Fogle

OPINION AND ORDER

This is an action for a deficiency judgment on a promissory note secured by a preferred ship mortgage on a vessel known as the “Oil Screw Amigo”. On April 15, 1980, defendants, Melvin and Claris Fogle, executed the promissory note in favor of plaintiff, Bank of America (the “Bank”). On April 15, 1981, after defendants had failed to make their semiannual payment, the Bank declared the note in default and demanded full payment of principal, interest, attorney’s fees, and costs. On July 1, 1982, defendants surrendered possession of the vessel to the Bank, which on March 7, 1983, sold it at a private sale. The Bank contends that it complied with the procedures set forth in § 9504(3) of the California Commercial Code (governing private foreclosure sales) and, therefore, is entitled to a deficiency judgment under 46 U.S.C. § 954 for $31,096.67 plus interest, attorney’s fees, and costs. Defendants concede that the Bank complied with the California procedures regarding private sales. However, they insist that federal law ( 28 U.S.C. § 2001 (b)), not state law, governs private foreclosure sales in admiralty. Defendants further contend that the Bank failed to comply with…