J. MILLARD TAWES, Governor 933
(a) a subsequent purchaser for value of any interest in the real
estate; or
(b) a creditor with a lien on the real estate subsequently obtained
by judicial proceedings; or
(c) a creditor with a prior encumbrance of record on the real
estate to the extent that he makes subsequent advances
if the subsequent purchase is made, the lien by judicial proceedings
is obtained, or the subsequent advance under the prior encumbrance
is made or contracted for without knowledge of the security interest
and before it is perfected. A purchaser of the real estate at a fore-
closure sale other than an encumbrancer purchasing at his own fore-
closure sale is a subsequent purchaser within this Section.
(5) When under subsections (2) or (3) and (4) a secured party
has priority over the claims of all persons who have interests in
the real estate, he may, on default, subject to the provisions of Part
5, remove his collateral from the real estate but he must reimburse
any encumbrancer or owner of the real estate who is not the debtor
and who has not otherwise agreed for the cost of repair of any
physical injury, but not for any diminution in value of the real estate
caused by the absence of the goods removed or by any necessity for
replacing them. A person entitled to reimbursement may refuse
permission to remove until the secured party gives adequate security
for the performance of this obligation.
9—314. Accessions.—
(1) A security interest in goods which attaches before they are
installed in or affixed to other goods takes priority as to the goods
installed or affixed (called in this section "accessions") over the
claims of all persons to the whole except as stated in subsection (3)
and subject to Section 9—315 (1).
(2) A security interest which attaches to goods after they become
part of a whole is valid against all persons subsequently acquiring
interests in the whole except as stated in subsection (3) but is in-
valid against any person with an interest in the whole at the time the
security interest attaches to the goods who has not in writing con-
sented to the security interest or disclaimed an interest in the goods
as part of the whole.
(3) The security interests described in subsections (1) and (2)
do not take priority over
(a) a subsequent purchaser for value of any interest in the whole;
or
(b) a creditor with a lien on the whole subsequently obtained by
judicial proceedings; or
(c) a creditor with a prior perfected security interest in the whole
to the extent that he makes subsequent advances
if the subsequent purchase is made, the lien by judicial proceedings
obtained or the subsequent advance under the prior perfected security
interest is made or contracted for without knowledge of the security
interest and before it is perfected. A purchaser of the whole at a fore-
|