Third step. Install the rivet-nut and fender washer into one of the holes. You have to tap it in with a hammer. Now put a pair of vise-grips on the fender washer to hold it while you tighten down on the rivet-nut. When you think you have it tight enough. Remove the bolt and take a look. Now do the other two holes the same way.
If anybody is interested. I got some left over rivet-nuts.