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Ron borrows funds from Suburban Bank secured by Ron s house. Ron defaults on the debt. The bank s options include repossessing the collateral and

Ron borrows funds from Suburban Bank secured by Ron

s house. Ron defaults on the debt. The bank

s options include

repossessing the collateral and disavowing the security interest.

retaining the security interest and pursuing a judicial remedy.

disposing of the collateral in any commercially reasonable manner.

destroying the collateral and collecting the unpaid debt from Ron.

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