Document:

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                                                                     Exhibit 4.4
                       ASSIGNMENT AND SECURITY AGREEMENT

     AGREEMENT made this 20th day of August, 1996 by and between Red Bell
Brewery & Pub Company, a Pennsylvania corporation with offices located at 3100
Jefferson Street, Philadelphia, PA, 19121 (the "Borrower") and CoreStates Bank,
N.A., a national banking association with offices at 1345 Chestnut Street, 3rd
Floor, Philadelphia, PA 19107 (the "Bank").

BACKGROUND

     The Borrower has entered into an agreement (the "Facility Agreement") dated
_________________, 1996 with ARAMARK Leisure Services, Inc., a Delaware
corporation ("ARAMARK"), pursuant to which the Borrower and ARAMARK have agreed
to open and operate a brewery and brew pub in the CoreStates Center in
Philadelphia (the "Facility"). Pursuant to the terms of the Facility Agreement,
ARAMARK has agreed, as set forth therein, to make certain payments to the
Borrower including, but not limited to, the Early Termination Fee as described
in Section 1.4 of the Agreement, and the payment described in Section 10 of the
Facility Agreement ("Annual Fee"). A true, complete and correct copy of the
Facility Agreement is attached hereto as Exhibit "A". The Borrower has requested
that the Bank extend to the Borrower a credit facility, in the amount of
$600,000, which facility will be evidenced by a commercial promissory note,
dated this date, executed by the Borrower and delivered to the Bank (the
"Note"). In order to secure the Borrower's obligations under the Note, the
Borrower has agreed to assign to the Bank, and to grant the Bank a security
interest in, all the Borrower's rights to receive payments under the Facility
Agreement, all on the terms, and subject to the conditions, set forth herein.

AGREEMENTS

     The parties hereto, intending to be legally bound, hereby agree:

         1. Assignment and Grant of Security Interest. Borrower hereby
unconditionally, absolutely and presently sells, grants, transfers, assigns,
releases and conveys to the Bank all of Borrower's right, title and interest in
and to, and hereby grants to the Bank a security interest, under the Uniform
Commercial Code of Pennsylvania, as amended, in, all the Borrower's rights to
the payment of monies under the Facility Agreement, including, but not limited
to, the Early Termination Fee, the Annual Fee, all present and future rents,
payments in lieu of rent, indemnifications, damages, expense reimbursements,
income, receipts, profits, revenues, royalties, earnings,
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accounts receivable, security deposits, causes of action, rights and benefits
arising from the use, occupancy and operation of the Facility, all present and
future proceeds of policies of insurance covering the loss of rent or property
and other sums payable under the Facility Agreement from any cause, including,
without limitation, resulting from destruction or damage to any portion of the
Facility, or any equipment therein, proceeds from the termination, surrender or
rejection of the Facility Agreement, or from the buyout of any of the Borrower's
rights thereunder, settlement payments made by or on behalf of ARAMARK, and any
and all other payments or benefits now due or which may be hereafter become due
under and by virtue of the Facility Agreement or otherwise in connection with
the use, leasing, licensing, possession or operation of the Facility
(collectively, the "Collateral"). This grant, transfer, assignment, and .
conveyance of the Collateral gives the Bank the present, unconditional and
absolute right and title to the Collateral and the right to collect, receive
and apply to the obligations of the Borrower to the Bank all payments
constituting Collateral. In furtherance of the foregoing, the Borrower hereby
pledges, grants, sells, transfers, conveys, releases and assigns to the Bank,
and also grants the Bank a security interest in all of Borrower's right, title
and interest to exercise Borrower's benefits, rights and remedies under the
Facility Agreement. To the extent that any payments are made to the Borrower
under the Facility Agreement, notwithstanding the assignment contained herein,
such payment shall be held by the Borrower in trust for the Bank and shall be
immediately delivered to the Bank in the form received, for application by the
Bank in accordance with the terms of this Agreement.

         2. Cross Default. Failure of Borrower to fully and timely comply with
the terms of this Agreement shall be an "Event of Default" under the Note.

         3. Payments to the Bank. The Borrower agrees that all payments to be
made by ARAMARK to the Borrower under the terms of the Facility Agreement shall
be made directly to the Bank at its offices at 1345 Chestnut Street,
Philadelphia, PA, Attention: James V. Nixon, until such time as the Note shall
have been paid in full, and all the Borrower's obligations hereunder shall have
been discharged.

