No.9l?frI7 Cap. 14:35 Movesm PnopnRry Srcurury lurnnssrs (b) (c) (d) spec$ the asrount owed as of the date the proposal is sent, including interest and the costof enforcement, ard the amount of theobligation that is proposedto be satisfied by acquiring the collateral, whetherthe secu{€d creditc propoces to acquirs the collat€ral in total or partial satisfaction of the secured obligation; tb colateral,refer b tbe right toredeem the coltateral in paragraph 32; dessyibe state the date after which the mllateral as provided will be acquired by the secured ctedits. (4) The secured creditor acquires the collateral- (a) in the case of a pra,posal for the acquisition of the collateral in full satisfaction of the secured obligation, unless the secured creditu receives objectionin uniting from anyperson entitled toreceive such a proposal wirhin fifteen working days after the proposal is sent to that person; and an O) in the case of a proposal for the acquisition of the collateral in partial satisfaction of ttre secured obligation , only if th secured creditor receives the afflnnative consent of each addressee of the proposal ia siting witbin fifteen working days after the proposal is sent to that pe$ort. The debor may make a proposal in accordance with subparagaph (l) the secured creditor accepts it, tbe secured creditor must proceed as provided in srbparagraphs (2), (3) and (4) but is not obliged to send a proposal to the debror. (5) and if Collection undcr receivable,negotiable instrwnent, right to paynent funds eredited to depsit accout t or security of (l) After default, a secured cr,editor with a security interest in a receivable, negotiable instrument, right to payment of funds credited to a deposit acrount or security is entitled o collectpaymentfirour the obligorof the rcceivable,obligorurder the negotiable instnrmeut, financial institution or issuer of the secrnity. 35. (2) The secured creditor may exercise tbe right to collwt under subparagaph (1) even before default with the consent of the debtor" (3) A secured creditor exercising tlrc right to collect under subparagaph (t) or (2) is also entitled to enforce any personal or property right that secures or supports paFnent of the collateral. (4)Therightof the securedcreditortocollectundersutrparagraphs (3) is subject to paragraphs?3 to26. (l),(2) and ColleAionaf payncnt wtdcr receivable by outright tan$eree 36.In the case of an outright transferof a receivable, the transferee is entitled to collect tlle receivable befce or after default of the fransferor. PART VI AprucenleLAw Inw applicable to mutrunl rights and obligations 37. The law applicable to the mutual rights and obligations of the debtor and the secured credior arising fum their security agreement is the law chosen by fiem and, in the absence of a choice of laq the law governing the security agreement. t74