BHS DIRECT LIMITED

Reward Capital Limited

As a continuing security for the payment and discharge of the secured liabilities, the borrower with full title guarantee:. Charges to the lender, by way of first legal mortgage, all estates or interests in any freehold, leasehold or commonhold property now owned by it, including the real property (if any) specified in schedule 2;. charges to the lender, by way of first fixed charge:. All present and future estates or interests of the borrower in, or over, any freehold, leasehold or commonhold property (other than any such property effectively mortgaged under clause 3.1.1;. and all the intellectual property;.