Khloe Kardashian lived in Los Angeles with her husband Lamar Odom, a professional basketball player. On November 1, she took out a loan from Reality Star Bank for $100,000 to purchase a rare vase to place in her foyer, which was secured by the vase. The bank properly perfected its interest by filing in California. Unfortunately, Odom was traded and Khloe moved to New Jersey on December 15. Shortly after the move, Khloe obtained a loan from Celebrity Bank on December 31, which was again secured by the vase. Celebrity Bank filed a UCC-1 in New Jersey with the proper office under state law on January 1. Unfortunately, she fell on hard times financially and defaulted on both loans. If both banks tried to repossess the vase on February 14, which of the following is the most accurate statement?
1. Celebrity Bank will have priority because it was the first to file in New Jersey.
2. Celebrity Bank will have priority because California law governs the priority as of February 14.
3. Reality Star Bank will have priority because its interest is perfected under New Jersey law as of February 14.
4. Reality Star Bank will have priority because it had a purchase money security interest in the vase.