Section 9--502. Contents of Financing Statement; Record of Mortgage as

Financing Statement; Time of Filing Financing

Statement; Contents of Cooperative Addendum.

(a) Sufficiency of financing statement. Subject to subsection (b), a
financing statement is sufficient only if it:

(1) provides the name of the debtor;

(2) provides the name of the secured party or a representative of

the secured party;

(3) indicates the collateral covered by the financing statement;

and

(4) in the case of a cooperative interest, indicates the number

or other designation and the street address of the

cooperative unit.

(b) Real-property-related financing statements. Except as otherwise
provided in Section 9--501(b), to be sufficient, a financing statement
that covers as-extracted collateral or timber to be cut, or which is
filed as a fixture filing and covers goods that are or are to become
fixtures, or, unless a cooperative addendum is filed, which covers a
cooperative interest, must satisfy subsection (a) and also:

(1) indicate that it covers this type of collateral;

(2) indicate that it is to be filed in the real property records;

(3) provide a description of the real property to which the

collateral is related, including the location of the real

estate by reference to a book and page number in a deed or

mortgage index maintained in the county clerk's office in the

county where the property is situate or by street and number

and town or city, or, if the real estate is in the city of

New York, by county, except that if the real estate is in the

city of New York or counties of Nassau or Onondaga, where the

block system of recording or registering and indexing

conveyances is in use, the statement must also specify the

block and lot number in which the real estate is situated;

and

(4) if the debtor does not have an interest of record in the real

property, provide the name of a record owner.

(c) Record of mortgage as financing statement. A record of a mortgage
is effective, from the date of recording, as a financing statement filed
as a fixture filing or as a financing statement covering as-extracted
collateral or timber to be cut only if:

(1) the record indicates the goods or accounts that it covers;

(2) the goods are or are to become fixtures related to the real

property described in the record or the collateral is related

to the real property described in the record and is

as-extracted collateral or timber to be cut;

(3) the record satisfies the requirements for a financing

statement in this section, but:

(A) the record need not indicate that it is to be filed in

the real property records; and

(B) the record sufficiently provides the name of a debtor who

is an individual if it provides the individual name of

the debtor or the surname and first personal name of the

debtor, even if the debtor is an individual to whom

Section 9--503(a)(4) applies; and

(4) the record is duly recorded.

(d) Filing before security agreement or attachment. A financing
statement may be filed before a security agreement is made or a security
interest otherwise attaches.

(e) Contents of cooperative addendum. A cooperative addendum is
sufficient only if it satisfies subsection (a) and also:

(1) if not filed simultaneously with the initial financing

statement, identifies, by its file number, the initial

financing statement to which the addendum relates;

(2) indicates the street address of the cooperative unit;

(3) indicates the county in which the cooperative unit is

located;

(4) indicates the city, town, or village in which the cooperative

unit is located;

(5) indicates the real property tax designation associated with

the real property in which the cooperative unit is located as

assigned by the local real property tax assessing authority;

and

(6) indicates the name of the cooperative organization.