No.9nffi7 Movnslr Pnornnry Secunrry lxrunnsrs PART IV Rmrs lt'lo OsucltrroNs or Panrrns Obligatiow of debtors Cap. L4:35 er.rn Tlmo-Panw Om_rcons and. secured creditors in relation to collateral 2 |' ( I ) A debCIr or secured creditor in possession of the collateral must exercise reasonable caf,e to pr€s€rve the asset. (2) Upon termination of a smurity interest in the collateral- (a) the secured creditor in possession of such collateral must return it to the debor; and (b) the secured cteditor not in possession amendmentscancellation notice as of such collateral must regist€r an providedin paragraph 20 of theFint Schedule. Rights of dcbtors and secured creditors in relation n collateral atd secured obligations 22. (l) A secured creditor in possession of ttre collateral has the right- (a) to be reimbursed and add to the secured obligation any rcasonable expenses he or she incurs for the preservation of the asset, including the cost insurance, payment of taxes and other charges; of (b) to make reasonable use of the asset and apply the revenues it generates to the payment of the secured obtgafion. (2) A securcd creditor has the right to inspect the collateral in &e possession of the debtor or another person. (3) A debtor is entitled to r€quest the seured creditor to prcvide infomntion with regard to the secured obligation or the collateral. (4) Within five working days after receipt of a written request for information, a secured creditm must prcvide to the (a) debtor- a statement of account that provides an accounting obligations secued by the collaterah of the unpaid (b) a statement indicating the collateral in which the secured creditor claims a security int€rest; (c) o( a $tatement that bottt provi&s an aceounting of ttre unpaid obligations secured by the collateral and identifies the collateral subject to a security interest. (5) Adebtor is entitled without charge to one rcsponse to a request during any three-month period. (6) Tk secured creditor may requirc payment of a charge not exceeding the amount as may be prescribed in regulations for each additional response. Protection of obligor of receivable 23. Except as otherwise provided in this Act, the creation of a security interest in receivable does not affect the rights and obligations of the obligor of the receivable, including the payment temrs contained in th contract giving rise to the rcceivable. a Notification U.t\ o,f security interest and payment of receivable Notificationofa security interest ina rcceivable iseffective whenrcceived by the obligo of the rreceivable and the secured creditor. if it reasonably 170 identifies the encumbered receivable