One of the ground wires is for the 12 volt converter/charger and the other is for the 120 volt AC panel. Both are very important, especially the 120 volt panel grounding for safety reasons.
As far as I'm concerned, the way RV manufacturers do grounding to frames is really bad and asking for problems. I'm pretty certain the lugs they use are only UL listed for indoor dry locations and have not been able to find a wet or damp location listing for them. They are simply screwed onto frames with a small self-tapping screw and the frame metal isn't properly cleaned and treated to minimize the possibility of rust between lug & frame.
I removed the two ground lugs for our converter & panel and installed a brass grounding post like in this photo and connected the 2 ground wires to it. Available from Burndy and Panduit. I used a brass nut and serrated brass washer on each side of the frame to bite into the steel frame and sanded the steel to clean & shiny.
You will find the same ground lugs used in the A-frame in TTs and for grounding electric stab. jacks.
As far as rust goes on the frame, I wouldn't use POR-15. It's not the magic answer many think. The surfaces need to be correctly cleaned and prepped or it won't adhere properly and it can't be recoated after curing. I would use Rustoleum "Professional" rust converter paint. Excellent stuff and available in rattle can or brush on. Correct cleaning and prep is the key to doing it right and getting it to last.
It def. looks like a bad weld on the spring hanger. If that's all there is, it's an easy fix. But if there is a bad weld like this, I would check the entire frame for other bad welds. Don't get me started on Lippert frame problems. We had an entire TT replaced because of it.
