A loaned $100 to B and took a valid security interest in B's lawn mower. A filed a financing statement that covered "Consumer Goods." At the time, B used the mower only for cutting his own lawn. About six months later, however, B started using the mower in cutting neighboring yards as part of B's new lawn care business.
Which statement is correct?
1. A still has a security interest in the lawn mower, and it is still properly perfected despite the change in the mower's use
2. A still has a security interest in the lawn mower, but that security interest in no longer perfected because the mower is now equipment
3. A had a valid security interest in the mower, but no longer has a valid security interest because the mower is now equipment
4. A never had a perfected security interest in the mower because the financing statement did not properly describe the collateral