         4. Representations. The Borrower represents and warrants to the Bank,
on which representations and warranties the Borrower acknowledges the Bank will
rely, that:

                  (a) No "default", "event of default" or event which, with the
giving of notice or passage of time, or both, will cause a "default" or "event
of default", has occurred under or with respect to any Facility Agreement.

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                  (b) No event has occurred which has or will terminate, suspend
or revoke the Facility Agreement.

                  (c) The Facility Agreement attached hereto is a true and
complete copy thereof, and includes all amendments.

                  (d) The Facility Agreement is valid and enforceable.

                  (e) Except for the lien granted to the Bank pursuant to this
Agreement, the Borrower owns each item of the Collateral free and clear of any
and all liens, security interests or claims of others. No security agreement,
financing statement or other public notice with respect to all or any part of
the Collateral is on file or of record in any public office, except such as may
have been filed in favor of the Bank, pursuant to this Agreement.

                  (f) Upon filing of the appropriate instruments or documents
for the perfection of the relevant security interests, the liens granted
pursuant to this Agreement will constitute perfected liens and security
interests on the Collateral in favor of the Bank.

                  (g) The chief executive office, the chief place of business
and the place where the Borrower keeps its records concerning accounts is 3100
Jefferson Street, Philadelphia, PA 19121.

                  (h) The Borrower has the corporate power and authority and the
legal right to execute and deliver, to perform its obligations under, and to
grant the lien on the Collateral pursuant to, this Agreement and has taken all
necessary corporate action to authorize its execution, delivery and performance
of, and grant of the lien on the Collateral pursuant to this Agreement.

                  (i) This Agreement constitutes a legal, valid and binding
obligation of the Borrower enforceable in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting the enforcement of creditors' rights
generally.

                  (j) The execution, delivery and performance of this Agreement
will not violate any provision of any requirement of law or contractual
obligation of the Borrower the violation of which could have a material adverse
effect on the Borrower and will not result in the creation or imposition of any
lien on any of the properties or revenues of the Borrower pursuant to any such
requirement of law or contractual obligation, except as contemplated hereby.

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                  (k) No consent or authorization of, filing with, or other act
by or in respect of, any arbitrator or governmental authority and no consent of
any other person (including, without limitation, any stockholder or creditor of
the Borrower), is required in connection with the execution, delivery,
performance, validity or enforceability of this Agreement, except (a) filings
under the Uniform Commercial Code, and (b) such consents, authorizations and
filings as shall have been obtained or made, as the case may be, prior to the
date hereof and remain in full force and effect.

                  (l) No material litigation, investigation or proceeding of or
before any arbitrator or governmental authority is pending or, to the knowledge
of the Borrower, threatened by or against the Borrower or against any of its
properties or revenues.

         5. Affirmative Covenants.

                  (a) The Borrower agrees not to interfere with the Bank's
rights to enforce this Agreement and to collect and use the Collateral. In
furtherance of the foregoing, the Borrower agrees that it shall not interfere in
any manner with the rights and tenancies of ARAMARK under the Facility
Agreement, and the Borrower shall not interrupt services to be performed or
provided to ARAMARK under the Facility Agreement and the Borrower shall, at all
times, timely and fully comply with its obligations under the Facility
Agreement.

                  (b) This Agreement may be specifically enforced against the
Borrower.

                  (c) The Borrower shall not engage any entity to discharge the
Borrower's responsibilities under the Facility Agreement without first obtaining
the Bank's prior written consent. All contracts entered into by the Borrower for
such services shall provide that they shall be terminable by the Bank, at any
time after an Event of Default under the Note, upon written notice by the
Borrower or the Bank, without the payment of any fee or premium and without
liability of any nature or kind.

                  (d) The Borrower shall not grant or make any further
conveyances, transfers, assignments of, pledges of and security interests in the
Collateral without the Bank's prior written consent, which consent the Bank may
withhold in its discretion.

                  (e) The Borrower shall not consent to any assignments,
modifications, amendments, terminations, alterations, extensions, releases,
compromises or cancellations

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of the Facility Agreement, without the prior written consent of the Bank, which
consent the Bank may withhold in its discretion.

