On May 1, 2018, Cynthia Hendrix Bought Her Home and First

On May 1, 2018, Cynthia Hendrix bought her home and First Bank recorded its mortgage. On June 24, 2020, Cynthia sold her home to Stanton Gulbrandsen for $250,000. At that time, Cynthia's mortgage was $225,000. Stanton assumed Cynthia's mortgage and gave Second Bank a second mortgage for $225,000. Second Bank did not record its mortgage. On October 12, 2020, Stanton sold the home to Derek Bolger for $275,000. Bolger took the property subject to the previous mortgages and executed a $275,000 mortgage to Third Bank. Third Bank recorded its mortgage on October 18, 2020. Third Bank knew of the Second Bank mortgage.
-Assume Derek defaults on his loan, if the property is sold for $200,000 and the mortgage balances are as follows, how much does First Bank get?
First - $215,000
Second - $200,000
Third - $272,000

A) $200,000
B) $195,000
C) One-third of $200,000
D) One-half of $200,000 because Second Bank didn't record