Bank of America loans $15,000 to Martinez to buy a Range Rover, which is used as collateral to secure the loan. Martinez has paid 57,500 of the loan, when she defaults. Bank of America could repossess and keep the car, but

the bank does not want it. Which of the following contains the lawful alternatives?

i.When collateral is consumer goods with a Purchase Money Security Interest, and the debtor has paid 50 percent or more of the debt or the purchase price, the debtor can demand the creditor to keep the collateral for a further responsible time of three months to pay off the debt.

ii.When collateral is consumer goods with a Purchase Money Security Interest, and the debtor has pald less than 60 percent of the debt or the purchase price, the creditor can dispose of the collateral in a commercially reasonable manner, which generally requires notice of the place, time, and manner of sale.

iii.A debtor cannot redeem the collateral tenn penormance On all Orthe Coledtions secured Dy i once tne Creditor decides to dispose

a Only I and iii

b. Only I and ii

c. Only ii

d. Only ii and iii