                  (f) The Borrower shall observe, fulfill and perform each and
every condition, covenant and provision of the Facility Agreement to be
performed by the Borrower.

                  (g) The Borrower shall give the Bank prompt written notice of
any default notice given or received by the Borrower under the Facility
Agreement.

                  (h) The Borrower shall enforce, short of termination, at
Borrower's sole cost and expense, the performance or observance of each and
every material covenant and condition in the Facility Agreement to be performed
by ARAMARK. The Borrower shall, at the Borrower's sole cost and expense, appear
and vigorously defend any action arising out of or in any manner connected with
the Facility Agreement.

                  (i) The Borrower shall not take any action, or fail to take
any action, in connection with the Facility Agreement which would materially
impair the value of the rights or interests of the Borrower or the Bank
thereunder.

                  (j) At any time and from time to time, upon the written
request of the Bank, and at the sole expense of the Borrower, the Borrower will
promptly and duly execute and deliver such further instruments and documents and
take such further action as the Bank may reasonably request for the purpose of
obtaining or preserving the full benefits of this Agreement and of the rights
and powers herein granted, including, without limitation, the filing of any
financing or continuation statements under the Uniform Commercial Code in effect
in any jurisdiction with respect to the liens created hereby. The Borrower also
hereby authorizes the Bank to file any such financing or continuation statement
without the signature of the Borrower to the extent permitted by applicable law.
A carbon, photographic or other reproduction of this Agreement shall be
sufficient as a financing statement for filing in any jurisdiction. If any
amount payable under or in connection with any of the Collateral shall be or
become evidenced by any instrument or chattel paper, such instrument or chattel
paper shall be immediately delivered to the Bank, duly endorsed in a manner
satisfactory to the Bank, to be held as Collateral pursuant to this Agreement.

                  (k) The Borrower will comply in all material respects with all
requirements of law applicable to the Collateral or any part thereof or to the
operation of such Borrower's business; provided, however, that the Borrower may
contest any requirement of law in any reasonable manner which

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shall not, in the sole opinion of the Bank, adversely affect the Bank's rights
or the priority of their liens on the Collateral.

                  (l) The Borrower will pay promptly when due all taxes,
assessments and governmental charges or levies imposed upon the Collateral or in
respect of its income or profits therefrom, as well as all claims of any kind
(including, without limitation, claims for labor, materials and supplies)
against or with respect to the Collateral, except that no such charge need be
paid if (i) the validity thereof is being contested in good faith by appropriate
proceedings, (ii) such proceedings do not involve any material danger of the
sale, forfeiture or loss of any of the Collateral or any interest therein and
(iii) such charge is adequately reserved against on such Borrower's books in
accordance with GAAP.

                  (m) The Borrower will not (i) change the location of its chief
executive office/chief place of business from that specified in Section 4(g) or
remove its books and records from the location specified in Section 4(g), or
(ii) change its name, identity or corporate structure to such an extent that any
financing statement filed by the Bank in connection with this Agreement would
become seriously misleading, unless it shall have given the Bank at least 30
days prior written notice thereof.

         6. Indemnification of the Bank.

                  (a) The Borrower agrees to observe and perform faithfully all
of the obligations and agreements imposed upon the Borrower under the Facility
Agreement, and the Bank will not be deemed in any manner to have assumed such
obligations or agreements. The Borrower agrees to indemnify and to hold the Bank
harmless of, from and against any and all liabilities, losses, claims, demands
or damages which it may or might incur by reason of any claims or demands
against it based (a) the execution and delivery of this Agreement and the Bank's
enforcement of its rights hereunder, and (b) on its alleged assumption of
Borrower's duty and obligation to perform and discharge the terms, covenants and
agreements in the Facility Agreement. The Bank shall not be held liable or
responsible in any manner whatsoever to the Borrower or ARAMARK for the
performance of any action, matter or thing to be done or performed by Borrower
or ARAMARK, or other failure to keep and perform any of their respective
covenants under the Facility Agreement, nor shall the Bank be responsible or
liable to either of them for any matter or thing connected with the work or the
operation of the Facility or any aspect of the obligations under the Facility
Agreement. Should the Bank incur any liability, loss or damage due to or by
reason of this Agreement or the Facility Agreement or in defense against any
such claims or demands, the amount thereof, including costs and expenses
(including reasonable attorney's fees and costs) shall be added

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to the principal sum evidenced by the Note, shall bear interest at the rate
provided for in the Note and shall be secured by this Agreement.

