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The upper right securing point is an elastic strap that you attach last when inserted your iPad 2.
The iPad 2 has a rear facing camera and as you can see when you first buy and use an Oberon Design case your camera will be usable, but not centered. Over time the leather gets worn in and the camera should end up centered in the opening.
The thinner elastic straps pull out from behind the iPad 2 to secure it for landscape use.