1.Possession rendering equipment unusable disposition on debtors premises.After default, a secured party: a.may take possession of the collateral; and b.without removal, may render equipment unusable and dispose of collateral on a debtors premises under section 554.9610. 2.Judicial and nonjudicial process.A secured party may proceed under subsection 1: a.pursuant to judicial process; or b.without judicial process, if it proceeds without breach of the peace. 3.Assembly of collateral.If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, addresses the disposition of collateral after default. It grants secured parties the authority to sell, lease, license, or otherwise dispose of the collateral in its present condition or after reasonable preparation or processing. The disposition must be commercially reasonable, considering factors such as method, manner, time, place, and terms. The secured party can choose public or private proceedings, one or more contracts, and sell the collateral as a unit or in parcels.

This legal document, governed by the Iowa Code under the Uniform Commercial Code, pertains to the notification requirements before the disposition of collateral. It applies to secured parties, debtors, secondary obligors, and other persons with an interest in the collateral. The document defines the ’notification date’ and requires a secured party to send an authenticated notification of disposition to the debtor, any secondary obligor, and other specified parties. However, there are exemptions to the notification requirement for perishable collateral, collateral that threatens to decline speedily in value, or collateral of a type customarily sold on a recognized market.

1.Reasonable time is question of fact.Except as otherwise provided in subsection 2, whether a notification is sent within a reasonable time is a question of fact. 2.Ten-day period sufficient in nonconsumer transaction.In a transaction other than a consumer transaction, a notification of disposition sent after default and ten days or more before the earliest time of disposition set forth in the notification is sent within a reasonable time before the disposition.

This legal document governs the contents and form of notification before the disposition of collateral in non-consumer-goods transactions. The document specifies the necessary information that must be included in the notification, such as describing the debtor and the secured party, providing details about the collateral, stating the method of intended disposition, mentioning the debtor’s entitlement to an accounting of the unpaid indebtedness, and specifying the time and place of a public disposition or the time after which any other disposition is to be made.

This legal document governs the contents and form of notification required before the disposition of collateral in consumer-goods transactions. It applies to parties involved in such transactions. The document specifies the information that must be included in the notification, such as details about the collateral, liability for deficiency, contact information for redemption of collateral, and contact information for additional information about the disposition and the obligation secured. The document provides a suggested form of notification that includes the necessary information.

This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the application of proceeds of disposition, liability for deficiency, and the right to surplus in secured transactions. It outlines the order in which cash proceeds from disposition should be applied, including expenses, satisfaction of obligations secured by the security interest or agricultural lien, and satisfaction of obligations secured by subordinate security interests or liens. The document also addresses the application of noncash proceeds, surplus or deficiency in dispositions, and the calculation of surplus or deficiency in dispositions to related parties.

This legal document, part of the Iowa Code’s Uniform Commercial Code, governs the calculation of surplus or deficiency in consumer-goods transactions. It applies to secured parties, debtors, and consumer obligors involved in such transactions. The document defines ‘Explanation’ as a writing that states the amount of the surplus or deficiency, provides an explanation of how it was calculated, mentions the possibility of future debits, credits, charges, and provides contact information for additional transaction-related information.

1.Effects of disposition.A secured partys disposition of collateral after default: a.transfers to a transferee for value all of the debtors rights in the collateral; b.discharges the security interest under which the disposition is made; and c.discharges any subordinate security interest or other subordinate lien. 2.Rights of good-faith transferee.A transferee that acts in good faith takes free of the rights and interests described in subsection 1, even if the secured party fails to comply with this Article or the requirements of any judicial proceeding.

1.Rights and duties of secondary obligor.A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: a.receives an assignment of a secured obligation from the secured party; b.receives a transfer of collateral from the secured party and agrees to accept the rights and assume the duties of the secured party; or c.is subrogated to the rights of a secured party with respect to collateral.