Ditto, the binding is solid color all the way thru so a little sanding won't change the color. But I like the suggestion of taping it off so you don't hit at all. Most of your sanding is likely to be on the back part of the neck but don't go any deeper than you need. After, I suggest tungue oil to seal and protect it. One or two coats, soak in over night and then rub it down with 0000
steel wool. Also a good time to douse the fretboard in some conditioner or linseed oil and buff that with the same steel wool. I wear rubber gloves while doing this to keep my hands clean.