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                                                                    Exhibit 10.2

                               SECURITY AGREEMENT

      THIS SECURITY AGREEMENT (as amended, restated, supplemented or otherwise
modified from time to time, this "AGREEMENT") is executed as of July 13, 2005,
by MONRO MUFFLER BRAKE, INC., a New York corporation ("BORROWER"), MONRO SERVICE
CORPORATION, a Delaware corporation ("MONRO SERVICE"), and MONRO LEASING, LLC, a
Delaware limited liability company ("MONRO LEASING", and together with Borrower
and Monro Service, the "DEBTORS"), for the benefit of Charter One Bank, N.A., as
Administrative Agent (in such capacity, "SECURED PARTY") for the Lenders
("LENDERS") party to the Credit Agreement (as defined below).

                                    RECITALS

         A. Borrower, Secured Party, and Lenders have executed a Credit
   Agreement dated as of even date with this Agreement (as amended, restated,
   supplemented or otherwise modified from time to time, the "CREDIT
   AGREEMENT"), together with certain other Loan Papers.

         B. The execution and delivery of this Agreement is a condition to the
   execution of the Credit Agreement and the other Loan Papers by Secured Party
   and Lenders and is an integral part of the transactions contemplated by the
   Loan Papers and a condition precedent to the obligations of Secured Party and
   Lenders to extend credit under the Credit Agreement.

         C. Monro Leasing and Monro Service are wholly-owned subsidiaries of
   Borrower and shall benefit, directly and indirectly, from Lenders' extension
   of credit to Borrower under the Credit Agreement.

      THEREFORE, Debtors covenant and agree with Secured Party as follows:

      1. Certain Definitions. Unless otherwise defined in this Agreement, each
      capitalized term used but not defined in this Agreement will have the
      meaning given that term in the Credit Agreement or in the UCC. If the
      definition given a term in the Credit Agreement conflicts with the
      definition given that term in the UCC, the Credit Agreement definition
      shall control to the extent allowed by Law. If the definition given a term
      in Article 9 of the UCC conflicts with the definition given that term in
      any other chapter of the UCC, the Article 9 definition shall control. As
      used in this Agreement, the following terms have the meanings indicated:

            ACCOUNTS means all accounts, instruments, receivables, accounts
      receivable, contract rights, chattel paper, documents, general
      intangibles, book debts, any and all amounts due to Debtors from a factor,
      amounts resulting from the sale of any assets, arising from a Debtor sale
      of goods or rendition of services in the ordinary course of a Debtor
      business and all returned, reclaimed, refused or repossessed goods and the
      books and records pertaining to the foregoing, and the cash or non-cash
      proceeds resulting therefrom and all security and guaranties therefor.

            AGREEMENT means this Agreement together with all schedules and
      exhibits attached to this agreement, and all amendments and modifications
      to this Agreement, the schedules or the exhibits.

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            COLLATERAL has the meaning given in SECTION 5 of this Agreement.

            CREDIT AGREEMENT has the meaning given in the Recitals.

            DEBTORS mean the Debtors and their successors and assigns.

            EQUIPMENT means any and all of each Debtor's equipment, wherever
      located, whether now owned or hereafter acquired, including, without
      limitation, any and all manufacturing, distribution, selling, data
      processing and office equipment, and all machinery, forklifts, furniture,
      furnishings, appliances, and trade fixtures.

            INTELLECTUAL PROPERTY means any and all of Debtors' patents,
      trademarks, tradenames, copyrights, techniques, processes, formulas, any
      licenses for any of the foregoing and such other intangible rights,
      privileges, concessions and other property of Debtors used or existing in
      connection with Debtors' business that is commonly considered to
      constitute intellectual property under applicable law or in accordance
      with common usage.

            INVENTORY means any and all of each Debtor's inventory, wherever
      located, whether now owned or hereafter acquired, including without
      limitation, any and all goods held for sale or lease or being processed
      for sale or lease in Debtor's business as now or hereafter conducted,
      including without limitation, all parts, furnishings, machinery,
      furniture, fixtures and equipment, manufacturing, distribution, selling,
      data processing and office equipment, appliances (excluding equipment in
      which such Debtor's interest is a leasehold interest), all materials,
      goods and work-in-process, finished goods, and other tangible property
      held for sale or lease or furnished or to be furnished under contracts of
      service or used or consumed in such Debtor's business, together with all
      increases, parts, fittings, accessories, equipment, and special tools now
      or hereafter affixed to any part thereof and thereto, together with all
      substitutes and replacements thereof, all accessions and attachments
      thereto, and all tools, parts and equipment now or hereafter added to or
      used in connection with the foregoing, along with all documents (including
      documents of title) covering inventory, all cash and non-cash proceeds
      from the sale of inventory, including proceeds from insurance, and
      including such property the sale or other disposition of which has given
      rise to accounts and which has not been returned to or repossessed or
      stopped in transit by such Debtor.

            LEASE means any lease, sublease, license, or concession of Inventory
      or other personal property of each Debtor.

            OBLIGATION means the Obligations defined in the Credit Agreement.

            OBLIGOR means any Person obligated with respect to any of the
      Collateral, whether as a party to a contract, an account debtor or
      otherwise.

            SECURITY INTEREST means the security interests granted and the
      pledges and collateral assignments made under SECTION 3 of this Agreement.

            SECURED PARTY means Secured Party and its successors and assigns.

            UCC means the Uniform Commercial Code, as in effect from time to
      time in New York.

      2. Credit Agreement. This Agreement is being executed and delivered
      pursuant to the terms and conditions of the Credit Agreement. Each
      Security Interest is a "Lien" referred to in the Credit Agreement.

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      3. Security Interest. Subject to the terms and conditions of this
      Agreement, and to secure the prompt, unconditional and complete payment
      and performance of the Obligations when due, each Debtor grants to Secured
      Party a security interest in all of such Debtor's right, title, and
      interest in the Collateral and each Debtor pledges and assigns as security
      to Secured Party all of such Debtor's right, title and interest in the
      Collateral, provided, that, if the pledge or assignment of any specific
      item of the Collateral is expressly prohibited, the Security Interest
      shall, subject to Section 5 hereof, be effective to the extent allowed by
      UCC Section 9-404, 9-405, 9-406 or other applicable Law.

      4. No Assumption or Modification. The Security Interest is given to secure
      the prompt, unconditional and complete payment and performance of the
      Obligations when due, and is given as security only. Secured Party does
      not assume and shall not be liable for any of Debtors' liabilities,
      duties, or Obligations under or in connection with the Collateral. Secured
      Party's acceptance of this Agreement, or its taking any action in carrying
      out this Agreement, does not constitute Secured Party's approval of the
      Collateral or Secured Party's assumption of any obligations under or in
      connection with the Collateral. This Agreement does not affect or modify
      Debtors' obligations with respect to the Collateral.

      5. Collateral. As used in this Agreement, and subject to the immediately
      succeeding sentence, the term "COLLATERAL" means the following items and
      types of property, wherever located, whether now owned or hereafter
      acquired by either Debtor:

                  a)    Accounts;

                  b)    Inventory;

                  c)    Leases;

                  d)    Intellectual Property; and

                  e)    Equipment.

      The description of Collateral contained in this SECTION 5 includes after
acquired Collateral and proceeds of the Collateral.

