BILL NUMBER: AB 1599	CHAPTERED
	BILL TEXT

	CHAPTER  556
	FILED WITH SECRETARY OF STATE  SEPTEMBER 25, 2012
	APPROVED BY GOVERNOR  SEPTEMBER 25, 2012
	PASSED THE SENATE  AUGUST 31, 2012
	PASSED THE ASSEMBLY  AUGUST 31, 2012
	AMENDED IN SENATE  AUGUST 30, 2012
	AMENDED IN SENATE  AUGUST 24, 2012
	AMENDED IN SENATE  AUGUST 6, 2012
	AMENDED IN ASSEMBLY  APRIL 30, 2012
	AMENDED IN ASSEMBLY  APRIL 11, 2012

INTRODUCED BY   Assembly Members Feuer and Fong
   (Principal coauthor: Assembly Member Eng)
   (Coauthors: Assembly Members Cedillo and Dickinson)

                        FEBRUARY 6, 2012

   An act to amend Section 2924f of, to amend and repeal Section 2924
of, and to add Section 2923.3 to, the Civil Code, relating to
mortgages.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1599, Feuer. Mortgages and deeds of trust: foreclosure.
   (1) Existing law requires that, upon a breach of the obligation of
a mortgage or transfer of an interest in property, the mortgagee,
trustee, or beneficiary record a notice of default in the office of
the county recorder where the mortgaged or trust property is situated
and mail the notice of default to the mortgagor or trustor. Existing
law specifies other requirements and procedures for completion of a
foreclosure sale, including recording a notice of sale prior to
exercising a power of sale. Existing law requires, under specified
circumstances, that a summary of mortgage terms be provided to the
borrower in one of 5 specified languages.
   This bill, with respect to residential real property containing no
more than 4 dwelling units, would require a mortgagee, trustee,
beneficiary, or authorized agent to provide to the mortgagor or
trustor attached to a copy of the recorded notice of default and a
copy of the notice of sale a summary of the information required to
be contained in those notices in English and 5 specified languages.
The bill would also require the notice of default and notice of sale
to include a statement, in English and 5 specified languages, that a
summary of the key provisions of the respective notice in English and
5 specified languages is attached. The bill would provide that the
attached summaries are not required to be recorded or published.
Those provisions would become operative on April 1, 2013, or 90 days
following the issuance of summary translations by the Department of
Corporations, whichever occurs later.
   The bill would also require the Department of Corporations to
provide a standard translation of the statement and summaries
described above for a notice of default and a notice of sale,
respectively, in those languages, and to make those documents
available without charge on its Internet Web site. The bill would
specify that any mortgagee, trustee, beneficiary, or authorized agent
who provides the department's translations, in the manner
prescribed, shall be in compliance with that provision.
   (2) This bill would incorporate additional changes to Section 2924
of the Civil Code proposed by AB 278, to be operative only if AB 278
and this bill are both enacted, both bills amend Section 2924 of the
Civil Code and are effective on or before January 1, 2013, and this
bill is enacted last.
   (3) The bill would repeal duplicate provisions of law.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 2923.3 is added to the Civil Code, to read:
   2923.3.  (a) With respect to residential real property containing
no more than four dwelling units, a mortgagee, trustee, beneficiary,
or authorized agent shall provide to the mortgagor or trustor a copy
of the recorded notice of default with an attached separate summary
document of the notice of default in English and the languages
described in Section 1632, as set forth in subdivision (c), and a
copy of the recorded notice of sale with an attached separate summary
document of the information required to be contained in the notice
of sale in English and the languages described in Section 1632, as
set forth in subdivision (d). These summaries are not required to be
recorded or published. This subdivision shall become operative on
April 1, 2013, or 90 days following the issuance of the translations
by the Department of Corporations, pursuant to subdivision (b),
whichever is later.
   (b) (1) The Department of Corporations shall provide a standard
translation of the statement in paragraph (1) of subdivision (c), and
of the summary of the notice of default, as set forth in paragraph
(2) of subdivision (c) in the languages described in Section 1632.
   (2) The Department of Corporations shall provide a standard
translation of the statement in paragraph (1) of subdivision (d), and
of the summary of the notice of sale, as set forth in paragraph (2)
of subdivision (d).
   (3) The department shall make the translations described in
paragraphs (1) and (2) available without charge on its Internet Web
site. Any mortgagee, trustee, beneficiary, or authorized agent who
provides the department's translations in the manner prescribed by
this section shall be in compliance with this section.
   (c) (1) The following statement shall appear in the languages
described in Section 1632 at the beginning of the notice of default:

