If a financing statement lapses, what happens to the security interest?

Question $21$ options:

A financing statement cannot lapse. It is durable and lasts for perpetuity.

The security interest that had been perfected becomes unperfected and a purchaser for value can take the property that was used as collateral as if the security interest had never been perfected.

The security interest will become unperfected, however the creditor whose financing statement lapsed will have $6$ months after the lapse to file paperwork and redeem their security interest even if the property that was used as collateral had been sold to another purchaser for value or used as collateral for another lender.

The security interest will be placed in a trust for the state unless the original creditor pays a redemption fee to the state.