      Notwithstanding any provision of this Agreement or any other Loan Paper:
(a) Debtors are pledging and collaterally assigning their right, title, and
interest in the Leases to Secured Party only to the extent, if any, that such
pledge and assignment is permitted by the terms of any Lease or by the secured
party thereunder and Debtors make no representation or warranty with respect to
the assignability of any Lease as contemplated by the Loan Papers or as to any
interest of Secured Party therein; and (b) nothing herein or in any Loan Paper
shall prohibit or give rise to any right or remedy by reason of any modification
or termination of any Lease at any time without Secured Party's consent,
including, but not limited to any such modification or termination of any Lease
on account of, arising out of or related to, any breach or alleged breach
thereof; and (c) upon sale of any Equipment in compliance with Section 9.10 of
the Credit Agreement, the Security Interest in such Equipment shall be
immediately and automatically released and Debtors shall be authorized, without
further consent of Secured Party, to file any UCC statements as may be requested
by the purchaser of such Equipment to evidence the release of the Security
Interest. Debtors agree to use commercially reasonable efforts to obtain the
consent of a lessee to the pledge and collateral assignment hereunder to Secured
Party of any Lease if necessary and it requested by Secured Party.

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      6. Fraudulent Conveyance. Notwithstanding anything contained in this
      Agreement to the contrary, Debtors agree that if, but for the application
      of this SECTION 6, the Obligations or any Security Interest would
      constitute a preferential transfer under 11 U.S.C. Section 547, a
      fraudulent conveyance under 11 U.S.C. Section 547 (or any successor
      section of that Code) or a fraudulent conveyance or transfer under any
      state fraudulent conveyance or fraudulent transfer law or similar Law in
      effect from time to time (each a "FRAUDULENT CONVEYANCE") then the
      Obligations and each affected Security Interest will be enforceable to the
      maximum extent possible without causing the Obligations or any Security
      Interest to be a Fraudulent Conveyance, and shall be deemed to have been
      automatically amended to carry out the intent of this SECTION 6.

      7. Representation and Warranties. Debtors represent and warrant to Secured
      Party that:

            a) Place of Business Location of Records. SCHEDULE 1 to this
Agreement sets forth each Debtor's place of business and chief executive office,
the present location of its books and records concerning any of the Collateral
that is accounts or general intangibles, and its place of formation. Except as
noted on SCHEDULE 1, all such books, records, and Collateral are in its
possession. The failure of such description of Collateral on SCHEDULE 1 to be
accurate or complete will not impair the Security Interests in such Collateral.

            b) No Prior Lien. Except for Permitted Liens, Debtors have not
executed any prior transfer, assignment, pledge, security interest, or
hypothecation covering the Collateral or any interest in the Collateral.

            c) Authority. Each Debtor has full power and authority to execute
this Agreement without breaching any material agreement to which such Debtor is
party.

      The delivery at any time by Debtors to Secured Party of Collateral or of
additional specific descriptions of certain Collateral shall constitute a
representation and warranty by Debtors to Secured Party under this Agreement
that the representations and warranties of this SECTION 7 are true and correct
with respect to each item of such Collateral.

      8. Covenants. Debtors further covenant and agree with Secured Party that
      so long as the Credit Agreement is in force and effect, each Debtor will:

            a) Relocation of Office or Books and Records, Change of Name or
Address. Give Secured Party 30 days prior written notice of any proposed
relocation of its principal place of business, its place of formation, chief
executive office, the place where its books and records relating to accounts and
general intangibles are kept or changing its name and the address to which it is
entitled to notice under the Credit Agreement; provided that if such Debtor
gives less than 30 days' prior notice, such notice shall be sufficient for
purposes of this subparagraph (a) if, in the reasonable judgment of Secured
Party, the rights of Secured Party in the Collateral are not adversely affected.
The notice must include the street address, zip code, telephone number, city,
county or parish, and state.

            b) Relocation of Collateral. Not relocate any of the Collateral to
any commonwealth, nation, territory, possession, or country outside the United
States of America.

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            c) Material Change. Promptly notify Secured Party of any change in
any material fact or circumstance represented or warranted by Debtors with
respect to the Collateral.

            d) Record of Collateral. Maintain, at the place where it is entitled
to receive notices under the Credit Agreement, a current record of where all
Collateral is located, upon reasonable notice permit Secured Party's
representatives to inspect and make abstracts from such records at any
reasonable time during normal business hours.

            e) Adverse Claim. Promptly notify Secured Party of any claim,
action, or proceeding challenging the Security Interest or affecting title to
all or any material portion of the Collateral and, at Secured Party's request,
appear in and defend any such action or proceeding at Debtors' expense.

            f) Hold Collateral In Trust. Upon the occurrence and during the
continuation of a Default, hold in trust (and not commingle with its other
assets) for Secured Party all Collateral that is chattel paper, instruments, or
documents of title at any time received by it and promptly deliver same to
Secured Party upon the request of Secured Party. Upon the occurrence and during
the continuation of a Default, at Secured Party's request, each chattel paper,
instrument, or document of title retained by Debtor shall be marked to state
that it is assigned to Secured Party and each instrument shall be endorsed to
the order of Secured Party (but failure to so mark or endorse shall not impair
the Security Interest).

            g) No Assignment. Not sell, assign, or otherwise dispose of, or
permit the sale, assignment, or disposition of, any Collateral except as
permitted by the Loan Papers and except for the sale of Inventory in the
ordinary course of business.

            h) Permitted Liens. Not create or permit the creation of, or allow
the existence of, any Lien upon or against any of the Collateral except for
Permitted Liens.

            i) Further Assurance. From time to time promptly execute and deliver
to Secured Party all other assignments, certificates, supplemental documents,
and financing statements, and do all other acts or things as Secured Party may
reasonably request in order to create, evidence, perfect, continue, or maintain
the existence and priority of the Security Interest including amendments to
SCHEDULE 1.

            j) Perform Obligations. Perform all of its Obligations under or in
connection with the Collateral in accordance with customary business practices.

            k) Amendment. Not amend, alter, or modify, or permit the amendment,
alteration or modification of, any material portion (individually or
collectively) of the Collateral without Secured Party's prior written consent as
to the form and content of the amendment, alteration or modification, such
consent not to be unreasonably withheld or delayed.

            l) Impairment of Collateral. Not do or permit any act which would
impair any material portion of the Collateral.

            m) Default Under Collateral. Promptly notify Secured Party of any
default or event of default by such Debtor or any other party under or in
connection with any material

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portion (individually or collectively) of the Collateral and immediately use
reasonable efforts to remedy the same or immediately demand that the same be
remedied.

            n) No Lien or Assignment. Except for Permitted Liens, not execute in
favor of any other person or entity, any assignment, pledge or hypothecation of,
or security interest in, all or any portion of the Collateral.

