement: personal and real property. If a security agreementcovers both personal and real property, a secured party may proceed:
(1) Under this part as to the personal property withoutprejudicing any rights with respect to the real property; or
(2) As to both the personal property and the real property inaccordance with the rights with respect to the real property, in which case theother provisions of this part do not apply.
(b) Enforcement: fixtures. Subject to subsection (c),if a security agreement covers goods that are or become fixtures, a securedparty may proceed:
(1) Under this part; or
(2) In accordance with the rights with respect to realproperty, in which case the other provisions of this part do not apply.
(c) Removal of fixtures. Subject to the otherprovisions of this part, if a secured party holding a security interest infixtures has priority over all owners and encumbrancers of the real property,the secured party, after default, may remove the collateral from the realproperty.
(d) Injury caused by removal. A secured party thatremoves collateral shall promptly reimburse any encumbrancer or owner of thereal property, other than the debtor, for the cost of repair of any physicalinjury caused by the removal. The secured party need not reimburse theencumbrancer or owner for any diminution in value of the real property causedby the absence of the goods removed or by any necessity of replacing them. Aperson entitled to reimbursement may refuse permission to remove until thesecured party gives adequate assurance for the performance of the obligation toreimburse.
§ 6A-9-604 Procedure if security agreementcovers real property or fixtures. – (a) Enforcement: personal and real property. If a security agreementcovers both personal and real property, a secured party may proceed:
(1) Under this part as to the personal property withoutprejudicing any rights with respect to the real property; or
(2) As to both the personal property and the real property inaccordance with the rights with respect to the real property, in which case theother provisions of this part do not apply.
(b) Enforcement: fixtures. Subject to subsection (c),if a security agreement covers goods that are or become fixtures, a securedparty may proceed:
(1) Under this part; or
(2) In accordance with the rights with respect to realproperty, in which case the other provisions of this part do not apply.
(c) Removal of fixtures. Subject to the otherprovisions of this part, if a secured party holding a security interest infixtures has priority over all owners and encumbrancers of the real property,the secured party, after default, may remove the collateral from the realproperty.
(d) Injury caused by removal. A secured party thatremoves collateral shall promptly reimburse any encumbrancer or owner of thereal property, other than the debtor, for the cost of repair of any physicalinjury caused by the removal. The secured party need not reimburse theencumbrancer or owner for any diminution in value of the real property causedby the absence of the goods removed or by any necessity of replacing them. Aperson entitled to reimbursement may refuse permission to remove until thesecured party gives adequate assurance for the performance of the obligation toreimburse.
§ 6A-9-604 Procedure if security agreementcovers real property or fixtures. – (a) Enforcement: personal and real property. If a security agreementcovers both personal and real property, a secured party may proceed:
(1) Under this part as to the personal property withoutprejudicing any rights with respect to the real property; or
(2) As to both the personal property and the real property inaccordance with the rights with respect to the real property, in which case theother provisions of this part do not apply.
(b) Enforcement: fixtures. Subject to subsection (c),if a security agreement covers goods that are or become fixtures, a securedparty may proceed:
(1) Under this part; or
(2) In accordance with the rights with respect to realproperty, in which case the other provisions of this part do not apply.
(c) Removal of fixtures. Subject to the otherprovisions of this part, if a secured party holding a security interest infixtures has priority over all owners and encumbrancers of the real property,the secured party, after default, may remove the collateral from the realproperty.
(d) Injury caused by removal. A secured party thatremoves collateral shall promptly reimburse any encumbrancer or owner of thereal property, other than the debtor, for the cost of repair of any physicalinjury caused by the removal. The secured party need not reimburse theencumbrancer or owner for any diminution in value of the real property causedby the absence of the goods removed or by any necessity of replacing them. Aperson entitled to reimbursement may refuse permission to remove until thesecured party gives adequate assurance for the performance of the obligation toreimburse.