                  (b) Notwithstanding this Agreement or any exercise by the Bank
of any of the Bank's rights hereunder, or any law, usage or custom to the
contrary, the Borrower shall retain full responsibility for the discharge of its
responsibilities under the Facility Agreement and the Borrower hereby agrees to
indemnify and defend the Bank against, and hold the Bank harmless from, (i) any
and all liability, loss or damage which the Bank may or might incur by reason of
any deficiency or alleged deficiency in the discharge of its responsibilities
under the Facility Agreement, and (ii) any and all claims and demands whatsoever
which may be asserted against the Bank by reason thereof. Should the Bank incur
any liability, loss or damage described in the preceding sentence, or in defense
against any such claims or demands, the amount thereof, including costs,
expenses and reasonable attorneys' fees, shall be promptly reimbursed by the
Borrower to the Bank and all unpaid sums shall be added to the principal sum
evidenced by the Note, shall bear interest at the rate provided for in the Note,
and shall be secured by this Agreement.

         7. Enforcement of Remedies. This Agreement may be enforced from time to
time by the Bank at its discretion, with or without order of any court and with
or without appointment of a receiver, as the Bank shall determine. Any failure
on the part of the Bank promptly to exercise any option hereby given or reserved
shall not prevent the exercise of any such option at any time thereafter. The
Bank may pursue and enforce any remedy or remedies accorded it herein
independently of, in conjunction or concurrently with, or subsequent to its
pursuit and enforcement of any remedy or remedies which it may have under the
Note.

         8. Limitation on Duties Regarding Preservation of Collateral. The
Bank's sole duty with respect to the custody, safekeeping and physical
preservation of the Collateral in its possession, under Section 9-207 of the
Code or otherwise, shall be to deal with it in the same manner as the Bank deals
with similar property for its own account. The Bank shall not be liable for
failure to demand, collect or realize upon all or any part of the Collateral or
for any delay in doing so or shall be under any obligation to sell or otherwise
dispose of any Collateral upon the request of the Borrower or otherwise.

         9. Powers Coupled with an Interest. All authorizations and agencies
herein contained with respect to the Collateral are irrevocable and powers
coupled with an interest.

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         10. Miscellaneous.

                  (a) This Agreement and the covenants and agreements contained
herein shall be binding upon and shall inure to the benefit of the Bank and the
Borrower and their respective successors and assigns.

                  (b) This Assignment shall be governed by the laws of the
Commonwealth of Pennsylvania.

                  (c) All times shall be of the essence hereunder.

                  (d) Should the Bank elect to exercise any and all of the
rights and remedies under the Facility Agreement, the Borrower shall use its
best efforts to cause ARAMARK to fully comply with all the terms and conditions
of the Facility Agreement.

                  (e) The Bank shall have the right to assign the Borrower's
right, title and interest in all of the Collateral described in this Agreement
to any subsequent holder of the Note. Any subsequent assignee shall have all the
rights and powers of the Bank as provided in this Agreement.

                  (f) The Bank shall have the authority, as the Borrower's
attorney-in-fact (such authority being coupled with an interest and
irrevocable), to sign the Borrower's name and to bind the Borrower on all papers
and documents necessary to effectuate the powers, rights and remedies granted
the Bank in this Agreement.

                  (g) Any change, amendment, modification, release or
cancellation of this Agreement, or any provision hereof, shall only be effective
if in a written instrument signed by the Bank.

                  (h) If any provision of this Agreement violates any applicable
law, it shall not render the remainder of this Agreement invalid, unenforceable
and/or void.

                  (i) Notwithstanding any agreement, law, custom or usage to the
contrary, the Borrower hereby assigns to the Bank any award made hereafter to it
in any court procedure involving ARAMARK in any bankruptcy, insolvency, or
reorganization proceedings in any state or Federal court. The Borrower hereby
irrevocably appoints the Bank its attorney-in-fact to appear in any action an/or
to collect any such award or payment.