      9. Default, Remedies. Upon the occurrence and during the continuance of a
      Default, subject to the terms and conditions of the Credit Agreement,
      Secured Party has the following cumulative rights and remedies under this
      Agreement.

            a) Debtor's Agent. Secured Party shall be deemed to be irrevocably
appointed as each Debtor's agent and attorney-in-fact with all right and power
to enforce all of such Debtor's rights and remedies under or in connection with
the Collateral. All reasonable costs, expenses and liabilities incurred and all
payments made by Secured Party as a Debtor's agent and attorney-in-fact,
including, without limitation, reasonable attorney's fees and expenses, shall be
considered a loan by Secured Party to such Debtor which shall be repayable on
demand and shall accrue interest at the Default Rate and shall be part of the
Obligations.

            b) Account Debtors and Obligor. Secured Party may notify or require
each account debtor or other Obligor to make payment directly to Secured Party
and Secured Party may take control of the proceeds paid to Secured Party. Until
Secured Party elects to exercise these rights, Debtors are authorized to collect
and enforce the Collateral and to retain and expend all payments made on
Collateral. After Secured Party elects to exercise these rights, Secured Party
shall have the Right in its own name or in the name of Debtors to (i) compromise
or extend time of payment with respect to all or any portion of the Collateral
for such amounts and upon such terms as Secured Party may reasonably determine,
(ii) demand, collect, receive, receipt for, sue for, compound, and give
acquittance for any and all amounts due or to become due with respect to
Collateral, (iii) take control of cash and other proceeds of any Collateral,
(iv) endorse any Debtor's name on any notes, acceptances, checks, drafts, money
orders, or other evidences of payment on Collateral that may come into Secured
Party's possession, (v) sign any Debtor's name on any invoice or bill of lading
relating to any Collateral, on any drafts against Obligor or other Persons
making payment with respect to Collateral, on assignments and verifications of
accounts or other Collateral and on notices to Obligor making payment with
respect to Collateral, (vi) send requests for verification of Obligations to any
Obligor, and (vii) do all other acts and things reasonably necessary to carry
out the intent of this Agreement. If any Obligor fails to make payment on any
Collateral when due, after giving effect to any applicable grace period, Secured
Party is authorized, in its sole discretion, either in its own name or in any
Debtor's name, to take such action as Secured Party reasonably shall deem
appropriate for the collection of any amounts owed with respect to Collateral or
upon which a delinquency exists. Regardless of any other provision of this
Agreement, however, Secured Party shall never be liable for its failure to
collect, or for its failure to exercise diligence in the collection of, any
amounts owed with respect to Collateral except for its own fraud, gross
negligence, willful misconduct or violation of any Law, nor shall it be under
any duty whatever to anyone except Debtors to account for funds that it shall
actually receive under this Agreement. A receipt given by Secured Party to any
Obligor shall be a full and complete release, discharge, and acquittance

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to such Obligor, to the extent of any amount so paid to Secured Party. Secured
Party may apply or set off the deposits against any liability of Debtors to
Secured Party.

            c) UCC Rights. Secured Party may exercise any and all rights
available to a secured party under the UCC, in addition to any and all other
rights afforded by the Loan Papers, at law, in equity, or otherwise, including,
without limitation, (i) requiring Debtors to assemble all or part of the
Collateral and make it available to Secured Party at a place to be designated by
Secured Party which is reasonably convenient to Debtors and Secured Party, (ii)
applying by appropriate judicial proceedings for appointment of a receiver for
all or part of the Collateral, (iii) applying to the Obligations any cash held
by Secured Party under this Agreement, (iv) reducing any claim to judgment, (v)
exercising the rights of offset or banker's Lien against the interest of Debtors
in and to every account and other property of Debtors in Secured Party's
possession to the extent of the full amount of the Obligations, (vi) foreclosing
the Security Interest and any other liens Secured Party may have or otherwise
realize upon any and all of the rights Secured Party may have in and to the
Collateral, or any part thereof, and (vii) bringing suit or other proceedings
before any Tribunal either for specific performance of any covenant or condition
contained in any of the Loan Papers or in aid of the exercise of any right
granted to Secured Party in any of the Loan Papers.

            d) Notice. Reasonable prior notification of the time and place of
any public sale of the Collateral, or reasonable prior notification of the time
after which any private sale or other intended disposition of the Collateral is
to be made, shall be sent to Debtors and to any other Person entitled to notice
under the UCC; provided that, to the extent permitted by applicable Law, if any
of the Collateral threatens to decline speedily in value or is of the type
customarily sold on a recognized market, Secured Party may sell or otherwise
dispose of the Collateral without notification, advertisement, or other notice
of any kind if giving such prior notification is not possible without causing
undue expenses or delays; provided that notice shall be given as soon as
possible thereafter. It is agreed that notice sent or given not less than five
Business Days prior to the taking of the action to which the notice relates is
reasonable notification and notice for the purposes of this subparagraph. It
shall not be necessary that the Collateral be at the location of the sale.

            e) Application of Proceeds. Secured Party shall apply the proceeds
of any sale or other disposition of the Collateral under this SECTION 9 in the
following order: First, to the payment of all its reasonable expenses incurred
in retaking, holding, and preparing any of the Collateral for sale(s) or other
disposition, in arranging for such sale(s) or other disposition, and in actually
selling or disposing of the same (all of which are part of the Obligations);
second, toward repayment of amounts reasonably expended by Secured Party under
SECTION 10; third, toward payment of the balance of the Obligations in the order
and manner specified in the Credit Agreement. Any surplus remaining shall be
delivered to Debtors or as a court of competent jurisdiction may direct.

            f) Sale. Secured Party's sale of less than all the Collateral shall
not exhaust Secured Party's rights under this Agreement and Secured Party is
specifically empowered to make successive sales until all the Collateral is
sold. If the proceeds of a sale of less than all the Collateral shall be less
than the Obligations, this Agreement and the Security Interest shall remain in
full force and effect as to the unsold portion of the Collateral just as though
no sale had

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been made. In the event any sale under this Agreement is not completed or is, in
Secured Party's opinion, defective, such sale shall not exhaust Secured Party's
rights under this Agreement and Secured Party shall have the right to cause a
subsequent sale or sales to be made. Any and all statements of fact or other
recitals made in any bill of sale or assignment or other instrument evidencing
any foreclosure sale under this Agreement as to nonpayment of the Obligations,
or as to the occurrence of any Default, or as to Secured Party's having declared
all of such Obligations to be due and payable, or as to notice of time, place
and terms of sale and the properties to be sold having been duly given, to, as
to any other act or thing having been duly done by Secured Party, shall be taken
as prima facie evidence of the truth of the facts so stated and recited. Secured
Party may appoint or delegate any one or more Persons as agent to perform any
act or acts necessary or incident to any sale held by Secured Party, including
the sending of notices and the conduct of sale, but such acts must be done in
the name and on behalf of Secured Party.

            g) Existence of Default. Regarding the existence of any Default for
purposes of this Agreement, Debtors agree that the Obligor on any Collateral may
rely upon written certification from Secured Party that such a Default exists.
Subject to the terms of the Credit Agreement, Debtors expressly agree that
Secured Party shall not be liable to Debtors for any claims, damages, costs,
expenses or causes of action of any nature whatsoever in connection with,
arising out of, or related to Secured Party's exercise of any rights, powers or
remedies under any Loan Paper except for its own fraud, gross negligence,
willful misconduct or violation of any Law.

