Where will the Collateral for a Big Apple Bagels franchise be located?

paragraph 2 above, to secure all debts, obligations and liabilities of Debtor to Secured Party arising

out of the Franchise Agreement described in Paragraph A of the Recitals.

• 1. The Collateral will be located at the addresses noted on Schedule A hereto. Debtor will not, without Secured Party's consent, remove the Collateral from the locations noted on Schedule A
• 1. Debtor will not, without Secured Party's consent: (i) allow the Collateral to become an accession to other goods; (ii) sell, lease, otherwise transfer, manufacture, process, assemble, or furnish under contracts of service, the Collateral, except goods identified herein as inventory and sold in the ordinary course of business; or (iii) allow the Collateral to be affixed to real estate, except goods identified herein as fixtures.
• 1. Debtor hereby authorizes Secured Party to file Uniform Commercial Code ("UCC") Financing Statements to enable Secured Party to perfect this security interest by filing pursuant to the Uniform Commercial Code as adopted by the state where the BAGELS Stores noted on Schedule A are located. Debtor hereby waives any requirement or custom requiring Debtor to execute said UCC Financing Statements.
• 1. Debtor hereby authorizes Secured Party to obtain a credit report on Debtor at any time Debtor defaults under its Franchise Agreement, including but not limited to delinquency in a payment due Secured Party, a dishonored electronic bank draft, cancellation of Debtor's insurance for non-payment, or nonpayment to a vendor or Debtor's landlord of an undisputed amount.
• 1. Upon default under the Franchise Agreement, Secured Party shall have all the rights available to it under the Commercial Code of the state where the BAGELS Stores noted on Schedule A are located.
• 1. The parties acknowledge that the Collateral is used for business, and not personal, family, or household purposes.

Source: Item 22 — CONTRACTS (FDD pages 86–87)