    NOTE: THERE IS A SUMMARY OF THE INFORMATION IN THIS DOCUMENT
ATTACHED.

   (2) The following summary of key information shall be attached to
the copy of the notice of default provided to the mortgagor or
trustor:


   SUMMARY OF KEY INFORMATION

   The attached notice of default was sent to name of the trustor],
in relation to description of the property that secures the mortgage
or deed of trust in default]. This property may be sold to satisfy
your obligation and any other obligation secured by the deed of trust
or mortgage that is in default. Trustor] has, as described in the
notice of default, breached the mortgage or deed of trust on the
property described above.
   IMPORTANT NOTICE: IF YOUR PROPERTY IS IN FORECLOSURE BECAUSE YOU
ARE BEHIND IN YOUR PAYMENTS, IT MAY BE SOLD WITHOUT ANY COURT ACTION,
and you may have the legal right to bring your account in good
standing by paying all of your past due payments plus permitted costs
and expenses within the time permitted by law for reinstatement of
your account, which is normally five business days prior to the date
set for the sale of your property. No sale date may be set until
approximately 90 days from the date the attached notice of default
may be recorded (which date of recordation appears on the notice).
   This amount is ____________ as of ___(date)____________and will
increase until your account becomes current.
   While your property is in foreclosure, you still must pay other
obligations (such as insurance and taxes) required by your note and
deed of trust or mortgage. If you fail to make future payments on the
loan, pay taxes on the property, provide insurance on the property,
or pay other obligations as required in the note and deed of trust or
mortgage, the beneficiary or mortgagee may insist that you do so in
order to reinstate your account in good standing. In addition, the
beneficiary or mortgagee may require as a condition to reinstatement
that you provide reliable written evidence that you paid all senior
liens, property taxes, and hazard insurance premiums.
   Upon your written request, the beneficiary or mortgagee will give
you a written itemization of the entire amount you must pay. You may
not have to pay the entire unpaid portion of your account, even
though full payment was demanded, but you must pay all amounts in
default at the time payment is made. However, you and your
beneficiary or mortgagee may mutually agree in writing prior to the
time the notice of sale is posted (which may not be earlier than
three months after this notice of default is recorded) to, among
other things, (1) provide additional time in which to cure the
default by transfer of the property or otherwise; or (2) establish a
schedule of payments in order to cure your default; or both (1) and
(2).
   Following the expiration of the time period referred to in the
first paragraph of this notice, unless the obligation being
foreclosed upon or a separate written agreement between you and your
creditor permits a longer period, you have only the legal right to
stop the sale of your property by paying the entire amount demanded
by your creditor.
   To find out the amount you must pay, or to arrange for payment to
stop the foreclosure, or if your property is in foreclosure for any
other reason, contact:
   ____________________________________
   (Name of beneficiary or mortgagee)
    ____________________________________
   (Mailing address)
   ____________________________________
   (Telephone)
   If you have any questions, you should contact a lawyer or the
governmental agency which may have insured your loan.
   Notwithstanding the fact that your property is in foreclosure, you
may offer your property for sale, provided the sale is concluded
prior to the conclusion of the foreclosure.
   Remember, YOU MAY LOSE LEGAL RIGHTS IF YOU DO NOT TAKE PROMPT
ACTION.
   If you would like additional copies of this summary, you may
obtain them by calling insert telephone number].
   (d) (1) The following statement shall appear in the languages
described in Section 1632 at the beginning of the notice of sale:

   NOTE: THERE IS A SUMMARY OF THE INFORMATION IN THIS DOCUMENT
ATTACHED.