      10. Other Rights of Secured Party.

            a) Performance. In the event a Debtor fails to preserve the priority
of the Security Interest in any of the Collateral, or, upon the occurrence and
during the continuance of a Default, otherwise fails to perform any of its
Obligations under the Loan Papers with respect to the Collateral, then Secured
Party may (but is not required to) prosecute or defend any suits in relation to
the Collateral or take any other action which such Debtor is required to take
under the Loan Papers, but has failed to take. Any sum which may be reasonably
expended or paid by Secured Party under this subparagraph (including, without
limitation, court costs and reasonable attorneys' fees and expenses) shall bear
interest from the date of notice to Debtors of such expenditure or payment at
the Default Rate until paid and, together with such interest, shall be payable
by such Debtor to Secured Party upon demand and shall be part of the
Obligations.

            b) Collateral in Secured Party's Possession. If, upon the occurrence
and during the continuance of a Default, any Collateral comes into Secured
Party's possession, Secured Party may use such Collateral for the purpose of
preserving it or its value pursuant to the order of a court of appropriate
jurisdiction or in accordance with any other rights held by Secured Party in
respect of such Collateral. Debtors covenant to promptly reimburse and pay to
Secured Party, at Secured Party's request, the amount of all reasonable expenses
incurred by Secured Party in connection with its custody and preservation of
such Collateral, and all such expenses, costs, Taxes, and other charges shall
bear interest at the Default Rate from the date of notice to Debtors of such
expenses and costs until repaid and, together with such interest, shall be
payable by Debtors to Secured Party upon demand and shall be part of the
Obligations. However, the risk of accidental loss or damage to, or diminution in
value of, Collateral is on Debtors, except for Secured Party's own fraud, gross
negligence, willful misconduct or violation of any Law.

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Provided that Secured Party acts in accordance with all applicable Laws, Secured
Party shall have no liability for failure to obtain or maintain insurance, nor
to determine whether any insurance ever in force is adequate as to amount or as
to the risks insured. With respect to Collateral that is in the possession of
Secured Party, except for its own fraud, gross negligence, willful misconduct or
violation of any Law, Secured Party shall have no duty to fix or preserve rights
against prior parties to such Collateral and shall never be liable for any
failure to use diligence to collect any amount payable in respect of such
Collateral, but shall be liable only to account to Debtors for what it may
actually collect or receive thereon.

            c) Subrogation. If any of the Obligations is given in renewal or
extension or applied toward the payment of indebtedness secured by any Lien,
Secured Party shall be, and is hereby, subrogated to all of the rights, titles,
interests, and Liens securing the indebtedness so renewed, extended, or paid.

      11. Miscellaneous.

            a) Reference to Miscellaneous Provisions. This Agreement is one of
the "Loan Papers" referred to in the Credit Agreement, and, therefore, this
Agreement is subject to the applicable provisions of Article 14 of the Credit
Agreement, all of which are incorporated in this Agreement by reference the same
as if set forth in this Agreement verbatim.

            b) Term. Upon full and final payment of the Obligations and final
termination of the Lenders' commitment to make advances and under the Credit
Agreement without Secured Party having exercised its rights under this
Agreement, this Agreement and all the Liens of the Administrative Agent and the
Lenders on the Collateral shall automatically terminate; provided that no
Obligor on any of the Collateral shall be obligated to require as to the
termination of this Agreement, but shall be fully protected in making payment
directly to Secured Party, which payment shall be promptly paid over to Debtors
after termination of this Agreement.

            c) Actions Not Releases. The Security Interest and Debtors'
Obligations and Secured Party's rights under this Agreement shall not be
released, diminished, impaired, or adversely affected by the occurrence of any
one or more of the following events: (i) the taking or accepting of any other
security or assurance for any or all of the Obligations; (ii) any release,
surrender, exchange, subordination, or loss of any security or assurance at any
time existing in connection with any or all of the Obligations; (iii) the
modification of, amendment to, or waiver of compliance with any terms of any of
the other Loan Papers without the consent of Debtors, except as required
therein; (iv) the insolvency, bankruptcy, or lack of corporate or trust power of
any party at any time liable for the payment of any or all of the Obligations,
whether now existing or hereafter occurring; (v) any renewal, extension, or
rearrangement of the payment of any or all of the Obligations, either with or
without notice to or consent of Debtors, or any adjustment, indulgence,
forbearance, or compromise that may be granted or given by Secured Party to
Debtors, in each case, except as required by the Loan Papers; (vi) any neglect,
delay, omission, failure, or refusal of Secured Party to take or prosecute any
action in connection with any other agreement, document, guaranty, or instrument
evidencing, securing, or assuring the payment of all or any of the Obligations;
(vii) any failure of Secured Party to notify Debtors of any renewal, extension,
or assignment of the Obligations or any part thereof, or the release of

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any security under any other document or instrument, or of any other action
taken or refrained from being taken by Secured Party against Debtors or any new
agreement between Secured Party and Debtors, it being understood that, except as
expressly required by the Credit Agreement, Secured Party shall not be required
to give Debtors any notice of any kind under any circumstances whatsoever with
respect to or in connection with the Obligations, including, without limitation,
notice of acceptance of this Agreement or any Collateral ever delivered to or
for the account of Secured Party under this Agreement; (viii) the illegality,
invalidity, or unenforceability of all or any part of the Obligations against
any third party obligated with respect thereto by reason of the fact that the
Obligations, or the interest paid or payable with respect thereto, exceeds the
amount permitted by Law, the act of creating the Obligations, or any part
thereof, is ultra vires, or the officers, partners, or trustees creating same
acted in excess of their authority, or for any other reason; or (ix) if any
payment by any party obligated with respect thereto is held to constitute a
preference under applicable Laws or for any other reason Secured Party is
required to refund such payment or pay the amount thereof to someone else.

            d) Waivers. Except to the extent expressly otherwise provided in
this Agreement or in other Loan Papers, Debtors waive (i) any Right to require
Secured Party to proceed against any other Person, to exhaust its rights in
Collateral, or to pursue any other Right which Secured Party may have; (ii) with
respect to the Obligations, presentment and demand for payment, protest, notice
of protest and nonpayment, notice of acceleration, and notice of the intention
to accelerate; and (iii) all rights of marshaling in respect of any and all of
the Collateral.

            e) Financing Statement. Secured Party shall be entitled at any time
to file this Agreement or a carbon, photographic, or other reproduction of this
Agreement, as a financing statement, but the failure of Secured Party to do so
shall not impair the validity or enforceability of this Agreement.

            f) Amendments. This Agreement may only be amended by a writing
executed by Debtors and Secured Party.

            g) Multiple Counterparts. This Agreement may be executed in any
number of identical counterparts. Each counterpart shall be deemed an original
for all purposes and all counterparts, collectively, shall constitute one
Agreement. In making proof of this Agreement, it shall not be necessary to
produce or account for more than one set of counterpart signatures.

            h) Parties Bound. This Agreement shall be binding on Debtors and
their successors and assigns and shall inure to the benefit of Secured Party and
its successors and assigns. The Obligations and agreements of Debtors under this
Agreement shall be binding upon their successors and assigns, and, except for
Secured Party's fraud, gross negligence, willful misconduct, and violation of
any applicable Law, delivery or other accounting of Collateral to Debtors shall
discharge Secured Party of all liability therefor.

            i) Assignment. Debtors may not, without Secured Party's prior
written consent, assign any rights, duties, or Obligations under this Agreement.

            j) Notice. Any notice or communication required or permitted under
this Agreement must be given as prescribed in the Credit Agreement.

                                       89
<PAGE>

            k) Governing Law. THIS AGREEMENT SHALL BE GOVERNED, CONSTRUED, AND
ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND, AS
APPLICABLE, THE LAWS OF THE UNITED STATES OF AMERICA.

         [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.]

                                       90
<PAGE>

               EXECUTED as of the date set forth in the preamble.

