(b) In your own words and understanding, discuss and explain in details the three most common forms of securities and protections provided by the shareholder(s) of the borrower (shipowner) to the lending bank (commercial bank) in arranging mortgage-backed bank loan.(Pledge of shares etc.)

(c) Further to Question 2(b) above, in your own words and understanding, elaborate and explain in details the two common ways available to lending bank (commercial bank) to execute and effectuate the most common form of security and protection provided by the shareholders of the borrower (shipowner) to the lending bank (commercial bank) in order to take possession of the mortgaged ship in an attempt to fully recover the outstanding loan amount in case if the borrower persistently defaults in repaying the principal amount and periodic interest of mortgage-backed bank loan.

(d) Choose one of the two common ways from Question 2(c), in your own words and understanding, discuss and explain in details the major issues that the lending bank (commercial bank) shall duly consider, in particular the risks involved, before exercise its rights to take possession of the ship in an attempt to fully recover the outstanding loan amount in case if the borrower persistently defaults in repaying the principal amount and periodic interest of mortgage-backed bank loan.