   (2) The following summary of key information shall be attached to
the copy of the notice of sale provided to the mortgagor or trustor:


   SUMMARY OF KEY INFORMATION

   The attached notice of sale was sent to trustor], in relation to
description of the property that secures the mortgage or deed of
trust in default].
   YOU ARE IN DEFAULT UNDER A (Deed of trust or mortgage) DATED ____.
UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A
PUBLIC SALE.
   IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PROCEEDING AGAINST
YOU, YOU SHOULD CONTACT A LAWYER.
   The total amount due in the notice of sale is ____.
   Your property is scheduled to be sold on insert date and time of
sale] at insert location of sale].
   However, the sale date shown on the attached notice of sale may be
postponed one or more times by the mortgagee, beneficiary, trustee,
or a court, pursuant to Section 2924g of the California Civil Code.
The law requires that information about trustee sale postponements be
made available to you and to the public, as a courtesy to those not
present at the sale. If you wish to learn whether your sale date has
been postponed, and, if applicable, the rescheduled time and date for
the sale of this property, you may call telephone number for
information regarding the trustee's sale] or visit this Internet Web
site Internet Web site address for information regarding the sale of
this property], using the file number assigned to this case case file
number]. Information about postponements that are very short in
duration or that occur close in time to the scheduled sale may not
immediately be reflected in the telephone information or on the
Internet Web site. The best way to verify postponement information is
to attend the scheduled sale.
   If you would like additional copies of this summary, you may
obtain them by calling insert telephone number].
   (e) Failure to provide these summaries to the mortgagor or trustor
shall have the same effect as if the notice of default or notice of
sale were incomplete or not provided.
   (f) This section sets forth a requirement for translation in
languages other than English, and a document complying with the
provisions of this section may be recorded pursuant to subdivision
(b) of Section 27293 of the Government Code. A document that complies
with this section shall not be rejected for recordation on the
ground that some part of the document is in a language other than
English.