                                   MONRO MUFFLER BRAKE, INC.,
                                   a New York corporation

                                   By: _________________________________________
                                          Catherine D'Amico, Executive
                                          Vice President of Finance, Chief
                                          Financial Officer, and Treasurer

                                   MONRO LEASING, LLC, a Delaware limited
                                   liability company

                                   By:  MONRO MUFFLER BRAKE, INC.,
                                        its Sole Member

                                        By: ____________________________________
                                               Catherine D'Amico, Executive Vice
                                               President of Finance, Chief
                                               Financial Officer, and Treasurer

                                   MONRO SERVICE CORPORATION,
                                   a Delaware corporation

                                   By: _________________________________________
                                               Catherine D'Amico, Treasurer

                                   CHARTER ONE BANK, N.A.,
                                   as Administrative Agent

                                   By: _________________________________________
                                   Name: _______________________________________
                                   Title: ______________________________________

                                       91
<PAGE>

                                            SCHEDULE 1

LOCATION OF (1) BOOKS AND RECORDS AS TO ACCOUNTS, (2) CHIEF EXECUTIVE OFFICE,
AND (3) PLACE OF FORMATION:

            Monro Muffler Brake, Inc.
            a New York corporation
            200 Holleder Parkway
            Rochester, New York 14615

            Monro Leasing, LLC
            a Delaware limited liability company
            200 Holleder Parkway
            Rochester, New York 14615

            Monro Service Corporation
            a Delaware corporation
            200 Holleder Parkway
            Rochester, New York 14615

                                       92<PAGE>

                                                                    Exhibit 10.3

                                    GUARANTY
                                (this "GUARANTY")

                               As of July 13 2005

Charter One Bank, N.A., as Administrative
   Agent for the Lenders described below
71 South Wacker Drive
Suite 2900
Chicago, Illinois 60603

      Re:   Credit Agreement dated as of July 13, 2005 (as amended,
            restated, supplemented or otherwise modified from time to time,
            the "CREDIT AGREEMENT") by and among Monro Muffler Brake,
            Inc. as the Borrower (the "BORROWER"), the several banks party
            thereto from time to time (the "LENDERS"), and Charter One
            Bank, N.A., as Administrative Agent (the "ADMINISTRATIVE
            Agent").

Ladies and Gentlemen:

      1. Guaranty. For value received, and in consideration of Borrower entering
into the Credit Agreement, the undersigned corporation (the "GUARANTOR"), does
hereby irrevocably, absolutely, and unconditionally guarantee (a) payment, when
due, of any and all indebtedness and other amounts of every kind, howsoever
created, arising, or evidenced, whether direct or indirect, absolute or
contingent, now or hereafter existing or owing to the Lenders or the
Administrative Agent, by Borrower under the Notes as defined in the Credit
Agreement, (including, without limitation, amounts that would become due but for
operation of any applicable provision of Title 11 of the United States Code
(including, without limitation, 11 U.S.C. Sections 502 and 506)), together with
all pre- and post-maturity interest thereon (including, without limitation, all
post-petition interest if Borrower voluntarily or involuntarily files for
bankruptcy protection) (all such obligations being hereinafter collectively
referred to as the "LIABILITIES") and (b) the performance by Borrower of its
obligations under the Loan Papers pursuant to the terms thereof (the
"OBLIGATIONS"). The Guarantor has a substantial, direct or indirect, financial
interest in the benefits and advantages which will result from the Credit
Agreement. The Guarantor hereby agrees that, upon any Default, the Guarantor
will forthwith pay the Liabilities as limited by this paragraph immediately upon
written demand or perform the Obligations.

      2. Guaranty Continuing, Absolute, Unlimited. This Guaranty is a
continuing, absolute, and unlimited Guaranty of payment and the Guarantor is a
primary obligor and not a surety. The Liabilities and Obligations shall be
conclusively presumed to have been created in reliance on this Guaranty. The
Administrative Agent shall not be required to proceed first against Borrower or
any other person, firm or corporation or against any property securing any

                                       93
<PAGE>

of the Liabilities or Obligations before resorting to the Guarantor for payment
or performance. To the extent permitted by applicable law, this Guaranty shall
be construed as a guarantee of payment without regard to the enforceability of
any of the Liabilities or Obligations or the rejection of the Credit Agreement
in bankruptcy, and notwithstanding any claim, defense (other than payment or
performance by Borrower or the Guarantor) or right of setoff which Borrower or
the Guarantor may have against any Lender or the Administrative Agent, including
any such claim, defense, or right of setoff based on any present or future law
or order of any government (de jure or de facto), or of any agency thereof or
court of law purporting to reduce, amend, or otherwise affect any of the
Liabilities or Obligations of Borrower or any other obligor, or to vary any
terms of payment thereof, and without regard to any other circumstances which
might otherwise constitute a legal or equitable discharge of a surety or a
guarantor. The Guarantor agrees that this Guaranty shall continue to be
effective or be reinstated, as the case may be, if at any time payment to the
Lenders or the Administrative Agent of the Liabilities or any part thereof is
rescinded or must otherwise be returned by any Lender or the Administrative
Agent upon the insolvency, bankruptcy, or reorganization of Borrower, or
otherwise, as though such payment to such Lender or the Administrative Agent had
not been made. To the extent permitted by applicable law, the Guarantor's
obligation to fully pay or perform the Liabilities and any remedy for the
enforcement thereof shall not be impaired, modified, released, or limited in any
way by any impairment, modification, release, or limitation of the liability of
Borrower or its bankruptcy estate, resulting from the operation of any present
or future provision of any Debtor Relief Law or from the decision of any court
interpreting the same.

      3. Guaranty Not Affected by Change in Security or Other Actions. The
Administrative Agent and the Lenders may, from time to time, without the consent
of or notice to the Guarantor, take any or all of the following actions without
impairing or affecting (except insofar as the Liabilities are reduced or
modified thereby), the Guarantor's obligations under this Guaranty or releasing
or exonerating the Guarantor from any of its liabilities hereunder:

         a. retain or obtain a security interest in any property to secure any
            of the Liabilities or any obligation hereunder;

         b. retain or obtain the primary or secondary liability of any party or
            parties, in addition to the Guarantor, with respect to any of the
            Liabilities;

         c. extend the time or change the manner, place or terms of payment of,
            or renew or amend any note or other instrument evidencing the
            Liabilities or any part thereof, or amend in any manner any
            agreement relating thereto, in each case in accordance with the
            terms of each such agreement;

         d. release or compromise, in whole or in part, or accept full or
            partial payment for, any of the Liabilities hereby guaranteed, or
            any liability of any nature of any other party or parties with
            respect to the Liabilities or any security therefore;

                                       94
<PAGE>

         e. enforce the Administrative Agent's or the Lenders' security
            interest, if any, in all or any properties securing any of the
            Liabilities or any obligations hereunder in order to obtain full or
            partial payment of the Liabilities then outstanding; or

         f. release or fail to perfect, protect, or enforce the Administrative
            Agent's or the Lenders' security interest, if any, in all or any
            properties securing any of the Liabilities or any obligation
            hereunder, or permit any substitution or exchange for any such
            property.