                  (j) The Bank may take or release other security, may release
any party primarily or secondarily liable for any obligations secured hereby,
may grant extensions, renewals or indulgences with respect to such obligations,
and may apply any other security therefor held by them to the satisfaction of
such

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obligations without prejudice to any of its rights hereunder. The rights of the
Bank to collect said obligations and to enforce any other security therefor held
by them may be exercised by the Bank either prior to, simultaneously with, or
subsequent to any action by them hereunder. The failure of the Bank to avail
itself of any of the terms, covenants and conditions hereof shall not be
construed or deemed to be a waiver of any rights or remedies hereunder. The Bank
shall have the full right, power and authority to enforce this Assignment or any
of the terms, covenants or conditions hereof, at any time or times that the Bank
shall deem fit.

                  (k) Notices and other communications required to be given
under this Agreement shall be by hand-delivery, recognized overnight courier
service (i.e., Federal Express) or postpaid, registered or certified mail,
return receipt requested, addressed as follows:

                To Borrower - 1300 Jefferson Street
                              Philadelphia, PA, 19121
                              Attention:  /s/ James R. Bell

                To Bank -     CoreStates Bank, N.A.
                              1345 Chestnut Street, 3rd Floor
                              Philadelphia, PA 19107
                              Attention:  /s/ James V. Nixon

or to such other address specified in writing by one party to the other in
accordance herewith.

                  (l) Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

         EXECUTED the day and year first above written.

ATTEST:                                 RED BELL BREWERY & PUB COMPANY

      /s/                                    /s/ James R. Bell
By: _____________________________       By:______________________________

ATTEST:                                 CORESTATES BANK, N.A.

     /s/                                     /s/
By:______________________________       By:______________________________

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                                                                     Exhibit 4.5

[CORESTATES LOGO]                   GUARANTY

     This Guaranty is made and entered into by the undersigned, and by each of
them if more than one (the "Guarantor"), for the benefit of CoreStates Bank
N.A.*, a national banking association (the "Bank").

     1.   OBLIGOR. The "Obligor" means the following person or entity, and if
more than one, any or all of the following persons or entities:

                        Red Bell Brewery & Pub Company

     2.   OBLIGATIONS. The "Obligations" means all existing and hereafter
incurred or arising indebtedness, obligations and liabilities of the Obligor to
the Bank whether absolute or contingent, direct or indirect and out of whatever
transactions arising, and includes without limitation, all matured and
unmatured indebtedness, obligations and liabilities of the Obligor under or in
connection with existing and future loans and advances evidenced by promissory
notes or otherwise, letters of credit, acceptances, all other extensions of
credit, repurchase agreements, security agreements, mortgages, overdrafts,
foreign exchange contracts and all other contracts for payment or performance,
indemnities, and all indebtedness, obligations and liabilities under any
guaranty or surety agreement, or as co-maker or co-obligor with any person for
any of the foregoing, including without limitation all interest, expenses,
costs (including collection costs) and fees (including reasonable attorney's
fees and prepayment fees) incurred, arising or accruing (whether prior or
subsequent to the filing of any bankruptcy petition by or against any Obligor)
under or in connection with any of the foregoing. If the term "Obligor"
includes more than one person or entity the Obligations shall include all
Obligations of any one or more of such persons or entities, whether such
Obligations are individual, joint, several or joint and several.

     3.   UNCONDITIONAL GUARANTY. In consideration of any existing Obligations
and any Obligations which may hereafter arise or be incurred, each Guarantor
intending to be legally bound, absolutely and unconditionally (and jointly and
severally if more than one) guaranties to Bank the payment, performance and
satisfaction when due (whether by stated maturity, demand, acceleration or
otherwise) of all Obligations. The obligations of the Guarantor hereunder shall
continue in full force and effect irrespective of the validity, legality or
enforceability of any agreements, notes or documents pursuant to which any of
the Obligations arise, or the existence, value or condition of any collateral
for any of the Obligations, or of any other guaranty of the Obligations, or any
other circumstance which might otherwise constitute a legal or equitable
discharge of a surety or guarantor.

     4.   COST OF ENFORCEMENT. Each Guarantor agrees (jointly and severally if
more than one) to pay Bank all costs and expenses (including reasonable
attorneys fees) at any time incurred by Bank in the enforcement of this
Guaranty against any Guarantor.

     5.   PAYMENT BY GUARANTOR. Payment by each Guarantor is due upon demand by
Bank and is payable in immediately available funds in lawful money of the
United States of America.

