A businessman owned a hotel, subject to a mortgage securing a $1,000,000 debt the businessman owed to Bank One Bank One's mortgage was properly recorded. The businessman needed to renovate the hotel and borrowed $500,000 from Bank Two for the renovation. The businessman provided Bank Two with a mortgage on the hotel to secure the money he borrowed from Bank Two. The mortgage was properly recorded The business subsequently defaulted on the loan from Bank One, and Bank One began a power of sale foreclosure, providing notice of its intent to sell the hotel as permitted in its mortgage. At the properly noticed foreclosure sale, a third party purchased the hotel for $1,200,000 How should the foreclosure sales proceeds be distributed? Answers A-C A Bank One should receive $1,000,000 and Bank Two should receive $200,000 B Bank One should receive $800,000 and Bank Two should receive $400,000 Bank One should receive $600,000. Bank Two should receive $500,000, and the businessman should receive $100,000