      4. Waivers. The Guarantor hereby expressly waives to the extent permitted
by law:

         a. notice of acceptance of this Guaranty;

         b. notice of the existence or incurrence of any or all of the
            Liabilities in accordance with the Loan Papers;

         c. presentment, demand, notice of dishonor, protest, and all other
            notices whatsoever (except the written demand referred to in SECTION
            1 hereinabove);

         d. any requirement that proceedings first be instituted by the
            Administrative Agent or any Lender against the Borrower;

         e. all diligence in collection or protection of or realization upon the
            Liabilities or any part thereof, or any obligation hereunder, or any
            collateral for any of the foregoing;

         f. any rights or defenses based on the Administrative Agent's or a
            Lender's election of remedies, including any defense to the
            Administrative Agent's or Lender's action to recover any deficiency
            after a non-judicial sale; and

         g. the occurrence of every other condition precedent to which the
            Guarantor might otherwise be entitled.

      5. Definitions. As used in this Guaranty, capitalized terms not otherwise
defined herein will have the meanings given them in the Credit Agreement.

      6. Representations, Warranties and Agreements of Guarantor. The Guarantor
represents and warrants to the Administrative Agent and the Lenders that:

         a. Corporate Existence, Good Standing, Authority and Compliance. The
            Guarantor is duly organized, validly existing and in good standing
            under the Laws of the jurisdiction in which it is incorporated.
            Except where failure is not a Material Adverse Event, the Guarantor
            (a) is duly qualified to transact business and is in good standing
            as a foreign corporation or other entity in each jurisdiction where
            the nature and extent of its business and properties require due
            qualification and good standing, (b) possesses all requisite
            authority, permits and power to conduct

                                       95
<PAGE>

            its business as is now being, or is contemplated to be, conducted,
            and (c) is in compliance with all applicable Laws, except in each
            case where the failure to so qualify, to possess such authority,
            permits or power or to comply with such Law would not cause a
            Material Adverse Event.

         b. Authorization and Contravention. The execution and delivery by the
            Guarantor of this Guaranty or related document to which it is a
            party and the performance by it of its obligations thereunder (a)
            are within its corporate power, (b) have been duly authorized by all
            necessary corporate action, (c) require no action by or filing with
            any Tribunal (other than any action or filing that has been taken or
            made on or before the date of this Guaranty or which would not cause
            a Material Adverse Event), (d) do not violate any provision of its
            charter or bylaws, (e) do not violate any provision of Law or order
            of any Tribunal applicable to it, other than violations that
            individually or collectively are not a Material Adverse Event, (f)
            do not violate any Material Agreements to which it is a party, other
            than a violation which would not cause a Material Adverse Event, (g)
            do not result in the creation or imposition of any Lien (other than
            the Lender Liens) on any asset of the Guarantor, (h) are in
            furtherance of the corporate purposes of the Guarantor and (i) do
            not require the consent or approval of the shareholders of the
            Guarantor.

         c. Binding Effect. Upon execution and delivery by all parties thereto,
            this Guaranty will constitute a legal and binding obligation of the
            Guarantor, enforceable against it in accordance with its terms,
            except as enforceability may be limited by applicable Debtor Relief
            Laws and general principles of equity.

         d. Consideration. Guarantor represents and warrants that the value of
            the consideration received and to be received by it is reasonably
            worth at least as much as its liability under this Guaranty, and
            such liability may reasonably be expected to benefit Guarantor
            directly or indirectly. NOTWITHSTANDING ANY CONTRARY PROVISION IN
            THIS GUARANTY, GUARANTOR'S MAXIMUM LIABILITY HEREUNDER IS LIMITED,
            TO THE EXTENT, IF ANY, REQUIRED SO THAT ITS LIABILITY IS NOT SUBJECT
            TO AVOIDANCE UNDER ANY DEBTOR RELIEF LAW.

         e. Solvency. As of the date of this Guaranty, the Guarantor is, and
            after giving effect to this Guaranty, will be, Solvent.

      7. Events of Default.

         a. Loan Papers. The failure of Borrower to pay any part of the
            Liabilities within five (5) Business Days after it becomes due and
            payable under the Loan Papers or the occurrence and continuation of
            a Default under any Loan Paper.

                                       96
<PAGE>

         b. Debtor Relief. Guarantor (a) is not Solvent, (b) fails to pay its
            Debts generally as they become due, (c) voluntarily seeks, consents
            to, or acquiesces in the benefit of any Debtor Relief Law, or (d)
            becomes a party to or is made the subject of any proceeding provided
            for by any Debtor Relief Law, other than as a creditor or claimant,
            that could suspend or otherwise adversely affect the Rights of
            Administrative Agent or Lenders granted in the Loan Papers (unless,
            if the proceeding is involuntary, the applicable petition is
            dismissed within sixty (60) days after its filing).

         c. Government Action. (a) A final non-appealable order is issued by any
            Tribunal (including, but not limited to, the United States Justice
            Department) seeking to cause Guarantor to divest a significant
            portion of its assets under any antitrust, restraint of trade,
            unfair competition, industry regulation or similar Laws, or (b) any
            Tribunal condemns, seizes or otherwise appropriates, or takes
            custody or control of all or any substantial portion of the assets
            of Guarantor.

         d. Misrepresentation. Any material representation or warranty made by
            Guarantor contained herein or in any Loan Paper at any time proves
            to have been materially incorrect when made.

      8. Remedies Upon Default. Without limiting any other rights or remedies of
the Administrative Agent or the Lenders provided for elsewhere in this Guaranty
or the Loan Papers, or by any requirement of Law, or in equity, or otherwise:

         a. Upon the occurrence of any Default, the Lenders may without any
            notice to (except as expressly provided herein or in and during the
            continuance of any Loan Paper) or demand upon Guarantor, which are
            expressly waived by Guarantor (except as to notices expressly
            provided for herein or in any Loan Paper), proceed to protect,
            exercise and enforce the rights and remedies of the Lenders against
            Guarantor hereunder or under the Loan Papers and such other rights
            and remedies as are provided by requirement of Law or equity.

         b. The rights provided for in this Guaranty and the Loan Papers are
            cumulative and are not exclusive of any other rights, powers,
            privileges or remedies provided by law or in equity, or under any
            other instrument, document or agreement now existing or hereafter
            arising.

         c. The order and manner in which the Lenders' rights and remedies upon
            the occurrence and during the continuance of a Default are to be
            exercised shall be determined by the Administrative Agent or the
            Lenders, as the case may be, in its sole discretion, and all
            payments received by the Administrative Agent shall be applied first
            to the costs and expenses (including reasonable attorney's fees
            incurred by the Administrative Agent and Lenders) of the
            Administrative Agent and Lenders, then to the payment of all accrued
            and unpaid amounts due under any Loan Papers to and including the
            date of such application. To the extent

                                       97
<PAGE>

            permitted by applicable law, no application of payments will cure
            any Default, or prevent acceleration, or continued acceleration, of
            amounts payable under the Loan Papers, or prevent the exercise, or
            continued exercise, of rights or remedies of the Administrative
            Agent and Lenders hereunder or thereunder or under any requirement
            of Law or in equity.

      9. Payments. Each payment by the Guarantor to the Administrative Agent
under this Guaranty shall be made by transferring the amount thereof in
immediately available funds without set-off or counterclaim.

