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

    (2) To redeem collateral, a person shall tender both of the following:

    (a) Fulfillment of all obligations secured by the collateral.

    (b) The reasonable expenses and attorney fees described in section 9615(1)(a).

    (3) A redemption may occur at any time before a secured party has done 1 of the following:

    (a) Has collected collateral under section 9607.

    (b) Has disposed of collateral or entered into a contract for its disposition under section 9610.

    (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under section 9622.