2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 96 - Default
Section 9604 - Procedure if security agreement covers real property or fixtures

     § 9604.  Procedure if security agreement covers real property or
                fixtures.
        (a)  Enforcement: personal and real property.--If a security
     agreement covers both personal and real property, a secured
     party may proceed:
            (1)  under this chapter as to the personal property
        without prejudicing any rights with respect to the real
        property; or
            (2)  as to both the personal property and the real
        property in accordance with the rights with respect to the
        real property, in which case the other provisions of this
        chapter do not apply.
        (b)  Enforcement: fixtures.--Subject to subsection (c), if a
     security agreement covers goods which are or become fixtures, a
     secured party may proceed:
            (1)  under this chapter; or
            (2)  in accordance with the rights with respect to real
        property, in which case the other provisions of this chapter
        do not apply.
        (c)  Removal of fixtures.--Subject to the other provisions of
     this chapter, if a secured party holding a security interest in
     fixtures has priority over all owners and encumbrancers of the
     real property, the secured party, after default, may remove the
     collateral from the real property.
        (d)  Injury caused by removal.--A secured party that removes
     collateral shall promptly reimburse any encumbrancer or owner of
     the real property, other than the debtor, for the cost of repair
     of any physical injury caused by the removal. The secured party
     need not reimburse the encumbrancer or owner for any diminution
     in value of the real property caused by the absence of the goods
     removed or by any necessity of replacing them. A person entitled
     to reimbursement may refuse permission to remove until the
     secured party gives adequate assurance for the performance of
     the obligation to reimburse.

        Cross References.  Section 9604 is referred to in section
     9109 of this title.