     6.   CONTINUING GUARANTY. This Guaranty shall continue in full force and
effect with respect to each Guarantor and may not be revoked until all existing
Obligations and all Obligations hereafter incurred or arising have been paid,
performed and satisfied in full. Notwithstanding the foregoing, any Guarantor
may by written notice to Bank, terminate its liability hereunder with respect
to Obligations which are not Pre-Termination Obligations as hereinafter
defined. Such notice shall be ineffective unless sent via certified mail to:

      Special Notices Section-Loan Accounting Dept-CoreStates Bank, N.A. -
           1500 Market Street - FC 1-3-18-64 - Philadelphia, PA 19102

The burden of establishing (i) that Bank has received any termination notice
hereunder and (ii) the day on which such notice was received shall be on
Guarantor. In the event that Bank receives an effective termination notice from
Guarantor in accordance with the provisions of this paragraph, such termination
shall not affect Guarantor's liability (a) for Obligations incurred or arising
on or prior to the tenth day following receipt by Bank of such termination
notice, or any earlier day, on which Bank determines in good faith that the
appropriate Bank officers have actual knowledge of Bank's receipt of such
notice (the "Termination Effective Date"), (b) for Obligations which are
renewals, modifications, amendments, extensions, substitutions, replacements or
rollovers of, or which consist of accrued interest on, Obligations incurred or
arising on or prior to the Termination Effective Date, or (c) for Obligations
incurred or arising pursuant to a commitment existing on the Termination
Effective Date under which Bank was obligated to extend credit or make payments
to Obligor or for Obligor's account, all Obligations referred to in this
sentence being hereinafter collectively called "Pre-Termination Obligations".
It is understood that for purposes of this Guaranty and regardless of any
conflicting agreement between Bank and any Obligor, all payments on and other
reductions of the Obligations subsequent to the Termination Effective Date
(other than payments made by Guarantor in respect of the Guaranty itself)
shall, unless Bank elects otherwise in writing, be applied first to Obligations
other than Pre-Termination Obligations, and then to Pre-Termination
Obligations. It is further understood that the provisions of the preceding
sentence shall be applicable regardless of the amount of any new Obligations
incurred or arising subsequent to the Termination Effective Date.

     7.   WAIVERS AND CONSENTS BY GUARANTOR. Each Guarantor unconditionally
consents to, and waives as a defense to liability hereunder, each of the
following: (a) any waiver, inaction, delay or lack of diligence by Bank in
enforcing its rights against any Obligor or in any property, or the
unenforceability of any such rights, including any failure to perfect, protect
or preserve any lien or security interest which may be intended directly or
indirectly to secure any of the Obligations, and the absence of notice thereof
to any guarantor, (b) the absence of any notice of the incurrence or existence
of any Obligation, (c) any action, and the absence of notice thereof to any
Guarantor, taken by Bank or any Obligor with respect to any of the Obligations,
including any release, subordination or substitution of any collateral or
release, termination, compromise, modification or amendment of any instrument
executed by or applicable to any Obligor or of any claim, right or remedy
against any Obligor or any property, (d) any impairment of Guarantor's right to
reimbursement by way of subrogation, indemnification or contribution, (e) any
other action taken or omitted by Bank in good faith with respect to the
Obligations, (f) the absence or inadequacy of any formalities of every kind in
connection with enforcement of the Obligations, including presentment, demand,
notice and protest, and (g) the waiver of any rights of Bank under or any
action taken or omitted by Bank with respect to any other guaranty of the
Obligations.

     8.   OTHER AGREEMENTS BY GUARANTOR. Each Guarantor agrees that there shall
be no requirement that Bank document its acceptance of this Guaranty, evidence
its reliance thereon, or that Bank take any action against any person or any
property prior to taking action against any Guarantor. Each Guarantor further
agrees that Bank's rights and remedies hereunder shall not be impaired or
subject to any stay, suspension or other delay as a result of Obligor's
insolvency or as a result of any proceeding applicable to Obligor or Obligor's
property under any bankruptcy or insolvency law. Each Guarantor also agrees
that payments and other reductions on the Obligations may be applied to such of
the Obligations and in such order as Bank may elect.

