Iowa Code § 554.9623: Right to redeem collateral.

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

2. To redeem collateral, a person shall tender:

a. fulfillment of all obligations secured by the collateral; and

b. the reasonable expenses and attorney’s fees described in section 554.9615, subsection 1, paragraph “a”.

3. A redemption may occur at any time before a secured party:

a. has collected collateral under section 554.9607;

b. has disposed of collateral or entered into a contract for its disposition under section 554.9610; or

c. has accepted collateral in full or partial satisfaction of the obligation it secures under section 554.9622.