In consideration of credit being extended by Seller to Applicant, I/we hereby personally guarantee to Seller payment of any obligation of Applicant and agree to be bound to pay Seller on demand any sum that is or may in the future become due and payable to Seller from Applicant, including but not limited to any unpaid principal, interest, attorneys’ fees and costs of enforcement against the Applicant and/or the undersigned guarantor(s). It is understood and agreed that this Guaranty shall be a primary, absolute, continuing and irrevocable guaranty of payment and indemnity for such indebtedness and will not be subject to any counterclaims, set-offs, other deductions or defenses. I/We hereby waive notice of default, non-payment, non-performance, dishonor, protest, presentment, diligence, promptness, creation, renewal, accrual, extension, proof or reliance, and agree to be bound by all applicable terms and conditions set forth in this Application, including the Terms and Conditions of Sale. This Guaranty will not be released, discharged, terminated, modified, affected or impaired by any occurrences or circumstances whatsoever, including without limitation any insolvency, bankruptcy, reorganization or other similar proceeding affecting Applicant or its assets or any negotiations or course of dealing between Seller and the Applicant. If any of the undersigned is not an “applicant for credit” under 12 C.F.R. Section 202.2(e) of the regulations adopted under the Equal Credit Opportunity Act of 1974 (“ECOA”), such person acknowledges that (a) this Guaranty has been executed to provide credit support for Applicant under this Application, and (b) such party was not required to execute this Guaranty in violation of 12 C.F.R. Section 202.7(d) of ECOA. This Guaranty shall be binding upon the heirs, administrators, successors and assigns of the undersigned. |