     9.   SUBROGATION AND SIMILAR RIGHTS. No Guarantor will exercise any rights
with respect to Bank or any Obligor related to or acquired in connection with
or as a result of its making of this Guaranty which it may acquire by way of
subrogation, indemnification or contribution, by reason of payment made by it
hereunder or otherwise, until after the date on which all of the Obligations
shall have been satisfied in full. Until such time, any such rights against the
Obligor shall be fully subordinate in lien and payment to any claim in
connection with the Obligations which Bank now or hereafter has against the
Obligor. If any amount shall be paid to any Guarantor on account of such
subrogation, indemnification or contribution at any time when all of the
Obligations and all other expenses guaranteed pursuant hereto shall not have
been paid in full, such amount shall be held in trust for the benefit of
Bank, shall be segregated from the other funds of Guarantor and shall forthwith
be paid over to Bank to be applied in whole or in part by Bank against the
Obligations, whether matured or unmatured, in such order as the Bank shall
determine in its sole discretion. If Guarantor shall make payment to the Bank
of all or any portion of the Obligations and all of the Obligations shall be
paid in full, Guarantor's right of subrogation shall be without recourse to and
without any implied warranties by Bank and shall remain fully subject and
subordinate to Bank's right to collect any other amounts which may thereafter
become due to the Bank by the Obligor in connection with the Obligations.

--------------------------------------------------------------------------------
* CoreStates Bank, N.A. also conducts business as Philadelphia National Bank,
  as Corestates First Pennsylvania Bank and as Corestates Hamilton Bank

<PAGE>   2
jurisdiction over the Bank or any of its properties or (b) any settlement or
compromise in good faith with any such claimant (including Obligor), then and in
such event each Guarantor agrees that any such judgment, decree, order,
settlement or compromise shall be binding upon the Guarantor, notwithstanding
any termination hereof or the cancellation of any note or other instrument
evidencing any Obligation, and each Guarantor shall remain liable to the Bank
hereunder for the amount so repaid or recovered to the same extent as if such
amount had never originally been received by Bank.

     11.  SECURITY INTEREST.  Each Guarantor hereby assigns to the Bank and
grants to the Bank a security interest in any balance or assets in any deposit
or other account of such Guarantor in or with the Bank whenever and so long as
any of the Obligations shall be outstanding and unpaid and agrees that the
security interest hereby granted shall be independent of the right of setoff.

     12.  FINANCIAL INFORMATION ON GUARANTOR.  Each Guarantor hereby agrees to
provide the Bank with such information on the business affairs and financial
condition of such Guarantor as the Bank from time to time may reasonably request
and to notify the Bank of any change in the address of such Guarantor. In the
event that such Guarantor fails to comply with a request for information as
herein agreed, within ten (10) days after receipt of the request, such Guarantor
upon demand by the Bank agrees to purchase from the Bank without representation,
warranty or recourse the Obligations and to pay therefor the unpaid principal
amount of all such Obligations, including interest thereon to the date of
purchase.

     13.  EFFECT OF OTHER AGREEMENTS. The provisions of this Guaranty are
cumulative and concurrent with Bank's rights and remedies against Guarantor
under any existing or future agreement pertaining or evidencing any of the
Obligations. No such additional agreement shall be deemed a modification or
waiver hereof unless expressly so agreed by Bank in writing. If Bank holds any
other guaranty or surety agreement applicable to any of the Obligations, the
liability of each Guarantor hereunder shall be joint and several with each party
obligated on such other guaranty or surety agreement, unless otherwise agreed by
Bank in writing.

     14.  CONFESSION OF JUDGMENT; WARRANT OF ATTORNEY.  Each Guarantor
irrevocably authorizes and empowers any attorney or any clerk of court of
record, upon the occurrence of a default or an Event of Default under or in
connection with any of the Obligations, or at any time thereafter, to appear for
and confess judgment against such Guarantor for the full amount of such
Guarantor's liability under paragraph 3 hereof, with or without declaration,
with costs of suit and release of errors, without stay of execution and with an
amount not to exceed the greater of five percent (5%) of the principal amount of
such judgment or $5,000 added for collection fees. If a copy of this Guaranty,
verified by affidavit by or on behalf of Bank shall have been filed in ??????
file the original of this Guaranty. The authority granted hereby shall not be
exhausted by the initial exercise thereof and ?????? time. There shall be
excluded from the lien of any judgment obtained solely pursuant to this
paragraph all improved real estate ?????? area identified by the Federal
Emergency Management Agency as having special flood hazards if the community in
which such area is located is participating in the National Flood Insurance
Program. Any such exclusion shall not affect any lien upon property not so
excluded.

