You are a Junior Credit Officer at BNSS Al Island ud a commercial bank Contracto Lid is medium sized company that sols construction equipment and also construct buildings on behalf of the government and other large organisations. The company is owned by Michael Tenn and his wife Suson who are also the only director. Contracto Ltd has now oppiled to your bank for credit of $65.000.000 broken down as follows: (1) to carry out long-term expansion involving the upgrading of its warehouse - 540.000.000. (2) Overdraft $25.000.000. The warehouse is situated on real estate in a section of Kingston that, waist good for that type of business will not be easily sold and so the bank will not accept it as collateral security. The following are extracts from Contracto's balance sheet os at September 30, 2021 Inventory of large construction tools for sale $30.000.000 Receivables due trom a contract on a government buliding 520.000.000 2017 Caterpillar tractor serial number WVW234987 $45.000.000 Motor Vehicles 13-2019 Toyoto pickup trucks with chassis numbers 122.609.743 respectively $15.000.000 2. 2018 Nissan Terna motor cars with chassis numbers A567 and C 845 $10.000.000 Office building at 4 Pol Ave registered at volume 354folio 85 $100,000,000 First mortgage on reci estate at 4 Pol Ave held by another bank $35.000.000 BNSS ke at other creo banks, have a standard loon-to-value rallo (LVR)O 65% on real estate. 70% on pickup trucks & motorcon and Soxocrom all other asset classes Required laj You have been asked to set out the coloforai security section of the loan proposal that you are recommending in the manner that in your judgement best secure the bank. Pleate also state the ingal documents that will be used to take a lon on each asset that you are using and indicato whether this is prlenary or supporting Use the following format Asset Nome Value Value of ten Logel document used to secure charge Primary/secondary {b} State two very important steps that you will take pirlar to accepting the Items of colateral at secully You are a Junior Credit Officer at BNSS Al Island ud a commercial bank Contracto Lid is medium sized company that sols construction equipment and also construct buildings on behalf of the government and other large organisations. The company is owned by Michael Tenn and his wife Suson who are also the only director. Contracto Ltd has now oppiled to your bank for credit of $65.000.000 broken down as follows: (1) to carry out long-term expansion involving the upgrading of its warehouse - 540.000.000. (2) Overdraft $25.000.000. The warehouse is situated on real estate in a section of Kingston that, waist good for that type of business will not be easily sold and so the bank will not accept it as collateral security. The following are extracts from Contracto's balance sheet os at September 30, 2021 Inventory of large construction tools for sale $30.000.000 Receivables due trom a contract on a government buliding 520.000.000 2017 Caterpillar tractor serial number WVW234987 $45.000.000 Motor Vehicles 13-2019 Toyoto pickup trucks with chassis numbers 122.609.743 respectively $15.000.000 2. 2018 Nissan Terna motor cars with chassis numbers A567 and C 845 $10.000.000 Office building at 4 Pol Ave registered at volume 354folio 85 $100,000,000 First mortgage on reci estate at 4 Pol Ave held by another bank $35.000.000 BNSS ke at other creo banks, have a standard loon-to-value rallo (LVR)O 65% on real estate. 70% on pickup trucks & motorcon and Soxocrom all other asset classes Required laj You have been asked to set out the coloforai security section of the loan proposal that you are recommending in the manner that in your judgement best secure the bank. Pleate also state the ingal documents that will be used to take a lon on each asset that you are using and indicato whether this is prlenary or supporting Use the following format Asset Nome Value Value of ten Logel document used to secure charge Primary/secondary {b} State two very important steps that you will take pirlar to accepting the Items of colateral at secully