Bridge loans shall be secured by: A pledge of the investor's note or notes or other instruments evidencing the investor's obligations to make capital contributions; and One or more of the following: A mortgage on the project, which may be subordinate to mortgages securing new or existing debt on the project; A guaranty of payment equal to the insured amount of the bridge loan, backed by assets of quality and liquidity satisfactory to the Fund; A guaranty of completion of the project; or Such other collateral as the Fund deems appropriate related to the risk of the bridge loan and the project and other factors it deems relevant.