CHESHIRE BROTHERS LIMITED

All monies owing to the company by V.A.G. (united kingdom) LTD and/or M.A.N.-vw truck & bus limited in respect of refunds. (See form 395 for full details).

A first fixed charge over the freehold and leasehold property both present and future (excluding the property known as cheshires garage, mount road, higher belington and freehold property on the east side of mount road and the south side of mill view drive, higher belington) all present and future motor vehicles (excluding motor vehicles held as stocks) aircraft, boats, furniture, equipment, investments, and all bookdebts and minies payable under present and future policies of insurance and a floating charge over all other assets both present & future.

Fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital fixtures & fittings fixed plant and machinery.

All those monies which may from time to time be owing to the company by V.A.G. (united kingdom) limited in respect of refunds of monies paid by or by the direction of the company to V.A.G. (united kingdom) LTD by way of deposit on the acquisition of motor vehicles on a consignment basis.