      10. Costs, Expenses and Taxes. The Guarantor agrees to pay on demand: (i)
all reasonable out of pocket costs and expenses of the Administrative Agent in
connection with the preparation, execution and delivery of this Guaranty and any
other documents to be delivered hereunder, including the reasonable fees and out
of pocket expenses of counsel for the Administrative Agent with respect thereto
and with respect to advising the Administrative Agent as to its rights and
responsibilities under this Guaranty, and any modification, supplement or waiver
of any of the terms of this Guaranty, (ii) all reasonable costs and expenses of
the Administrative Agent hereunder, including reasonable legal fees and expenses
of counsel to the Agent, in connection with a default or the enforcement of this
Guaranty and (iii) reasonable costs and expenses incurred in connection with
third party professional services reasonably required by the Administrative
Agent pursuant to the Loan Papers such as appraisers, environmental consultants,
accountants or similar Persons; provided that except during the continuance of
any Default hereunder, the Administrative Agent will first obtain the consent of
the Guarantor to such expense, which consent shall not be unreasonably withheld.
Without prejudice to the survival of any other obligations of the Guarantor
hereunder, the obligations of the Guarantor under this Section shall survive the
termination of this Guaranty.

      11. Subrogation. The Guarantor shall not be subrogated to, in whole or in
part, and agrees not to exercise any rights of subrogation with respect to, the
rights of the Administrative Agent or any Lender or those of any subsequent
assignee or transferee of any of the Liabilities until all the Liabilities to
the Administrative Agent and the Lenders and every such subsequent assignee or
transferee shall have been paid in full. The provisions of this SECTION 11 shall
survive the termination of this Guaranty and any satisfaction and discharge of
Borrower by virtue of any payment, court order, or law.

      12. No Waiver; Remedies. No failure on the part of the Administrative
Agent to exercise, and no delay in exercising, any right hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any such right,
or any abandonment or discontinuance of any steps to enforce such right,
preclude any other or further exercise thereof or the exercise of any other
right. No notice to or demand on the Guarantor in any case shall entitle the
Guarantor to any other or further notice or demand in similar or other
circumstances. The remedies herein are cumulative and not exclusive of any other
remedies provided by law, at equity or in any other agreement.

                                       98
<PAGE>

      13. Survival of Representations and Warranties. All representations,
warranties and covenants contained herein or made in writing by the Guarantor in
connection herewith shall survive the execution and delivery of this Guaranty,
and the termination of the Loan Papers and will bind and inure to the benefit of
the respective successors and assigns of the parties hereto, whether so
expressed or not.

      14. Confidentiality. The Administrative Agent and each Lender agree to
keep any information delivered or made available by the Guarantor to it which is
clearly indicated to be confidential information, confidential from anyone other
than Persons employed or retained by the Administrative Agent who are or are
expected to become engaged in evaluating, approving, structuring or
administering the Loan Papers; provided that nothing herein shall prevent the
Administrative Agent or any Lender from disclosing such information (a) to any
Lender, (b) pursuant to subpoena or upon the order of any court or
administrative agency, (c) upon the request or demand of any regulatory agency
or authority having jurisdiction over Administrative Agent or any Lender, (d)
which has been publicly disclosed, (e) to the extent reasonably required in
connection with any litigation to which the Administrative Agent, any Lender,
the Borrower, the Guarantor or their respective Affiliates may be a party, (f)
to the extent reasonably required in connection with the exercise of any remedy
hereunder, (g) to any Lender's legal counsel and independent auditors. The
Administrative Agent will promptly notify the Guarantor of any information that
it is required or requested to deliver pursuant to clause (b) or (c) of this
SECTION 14 and, if the Guarantor is a party to any such litigation, CLAUSE (e)
of this SECTION 14.

      15. Separability. Should any clause, sentence, paragraph or Section of
this Guaranty be judicially declared to be invalid, unenforceable or void, such
decision will not have the effect of invalidating or voiding the remainder of
this Guaranty, and the parties hereto agree that the part or parts of this
Guaranty so held to be invalid, unenforceable or void will be deemed to have
been stricken herefrom and the remainder will have the same force and
effectiveness as if such part or parts had never been included herein.

      16. Execution in Counterparts. This Guaranty may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same agreement.

      17. Interpretation.

            c.    In this Guaranty, unless a clear contrary intention appears:

                  i.    the singular number includes the plural number and vice
                        versa;

                  ii.   reference to any gender includes each other gender;

                  iii.  the words "herein," "hereof" and "hereunder" and other
                        words of similar import refer to this Guaranty as a
                        whole and not to any particular Article, Section or
                        other subdivision;

                                       99
<PAGE>

                  iv.   reference to any Person includes such Person's
                        successors and assigns but, if applicable, only if such
                        successors and assigns are not prohibited by this
                        Guaranty, and reference to a Person in a particular
                        capacity excludes such Person in any other capacity or
                        individually; provided that nothing in this clause is
                        intended to authorize any assignment not otherwise
                        permitted by this Guaranty;

                  v.    except as expressly provided to the contrary herein,
                        reference to any agreement, document or instrument
                        (including this Guaranty) means such agreement, document
                        or instrument as amended, supplemented or modified and
                        in effect from time to time in accordance with the terms
                        thereof and, if applicable, the terms hereof;

                  vi.   unless the context indicates otherwise, reference to any
                        Article, Section, Schedule or Exhibit means such Article
                        or Section hereof or such Schedule or Exhibit hereto;

                  vii.  the word "including" (and with correlative meaning
                        "include") means including, without limiting the
                        generality of any description preceding such term;

                  viii. with respect to the determination of any period of time,
                        except as expressly provided to the contrary, the word
                        "from" means "from and including" and the word "to"
                        means "to but excluding"; and

                  ix.   reference to any law, rule or regulation means such as
                        amended, modified, codified or reenacted, in whole or in
                        part, and in effect from time to time.

            b.    The Article and Section headings herein are for convenience
                  only and shall not affect the construction hereof.

            c.    No provision of this Guaranty shall be interpreted or
                  construed against any Person solely because that Person or its
                  legal representative drafted such provision.

      18. Submission to Jurisdiction. The Guarantor, to the extent permitted by
applicable law, hereby agrees as follows:

            a.    ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY
                  MAY BE BROUGHT IN THE STATE COURTS OF NEW YORK, LOCATED IN THE
                  BOROUGH OF MANHATTAN OR OF THE UNITED STATES DISTRICT COURT
                  FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND
                  DELIVERY OF THIS GUARANTY, THE GUARANTOR HEREBY IRREVOCABLY
                  ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY,
                  UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID

                                      100
<PAGE>

                  COURTS WITH RESPECT TO ANY SUCH ACTION OR PROCEEDING. THE
                  GUARANTOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF
                  PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH
                  ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY
                  REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO IT AT ITS
                  ADDRESS PROVIDED IN SECTION 21, SUCH SERVICE TO BECOME
                  EFFECTIVE THIRTY (30) DAYS AFTER SUCH MAILING. NOTHING HEREIN
                  SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY
                  LENDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW
                  OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST
                  THE GUARANTOR IN ANY OTHER JURISDICTION.

            b.    THE GUARANTOR HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT
                  MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE
                  AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN
                  CONNECTION WITH THIS GUARANTY BROUGHT IN THE COURTS REFERRED
                  TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES
                  AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY
                  SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN
                  BROUGHT IN AN INCONVENIENT FORUM.

      19. Waiver of Jury Trial. THE GUARANTOR HEREBY WAIVES, TO THE EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR
PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS GUARANTY OR UNDER ANY
AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE
FUTURE BE DELIVERED IN CONNECTION HEREWITH, AND AGREES, TO THE EXTENT PERMITTED
BY APPLICABLE LAW, THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A
COURT AND NOT BEFORE A JURY.

