GUARANTY
This is a guaranty, made by the Undersigned (who, whether one or more, are herein sometimes called the “Guarantors”) in favor of Sage Parts Plus, Inc. (herein called “Creditor”)
In order to induce Creditor to extend from time to time credit to __________________________________
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(Herein called “Dealer”) and in consideration of such extension of credit, the undersigned intending to be legally bound hereby agrees as follows:
1. The Guarantors jointly and severally hereby unconditionally and absolutely guarantee the due and punctual payment of all indebtedness, obligations and liabilities of Dealer to credit now hereafter incurred (herein called “Obligations”). Such guaranty is an absolute, present and continuing guaranty of payment and not of collectibility and is in no way conditioned or contingent upon an attempt to collect from Dealer or upon any other such action, occurrence or circumstances whatsoever. In case Dealer shall fail to pay any of the Obligations at the annual rate of 12%.
2. The liability of the Guarantors hereunder shall not be affected or impaired by (and Creditor is hereby expressly authorized to make at any time or from time to time, without notice to or further consent of the Guarantors) any compromise, settlement, release, renewal, extension, indulgence, waiver, alteration, substitution, exchange, change in, modification or other disposition, either expressed or implied or all or any part of the Obligations.
3. Presentment, demand for payment, protest, notice or dishonor and of non-payment of the Obligations are hereby expressly waived by the Guarantors.
4. No act of commission or omission of any kind or at any time upon Creditor’s part in respect to any matter whatsoever shall in any way affect or impair the liability of Guarantors hereunder. No waiver by Creditor or any of the provisions of this guaranty shall be valid unless in writing signed by an offer of the Creditor.
5. Guarantors will pay all expenses (including, without limitation, reasonable attorney’s fees and court cost) paid or incurred by Creditor in enforcing this Guaranty.