1. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

2. To redeem collateral, a person shall tender: a. Fulfillment of all obligations secured by the collateral; and b. The reasonable expenses and attorney's fees described in subdivision a of subsection 1 of section 41-09-111.

3. A redemption may occur at any time before a secured party: a. Has collected collateral under section 41-09-104; b. Has disposed of collateral or entered into a contract for its disposition under section 41-09-107; or c. Has accepted collateral in full or partial satisfaction of the obligation it secures under section 41-09-117.