  SEC. 2.  Section 2924 of the Civil Code, as amended by Section 1 of
Chapter 180 of the Statutes of 2010, is amended to read:
   2924.  (a) Every transfer of an interest in property, other than
in trust, made only as a security for the performance of another act,
is to be deemed a mortgage, except when in the case of personal
property it is accompanied by actual change of possession, in which
case it is to be deemed a pledge. Where, by a mortgage created after
July 27, 1917, of any estate in real property, other than an estate
at will or for years, less than two, or in any transfer in trust made
after July 27, 1917, of a like estate to secure the performance of
an obligation, a power of sale is conferred upon the mortgagee,
trustee, or any other person, to be exercised after a breach of the
obligation for which that mortgage or transfer is a security, the
power shall not be exercised except where the mortgage or transfer is
made pursuant to an order, judgment, or decree of a court of record,
or to secure the payment of bonds or other evidences of indebtedness
authorized or permitted to be issued by the Commissioner of
Corporations, or is made by a public utility subject to the
provisions of the Public Utilities Act, until all of the following
apply:
   (1) The trustee, mortgagee, or beneficiary, or any of their
authorized agents shall first file for record, in the office of the
recorder of each county wherein the mortgaged or trust property or
some part or parcel thereof is situated, a notice of default. That
notice of default shall include all of the following:
   (A) A statement identifying the mortgage or deed of trust by
stating the name or names of the trustor or trustors and giving the
book and page, or instrument number, if applicable, where the
mortgage or deed of trust is recorded or a description of the
mortgaged or trust property.
   (B) A statement that a breach of the obligation for which the
mortgage or transfer in trust is security has occurred.
   (C) A statement setting forth the nature of each breach actually
known to the beneficiary and of his or her election to sell or cause
to be sold the property to satisfy that obligation and any other
obligation secured by the deed of trust or mortgage that is in
default.
   (D) If the default is curable pursuant to Section 2924c, the
statement specified in paragraph (1) of subdivision (b) of Section
2924c.
   (2) Not less than three months shall elapse from the filing of the
notice of default.
   (3) Except as provided in paragraph (4), after the lapse of the
three months described in paragraph (2), the mortgagee, trustee, or
other person authorized to take the sale shall give notice of sale,
stating the time and place thereof, in the manner and for a time not
less than that set forth in Section 2924f.
   (4) Notwithstanding paragraph (3), the mortgagee, trustee, or
other person authorized to take sale may file a notice of sale
pursuant to Section 2924f up to five days before the lapse of the
three-month period described in paragraph (2), provided that the date
of sale is no earlier than three months and 20 days after the filing
of the notice of default.
   (b) In performing acts required by this article, the trustee shall
incur no liability for any good faith error resulting from reliance
on information provided in good faith by the beneficiary regarding
the nature and the amount of the default under the secured
obligation, deed of trust, or mortgage. In performing the acts
required by this article, a trustee shall not be subject to Title
1.6c (commencing with Section 1788) of Part 4.
   (c) A recital in the deed executed pursuant to the power of sale
of compliance with all requirements of law regarding the mailing of
copies of notices or the publication of a copy of the notice of
default or the personal delivery of the copy of the notice of default
or the posting of copies of the notice of sale or the publication of
a copy thereof shall constitute prima facie evidence of compliance
with these requirements and conclusive evidence thereof in favor of
bona fide purchasers and encumbrancers for value and without notice.
   (d) All of the following shall constitute privileged
communications pursuant to Section 47:
   (1) The mailing, publication, and delivery of notices as required
by this section.
   (2) Performance of the procedures set forth in this article.
   (3) Performance of the functions and procedures set forth in this
article if those functions and procedures are necessary to carry out
the duties described in Sections 729.040, 729.050, and 729.080 of the
Code of Civil Procedure.
   (e) There is a rebuttable presumption that the beneficiary
actually knew of all unpaid loan payments on the obligation owed to
the beneficiary and secured by the deed of trust or mortgage subject
to the notice of default. However, the failure to include an actually
known default shall not invalidate the notice of sale and the
beneficiary shall not be precluded from asserting a claim to this
omitted default or defaults in a separate notice of default.
   (f) This section shall become operative on January 1, 2011.
   (g) With respect to residential real property containing no more
than four dwelling units, a separate document containing a summary of
the notice of default information in English and the languages
described in Section 1632 shall be attached to the notice of default
provided to the mortgagor or trustor pursuant to Section 2923.3.
  SEC. 2.5.  Section 2924 of the Civil Code, as amended by Section 1
of Chapter 180 of the Statutes of 2010, is amended to read:
   2924.  (a) Every transfer of an interest in property, other than
in trust, made only as a security for the performance of another act,
is to be deemed a mortgage, except when in the case of personal
property it is accompanied by actual change of possession, in which
case it is to be deemed a pledge. Where, by a mortgage created after
July 27, 1917, of any estate in real property, other than an estate
at will or for years, less than two, or in any transfer in trust made
after July 27, 1917, of a like estate to secure the performance of
an obligation, a power of sale is conferred upon the mortgagee,
trustee, or any other person, to be exercised after a breach of the
obligation for which that mortgage or transfer is a security, the
power shall not be exercised except where the mortgage or transfer is
made pursuant to an order, judgment, or decree of a court of record,
or to secure the payment of bonds or other evidences of indebtedness
authorized or permitted to be issued by the Commissioner of
Corporations, or is made by a public utility subject to the
provisions of the Public Utilities Act, until all of the following
apply:
   (1) The trustee, mortgagee, or beneficiary, or any of their
authorized agents shall first file for record, in the office of the
recorder of each county wherein the mortgaged or trust property or
some part or parcel thereof is situated, a notice of default. That
notice of default shall include all of the following:
   (A) A statement identifying the mortgage or deed of trust by
stating the name or names of the trustor or trustors and giving the
book and page, or instrument number, if applicable, where the
mortgage or deed of trust is recorded or a description of the
mortgaged or trust property.
   (B) A statement that a breach of the obligation for which the
mortgage or transfer in trust is security has occurred.
   (C) A statement setting forth the nature of each breach actually
known to the beneficiary and of his or her election to sell or cause
to be sold the property to satisfy that obligation and any other
obligation secured by the deed of trust or mortgage that is in
default.
   (D) If the default is curable pursuant to Section 2924c, the
statement specified in paragraph (1) of subdivision (b) of Section
2924c.
   (2) Not less than three months shall elapse from the filing of the
notice of default.
   (3) Except as provided in paragraph (4), after the lapse of the
three months described in paragraph (2), the mortgagee, trustee, or
other person authorized to take the sale shall give notice of sale,
stating the time and place thereof, in the manner and for a time not
less than that set forth in Section 2924f.
   (4) Notwithstanding paragraph (3), the mortgagee, trustee, or
other person authorized to take sale may record a notice of sale
pursuant to Section 2924f up to five days before the lapse of the
three-month period described in paragraph (2), provided that the date
of sale is no earlier than three months and 20 days after the
recording of the notice of default.
   (5) Until January 1, 2018, whenever a sale is postponed for a
period of at least 10 business days pursuant to Section 2924g, a
mortgagee, beneficiary, or authorized agent shall provide written
notice to a borrower regarding the new sale date and time, within
five business days following the postponement. Information provided
pursuant to this paragraph shall not constitute the public
declaration required by subdivision (d) of Section 2924g. Failure to
comply with this paragraph shall not invalidate any sale that would
otherwise be valid under Section 2924f. This paragraph shall be
inoperative on January 1, 2018.
