Using the input sentence as a reference, analyze and specify the entity type of 'Borrower'.
Options: organization, location, person

" STATED COST " is ( i ) with respect to new equipment , the original cost to Borrower of the item of new equipment net of any and all freight , installation , tax and other soft costs or ( ii ) with respect to used equipment , the net book value assigned to such item of used equipment by Bank , after consultation with Borrower , at the time of the making of the equipment Advance such item of used equipment .
person