(1) Notwithstanding the commencement of another secured creditor's exercise of rights after default, a secured creditor whose security interest has priority over that of the other secured creditor may take over enforcement before the earlier of —
(a) the sale or other disposition, acquisition or collection of an encumbered property by the secured creditor enforcing the security interest; or
(b) the conclusion of an agreement by the secured creditor enforcing the sale or other disposition of an encumbered property.
(2) The right of the secured creditor with priority to take over the enforcement process includes the right to enforce under section 90.