   (6) No entity shall record or cause a notice of default to be
recorded or otherwise initiate the foreclosure process unless it is
the holder of the beneficial interest under the mortgage or deed of
trust, the original trustee or the substituted trustee under the deed
of trust, or the designated agent of the holder of the beneficial
interest. No agent of the holder of the beneficial interest under the
mortgage or deed of trust, original trustee or substituted trustee
under the deed of trust may record a notice of default or otherwise
commence the foreclosure process except when acting within the scope
of authority designated by the holder of the beneficial interest.
   (b) In performing acts required by this article, the trustee shall
incur no liability for any good faith error resulting from reliance
on information provided in good faith by the beneficiary regarding
the nature and the amount of the default under the secured
obligation, deed of trust, or mortgage. In performing the acts
required by this article, a trustee shall not be subject to Title
1.6c (commencing with Section 1788) of Part 4.
   (c) A recital in the deed executed pursuant to the power of sale
of compliance with all requirements of law regarding the mailing of
copies of notices or the publication of a copy of the notice of
default or the personal delivery of the copy of the notice of default
or the posting of copies of the notice of sale or the publication of
a copy thereof shall constitute prima facie evidence of compliance
with these requirements and conclusive evidence thereof in favor of
bona fide purchasers and encumbrancers for value and without notice.
   (d) All of the following shall constitute privileged
communications pursuant to Section 47:
   (1) The mailing, publication, and delivery of notices as required
by this section.
   (2) Performance of the procedures set forth in this article.
   (3) Performance of the functions and procedures set forth in this
article if those functions and procedures are necessary to carry out
the duties described in Sections 729.040, 729.050, and 729.080 of the
Code of Civil Procedure.
   (e) There is a rebuttable presumption that the beneficiary
actually knew of all unpaid loan payments on the obligation owed to
the beneficiary and secured by the deed of trust or mortgage subject
to the notice of default. However, the failure to include an actually
known default shall not invalidate the notice of sale and the
beneficiary shall not be precluded from asserting a claim to this
omitted default or defaults in a separate notice of default.
   (f) With respect to residential real property containing no more
than four dwelling units, a separate document containing a summary of
the notice of default information in English and the languages
described in Section 1632 shall be attached to the notice of default
provided to the mortgagor or trustor pursuant to Section 2923.3.
  SEC. 3.  Section 2924 of the Civil Code, as amended by Section 2 of
Chapter 180 of the Statutes of 2010, is repealed.
  SEC. 4.  Section 2924f of the Civil Code, as amended by Section 2
of Chapter 229 of the Statutes of 2011, is amended to read:
   2924f.  (a) As used in this section and Sections 2924g and 2924h,
"property" means real property or a leasehold estate therein, and
"calendar week" means Monday through Saturday, inclusive.
   (b) (1) Except as provided in subdivision (c), before any sale of
property can be made under the power of sale contained in any deed of
trust or mortgage, or any resale resulting from a rescission for a
failure of consideration pursuant to subdivision (c) of Section
2924h, notice of the sale thereof shall be given by posting a written
notice of the time of sale and of the street address and the
specific place at the street address where the sale will be held, and
describing the property to be sold, at least 20 days before the date
of sale in one public place in the city where the property is to be
sold, if the property is to be sold in a city, or, if not, then in
one public place in the judicial district in which the property is to
be sold, and publishing a copy once a week for three consecutive
calendar weeks.
   (2) The first publication to be at least 20 days before the date
of sale, in a newspaper of general circulation published in the city
in which the property or some part thereof is situated, if any part
thereof is situated in a city, if not, then in a newspaper of general
circulation published in the judicial district in which the property
or some part thereof is situated, or in case no newspaper of general
circulation is published in the city or judicial district, as the
case may be, in a newspaper of general circulation published in the
county in which the property or some part thereof is situated, or in
case no newspaper of general circulation is published in the city or
judicial district or county, as the case may be, in a newspaper of
general circulation published in the county in this state that is
contiguous to the county in which the property or some part thereof
is situated and has, by comparison with all similarly contiguous
counties, the highest population based upon total county population
as determined by the most recent federal decennial census published
by the Bureau of the Census.
   (3) A copy of the notice of sale shall also be posted in a
conspicuous place on the property to be sold at least 20 days before
the date of sale, where possible and where not restricted for any
reason. If the property is a single-family residence the posting
shall be on a door of the residence, but, if not possible or
restricted, then the notice shall be posted in a conspicuous place on
the property; however, if access is denied because a common entrance
to the property is restricted by a guard gate or similar impediment,
the property may be posted at that guard gate or similar impediment
to any development community.
   (4) The notice of sale shall conform to the minimum requirements
of Section 6043 of the Government Code and be recorded with the
county recorder of the county in which the property or some part
thereof is situated at least 20 days prior to the date of sale.
   (5) The notice of sale shall contain the name, street address in
this state, which may reflect an agent of the trustee, and either a
toll-free telephone number or telephone number in this state of the
trustee, and the name of the original trustor, and also shall contain
the statement required by paragraph (3) of subdivision (c). In
addition to any other description of the property, the notice shall
describe the property by giving its street address, if any, or other
common designation, if any, and a county assessor's parcel number;
but if the property has no street address or other common
designation, the notice shall contain a legal description of the
property, the name and address of the beneficiary at whose request
the sale is to be conducted, and a statement that directions may be
obtained pursuant to a written request submitted to the beneficiary
within 10 days from the first publication of the notice. Directions
shall be deemed reasonably sufficient to locate the property if
information as to the location of the property is given by reference
to the direction and approximate distance from the nearest
crossroads, frontage road, or access road. If a legal description or
a county assessor's parcel number and either a street address or
another common designation of the property is given, the validity of
the notice and the validity of the sale shall not be affected by the
fact that the street address, other common designation, name and
address of the beneficiary, or the directions obtained therefrom are
erroneous or that the street address, other common designation, name
and address of the beneficiary, or directions obtained therefrom are
omitted.
   (6) The term "newspaper of general circulation," as used in this
section, has the same meaning as defined in Article 1 (commencing
with Section 6000) of Chapter 1 of Division 7 of Title 1 of the
Government Code.
   (7) The notice of sale shall contain a statement of the total
amount of the unpaid balance of the obligation secured by the
property to be sold and reasonably estimated costs, expenses,
advances at the time of the initial publication of the notice of
sale, and, if republished pursuant to a cancellation of a cash
equivalent pursuant to subdivision (d) of Section 2924h, a reference
of that fact; provided, that the trustee shall incur no liability for
any good faith error in stating the proper amount, including any
amount provided in good faith by or on behalf of the beneficiary. An
inaccurate statement of this amount shall not affect the validity of
any sale to a bona fide purchaser for value, nor shall the failure to
post the notice of sale on a door as provided by this subdivision
affect the validity of any sale to a bona fide purchaser for value.
                 (8) (A) On and after April 1, 2012, if the deed of
trust or mortgage containing a power of sale is secured by real
property containing from one to four single-family residences, the
notice of sale shall contain substantially the following language, in
addition to the language required pursuant to paragraphs (1) to (7),
inclusive:

   NOTICE TO POTENTIAL BIDDERS: If you are considering bidding on
this property lien, you should understand that there are risks
involved in bidding at a trustee auction. You will be bidding on a
lien, not on the property itself. Placing the highest bid at a
trustee auction does not automatically entitle you to free and clear
ownership of the property. You should also be aware that the lien
being auctioned off may be a junior lien. If you are the highest
bidder at the auction, you are or may be responsible for paying off
all liens senior to the lien being auctioned off, before you can
receive clear title to the property. You are encouraged to
investigate the existence, priority, and size of outstanding liens
that may exist on this property by contacting the county recorder's
office or a title insurance company, either of which may charge you a
fee for this information. If you consult either of these resources,
you should be aware that the same lender may hold more than one
mortgage or deed of trust on the property.

   NOTICE TO PROPERTY OWNER: The sale date shown on this notice of
sale may be postponed one or more times by the mortgagee,
beneficiary, trustee, or a court, pursuant to Section 2924g of the
California Civil Code. The law requires that information about
trustee sale postponements be made available to you and to the
public, as a courtesy to those not present at the sale. If you wish
to learn whether your sale date has been postponed, and, if
applicable, the rescheduled time and date for the sale of this
property, you may call telephone number for information regarding the
trustee's sale] or visit this Internet Web site Internet Web site
address for information regarding the sale of this property], using
the file number assigned to this case case file number]. Information
about postponements that are very short in duration or that occur
close in time to the scheduled sale may not immediately be reflected
in the telephone information or on the Internet Web site. The best
way to verify postponement information is to attend the scheduled
sale.

