Take up
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
A party to a negotiable instrument, particularly an indorser or acceptor, is said to "take up" the paper, or to "retire" it, when he pays its amount, or substitutes other security for it, and receives it again into his own hands.
See Hartzell v. McClurg, 54 Neb. 316, 74 N. W. 626.