11. Subject to section 9, in no case may the part of the loan secured by hypothec exceed 90 % of the value, as determined by the Société, of the forest offered as security, and, subject to section 12, in no case may the part of the loan secured exclusively by movable property exceed the lesser of the following amounts:(1) $200 000; and
(2) an amount equivalent to 90 % of the value of the hypothecated property, as determined by the Société.