   (B) A mortgagee, beneficiary, trustee, or authorized agent shall
make a good faith effort to provide up-to-date information regarding
sale dates and postponements to persons who wish this information.
This information shall be made available free of charge. It may be
made available via an Internet Web site, a telephone recording that
is accessible 24 hours a day, seven days a week, or through any other
means that allows 24 hours a day, seven days a week, no-cost access
to updated information. A disruption of any of these methods of
providing sale date and postponement information to allow for
reasonable maintenance or due to a service outage shall not be deemed
to be a violation of the good faith standard.
   (C) Except as provided in subparagraph (B), nothing in the wording
of the notices required by subparagraph (A) is intended to modify or
create any substantive rights or obligations for any person
providing, or specified in, either of the required notices. Failure
to comply with subparagraph (A) or (B) shall not invalidate any sale
that would otherwise be valid under Section 2924f.
   (D) Information provided pursuant to subparagraph (A) does not
constitute the public declaration required by subdivision (d) of
Section 2924g.
   (9) If the sale of the property is to be a unified sale as
provided in subparagraph (B) of paragraph (1) of subdivision (a) of
Section 9604 of the Commercial Code, the notice of sale shall also
contain a description of the personal property or fixtures to be
sold. In the case where it is contemplated that all of the personal
property or fixtures are to be sold, the description in the notice of
the personal property or fixtures shall be sufficient if it is the
same as the description of the personal property or fixtures
contained in the agreement creating the security interest in or
encumbrance on the personal property or fixtures or the filed
financing statement relating to the personal property or fixtures. In
all other cases, the description in the notice shall be sufficient
if it would be a sufficient description of the personal property or
fixtures under Section 9108 of the Commercial Code. Inclusion of a
reference to or a description of personal property or fixtures in a
notice of sale hereunder shall not constitute an election by the
secured party to conduct a unified sale pursuant to subparagraph (B)
of paragraph (1) of subdivision (a) of Section 9604 of the Commercial
Code, shall not obligate the secured party to conduct a unified sale
pursuant to subparagraph (B) of paragraph (1) of subdivision (a) of
Section 9604 of the Commercial Code, and in no way shall render
defective or noncomplying either that notice or a sale pursuant to
that notice by reason of the fact that the sale includes none or less
than all of the personal property or fixtures referred to or
described in the notice. This paragraph shall not otherwise affect
the obligations or duties of a secured party under the Commercial
Code.
   (c) (1) This subdivision applies only to deeds of trust or
mortgages which contain a power of sale and which are secured by real
property containing a single-family, owner-occupied residence, where
the obligation secured by the deed of trust or mortgage is contained
in a contract for goods or services subject to the provisions of the
Unruh Act (Chapter 1 (commencing with Section 1801) of Title 2 of
Part 4 of Division 3).
   (2) Except as otherwise expressly set forth in this subdivision,
all other provisions of law relating to the exercise of a power of
sale shall govern the exercise of a power of sale contained in a deed
of trust or mortgage described in paragraph (1).
   (3) If any default of the obligation secured by a deed of trust or
mortgage described in paragraph (1) has not been cured within 30
days after the recordation of the notice of default, the trustee or
mortgagee shall mail to the trustor or mortgagor, at his or her last
known address, a copy of the following statement:
YOU ARE IN DEFAULT UNDER A
_______________________________________________,
            (Deed of trust or mortgage)
DATED ____. UNLESS YOU TAKE ACTION TO PROTECT
YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE.
IF
YOU NEED AN EXPLANATION OF THE NATURE OF THE
PROCEEDING AGAINST YOU, YOU SHOULD CONTACT A
LAWYER.


