(a) After default, a secured party has the rights provided in this part 6 and, except as otherwise provided in section 4-9-602, those provided by agreement of the parties. A secured party:
May reduce a claim to judgment, foreclose, or otherwise enforce the claim, securityinterest, or agricultural lien by any available judicial procedure; and
If the collateral is documents, may proceed either as to the documents or as to thegoods they cover.
A secured party in possession of collateral or control of collateral under section 4-7106, 4-9-104, 4-9-105, 4-9-106, or 4-9-107 has the rights and duties provided in section 4-9-207.
The rights under subsections (a) and (b) of this section are cumulative and may beexercised simultaneously.
Except as otherwise provided in subsection (g) of this section and section 4-9-605,after default, a debtor and an obligor have the rights provided in this part 6 and by agreement of the parties.
If a secured party has reduced its claim to judgment, the lien of any levy that may bemade upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
The date of perfection of the security interest or agricultural lien in the collateral;
The date of filing a financing statement covering the collateral; or
Any date specified in a statute under which the agricultural lien was created.
A sale pursuant to an execution is a foreclosure of the security interest or agriculturallien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this article.
Except as otherwise provided in section 4-9-607 (c), this part 6 imposes no dutiesupon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
For purposes of this part 6, in taking possession of collateral by self-help, "breach ofthe peace" includes, but is not limited to, engaging in the following actions without the contemporaneous permission of the debtor:
Entering a locked or unlocked residence or residential garage;
Breaking, opening, or moving any lock, gate, or other barrier to enter enclosed realproperty; or
Using or threatening to use violent means.
Source: L. 2001: Entire article R&RE, p. 1397, § 1, effective July 1. L. 2006: (b) amended, p. 503, § 44, effective September 1.
Editor's note: (1) This section is similar to former § 4-9-501 as it existed prior to 2001.
(2) Colorado legislative change: Colorado added subsection (h).