The vessel as it is constructed and all materials approriate to the contract whether in the builder's yard or elsewhere.

For further securing £2,424,000 & all further moneys due, or to become due from the company to the chargee barclays bank international LTD. In terms of a financial agreement dated 4TH june 1974

(A) all the owners rights interest and benefits under a building agreement dated 31ST aug. 1973, made between the owner of the one part and the builder of the other part ("the contract") relating to the construction and purchase of a motor vessel to be known during construction as yard no 968. ("the vessel") (b) all monies payable to the owner in respect of the insurance effected by the builder under the contract and all the owners' joint or other interest in connection with such insurance.

For securing £2,424,000 & all further moneys due, or to become due from the company to the chargee barclays bank international LTD. In terms of a financial agreement dated 4TH june 1974