      20. Parties. This Guaranty shall inure to the benefit of the
Administrative Agent and the Lenders and their respective successors, assigns or
transferees, and shall be binding upon the Guarantor and its successors and
assigns. The Guarantor may not assign any of its duties under this Guaranty
without the prior written consent of the Administrative Agent. The
Administrative Agent and the Lenders may assign their respective Rights and
benefits under this Guaranty to any Participant or Purchaser in accordance with
the provisions of Section 14.12 of the Credit Agreement.

      21. Notices. All notices, consents, requests, approvals, demands and other
communications provided for herein shall be in writing (including telecopy
communications) and mailed, telecopied, sent by overnight courier or delivered:

                                      101
<PAGE>

                  a.    If to the Guarantor:

                        Monro Service Corporation
                        200 Holleder Parkway
                        Rochester, New York 14615
                        Attention: Catherine D'Amico, Senior Vice
                                   President and Chief Financial officer
                        telephone: (585) 647-6400
                        telecopy:  (585) 627-0941

                  b.    If to the Administrative Agent:

                        Charter One Bank, N.A.
                        71 South Wacker Drive
                        Suite 2900
                        Chicago, Illinois 60606
                        Attention: Stephanie Epkins
                                   Vice President, Corporate Banking
                        telecopy:  (312) 777-3494
                        telephone: (312) 777-3411

                        with a copy to

                        Emmet, Marvin & Martin, LLP
                        120 Broadway
                        New York, New York 10271
                        Attention: Richard S. Talesnick
                        telecopy:  (212) 238-3100
                        telephone: (212) 238-3046

            c. or, in the case of any party hereto, such other address or
            telecopy number as such party may hereafter specify for such purpose
            by notice to the other parties given in accordance with the
            provisions of this SECTION 21.

            Other than the service of process set forth in SECTION 18(a) above,
all communications shall be effective three (3) Business Days after the date
when mailed by certified mail, return receipt requested postage prepaid to any
party at its address specified above, or upon receipt if telecopied to any party
to the telecopy number set forth above, or upon receipt if delivered personally
to any party at its address specified above.

      22. Term. This Guaranty is not limited to any particular period of time,
but shall continue in full force and effect until all of the Liabilities have
been fully and finally paid or have been otherwise discharged by the
Administrative Agent and the Lenders, and the Guarantor shall not be released
from any obligation or liability hereunder until such full payment or discharge
shall have occurred.

      23. Governing Law. This Guaranty and all other documents executed in
connection herewith shall be deemed to be contracts and agreements executed by
the Guarantor and

                                      102
<PAGE>

Administrative Agent under the laws of the State of New York and of the United
States of America and for all purposes shall be construed in accordance with,
and governed by, the laws of said state and of the United States of America.

      24. Indemnity.

            a. The Guarantor shall indemnify the Administrative Agent, each
   Lender and each Affiliate thereof and their respective directors, officers,
   employees and agents (each, an "INDEMNIFIED PERSON") from, and hold each of
   them harmless against, any and all losses, liabilities, claims or damages
   (including reasonable legal fees and expenses) to which any of them may
   become subject, insofar as such losses, liabilities, claims or damages arise
   out of or result from any actual or proposed use by the Borrower of the
   proceeds of any extension of credit or any investigation, litigation or other
   proceeding (including any threatened investigation or proceeding) relating to
   the foregoing or any of the Loan Papers, and the Guarantor shall assume the
   defense thereof, including the employment of counsel at Guarantor's expense;
   provided that Guarantor shall not have such right, to the extent that such
   Indemnified Person shall deliver to Guarantor a written notice waiving the
   benefits of the indemnification of such Indemnified Person provided by this
   SECTION 24(a) in connection with such claim, action, proceeding or suit.
   Notwithstanding the foregoing, if independent counsel to such Indemnified
   Person shall conclude that there may be defenses available to such
   Indemnified Person which may conflict with those available to Guarantor,
   Guarantor shall not have the right to assume the defense of any such claim,
   action, proceeding or suit on behalf of such Indemnified Person if such
   Indemnified Person chooses to defend such claim, action, proceeding or suit
   (with counsel reasonably acceptable to Guarantor), and all reasonable costs,
   expenses and attorneys' fees incurred by the Indemnified Person in defending
   such claim, action, proceeding or suit shall be borne by Guarantor; provided
   however, if there is more than one (1) Indemnified Person having a right to
   defend such claim, action, proceeding or suit as aforesaid, the obligation of
   Guarantor to pay the fees and expenses of such Indemnified Person shall be
   limited to one (1) firm of attorneys. Any Indemnified Person shall also have
   the right to employ separate counsel and to participate in its defense, but
   the fees and expenses of such counsel shall be borne by such Indemnified
   Person. Any decision by an Indemnified Person to employ its own counsel
   (whether or not at Guarantor's expense) shall in no way affect any rights of
   such Indemnified Person otherwise arising under this SECTION 24(a). In
   addition, Guarantor will not be liable for any settlement of any claim,
   action, proceeding or suit unless Guarantor has consented thereto in writing.
   The foregoing indemnity and agreement to hold harmless shall not in any event
   apply to any losses, liabilities, claims, damages or expenses incurred by
   reason of (i) the gross negligence or willful misconduct of the Person to be
   indemnified, or (ii) any material default by the Administrative Agent or any
   Lender that is not cured within any applicable cure period, if any, under any
   of the Loan Papers.

            b. Without limiting any provision of this Guaranty, it is the
   express intention of the parties hereto that each Person to be indemnified
   hereunder or thereunder shall be indemnified and held harmless against any
   and all losses, liabilities, claims or damages: (i) arising out of or
   resulting from the ordinary sole or contributory negligence of such Person

                                      103
<PAGE>

      or (ii) imposed upon said party under any theory or strict liability.
      Without prejudice to the survival of any other obligations of the
      Guarantor hereunder and under the Loan Papers, the obligations of the
      Guarantor under this Section shall survive the termination of this
      Guaranty and the Loan Papers and the payment of the Liabilities.

            25. New Guaranty. In the event that (i) any Loan Paper is rejected
   by a trustee or debtor-in-possession in any bankruptcy or insolvency
   proceeding involving the Borrower or (ii) any Loan Paper or this Guaranty is
   terminated as a result of any bankruptcy or insolvency proceeding involving
   the Borrower and, if within sixty (60) days after such rejection or
   termination, the Administrative Agent or its designee shall so request and
   shall certify in writing to the Guarantor that it intends to perform the
   obligations of the Borrower as and to the extent required under such Loan
   Paper or this Guaranty, as applicable, the Guarantor will, unless prohibited
   by bankruptcy or other applicable law, execute and deliver to the
   Administrative Agent or such designee, a new Guaranty that shall contain the
   same conditions, agreements, terms, provisions and limitations as such
   original Guaranty (except for any requirements which have been fulfilled by
   the Borrower and the Guarantor prior to such rejection or termination).

                                   Sincerely yours,

                                   MONRO SERVICE CORPORATION,
                                   a Delaware corporation

                                   By: _________________________________________
                                   Name:________________________________________
                                   Title:_______________________________________

         ACCEPTED AND AGREED as of the date first above written:

                                   CHARTER ONE BANK, N.A.,
                                   as Administrative Agent

                                   By:__________________________________________
                                   Name:________________________________________
                                   Title:_______________________________________

                                      104

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