   (4) All sales of real property pursuant to a power of sale
contained in any deed of trust or mortgage described in paragraph (1)
shall be held in the county where the residence is located and shall
be made to the person making the highest offer. The trustee may
receive offers during the 10-day period immediately prior to the date
of sale and if any offer is accepted in writing by both the trustor
or mortgagor and the beneficiary or mortgagee prior to the time set
for sale, the sale shall be postponed to a date certain and prior to
which the property may be conveyed by the trustor to the person
making the offer according to its terms. The offer is revocable until
accepted. The performance of the offer, following acceptance,
according to its terms, by a conveyance of the property to the
offeror, shall operate to terminate any further proceeding under the
notice of sale and it shall be deemed revoked.
   (5) In addition to the trustee fee pursuant to Section 2924c, the
trustee or mortgagee pursuant to a deed of trust or mortgage subject
to this subdivision shall be entitled to charge an additional fee of
fifty dollars ($50).
   (6) This subdivision applies only to property on which notices of
default were filed on or after the effective date of this
subdivision.
   (d) With respect to residential real property containing no more
than four dwelling units, a separate document containing a summary of
the notice of sale information in English and the languages
described in Section 1632 shall be attached to the notice of sale
provided to the mortgagor or trustor pursuant to Section 2923.3.
  SEC. 5.  Section 2.5 of this bill incorporates amendments to
Section 2924 of the Civil Code proposed by both this bill and
Assembly Bill 278. It shall only become operative if (1) both bills
are enacted and become effective on or before January 1, 2013, (2)
each bill amends Section 2924 of the Civil Code, and (3) this bill is
enacted after Assembly Bill 278, in which case Section 2 of this
bill shall not become operative.