Timmy purchased a car from his local dealership, SparklerCars. However, since the car was not available in the color that Timmy favored, the sales contract stipulated that Timmy could immediately pick up the car from a nearby warehouse it was housed in. The warehouse was owned by Mr. Putins. Timmy received the document of title for the car upon payment and presented it to Mr. Putins around a week later. But Mr. Putins informed Timmy that the car was damaged during a fire in the warehouse. According to the UCC, which of the following parties holds the risk of loss for the damage caused to the car?

The risk is to be borne by Timmy.

Mr. Putins has to take up the loss.

SparklerCars must take the risk of loss.

The risk is to be borne jointly by Mr. Putins and SparklerCars.