[husker boxster]

The loose strap is to assist when you put the top in service mode. It stretches far enough to slip over the front of the driver's side top bow, keeping the bottom of the bottom portion of the top up and out of the way when working on the engine. There should be a patch of Velcro at the bottom of the top (on the inside) that you can hook the strap to when getting out of service mode.

Those wear marks are normal for Boxster tops.

It doesn't matter for this issue, but helps if you state what year and model (base or S) you have with future problems.