OPINION
SKOPIL, Chief Judge:
This action in admiralty was filed by Southern Oregon Production Credit Association (the Association) in rem against a fishing vessel, the Oil Screw SWEET PEA, and in personam against the vessel's owner, Glenn R. Dexter, Inc., to foreclose a preferred ship mortgage. An order of default has been entered against both defendants, and the SWEET PEA has been sold to the Association by judicial sale. The sole remaining issue is the...
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