|
The lien is prior to any mortgage or security interest recorded, |
| filed or otherwise perfected after the notice, other than a |
| purchase money security interest perfected in accordance with Title |
| 11, section 9-301, subsection (2) and Title 11, section 9-312, |
| subsection (4). In the case of any mortgage or security interest |
| properly recorded or filed prior to the notice of lien that secures |
| future advances by the mortgagee or secured party, the lien is |
| junior to all advances made within 45 days after filing of the |
| notice of lien, or made without knowledge of the lien or pursuant |
| to a commitment entered into without knowledge of the lien. |
| Subject to the limitations in this section, the lien provided in |
| this section has the same force, effect and priority as a judgment |
| lien and continues for 10 years from the date of recording unless |
| sooner released or otherwise discharged. The lien may, within the |
| 10-year period, or within 10 years from the date of the last |
| extension of the lien in the manner provided in this subsection, be |
| extended by filing for record in the appropriate office a copy of |
| the notice and, from the time of filing, that lien must be extended |
| for 10 years unless sooner released or otherwise discharged. A |
| person or governmental entity who files a lien on real property |
| pursuant to this subsection shall meet the notice requirements |
| specified in Title 14, section 4651-A, subsection 5. |
