Bayside Marina borrows funds from Credit Union secured by Bayside's equipment in the marina shops. If Credit Union fails to perfect its claim to the collateral, the claim will be reduced to that of

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If Credit Union fails to perfect its security interest in the collateral, it does not have priority over other creditors and is treated as an unsecured creditor in the event of Bayside Marina's default.

Bayside Marina Borrows Funds from Credit Union Secured by Bayside's