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(a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
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(b) Requirements for redemption. To redeem collateral, a person shall tender:
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(1) fulfillment of all obligations secured by the collateral; and
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(2) the reasonable expenses and attorney’s fees described in § 9–615(a)(1).
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(c) When redemption may occur. A redemption may occur at any time before a secured party:
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(1) has collected collateral under § 9–607;
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(2) has disposed of collateral or entered into a contract for its disposition under § 9–610; or
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(3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 9–622.
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