     15.  GUARANTOR'S ADDRESS.  Guarantor warrants and represents that the
address set forth below is Guarantor's correct mailing address and agrees
immediately to notify Bank in the event of any change therein.

     16.  MISCELLANEOUS. (a)  No amendment of any provision of this Guaranty
shall be made effective unless it is in writing and signed by each Guarantor and
Bank, and no waiver of any provisions of this Guaranty, and no waiver or consent
to any departure by the Guarantor therefrom, shall be effective unless it is in
writing and signed by Bank, and then such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given. (b)
Any provision of this Guaranty which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining portions
hereof or affecting the validity or enforceability of such provisions in any
other jurisdiction. (c) The obligations of each Guarantor hereunder shall not be
subject to any counterclaim, setoff, deduction or defense based upon any related
or unrelated claim which such Guarantor may now or hereafter have against Bank
or any Obligor, except payment of the Obligations, and shall not be affected by
any change in Obligor's legal status or ownership or by any change in corporate,
partnership or other organizational structure applicable to Obligor. (d) This
Guaranty shall (i) be binding on each Guarantor and its personal
representatives, estate, heirs, successors and assigns, and (ii) inure, together
with all rights and remedies of Bank hereunder, to the benefit of the Bank and
its successors, transferees and assigns. Notwithstanding the foregoing clause
(i), none of the rights or obligations of any Guarantor hereunder may be
assigned or otherwise transferred without the prior written consent of the Bank.
(e) This Guaranty shall be governed by and construed in accordance with the
internal laws, and not the law of conflicts, of the Commonwealth of
Pennsylvania.

     17.  CONSENT TO JURISDICTION AND VENUE.  IN ANY LEGAL PROCEEDING INVOLVING,
DIRECTLY OR INDIRECTLY, ANY MATTER ARISING OUT OF OR RELATED TO THIS GUARANTY
OR THE RELATIONSHIP EVIDENCED HEREBY, EACH UNDERSIGNED PARTY HEREBY IRREVOCABLY
SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED
IN ANY COUNTY IN THE COMMONWEALTH OF PENNSYLVANIA WHERE BANK MAINTAINS AN
OFFICE AND AGREES NOT TO RAISE ANY OBJECTION TO SUCH JURISDICTION OR TO THE
LAYING OR MAINTAINING OF THE VENUE OF ANY SUCH PROCEEDING IN SUCH COUNTY. EACH
UNDERSIGNED PARTY AGREES THAT SERVICE OF PROCESS IN ANY SUCH PROCEEDING MAY BE
DULY EFFECTED UPON IT BY MAILING A COPY THEREOF, BY REGISTERED MAIL, POSTAGE
PREPAID, TO EACH UNDERSIGNED PARTY.

     18.  WAIVER OF JURY TRIAL.  EACH UNDERSIGNED PARTY HEREBY WAIVES, AND BANK
BY ITS ACCEPTANCE HEREOF THEREBY WAIVES, TRIAL BY JURY IN ANY LEGAL PROCEEDING
INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF OR RELATED TO THIS GUARANTY OR
THE RELATIONSHIP EVIDENCED HEREBY, THIS PROVISION IS A MATERIAL INDUCEMENT FOR
BANK TO ENTER INTO, ACCEPT OR RELY UPON THIS GUARANTY.

IN WITNESS WHEREOF, each Guarantor has executed this Guaranty as of the 20th
day of August, 1996.

                              Red Bell Brewing Co
-------------------------------------------------------------------------------
                  NAME OF CORPORATION OR PARTNERSHIP GUARANTOR

                      PO Box 2168  Philadelphia, PA 19103
-------------------------------------------------------------------------------
                                    ADDRESS

By: /s/ James R. Bell                      By:
    -------------------------------------     ---------------------------------
    James R. Bell, President

                     INDIVIDUALS OR PROPRIETORS SIGN BELOW

------------------------  ---------------------------  -------------------------
     WITNESS                 ADDRESS OF GUARANTOR       SIGNATURE OF GUARANTOR

------------------------  ---------------------------  -------------------------
     WITNESS                 ADDRESS OF GUARANTOR       SIGNATURE OF GUARANTOR

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