General Guarantee

FOR GOOD AND VALUABLE CONSIDERATION, and as an inducement for ____________________________________ HOLDER to extend credit to _____________________________ (the "borrower") the undersigned

unconditionally guarantees to the holder the prompt and full payment of the following debt owed to the holder from the borrower:

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The undersigned agrees to remain bound on this guarantee notwithstanding any extension, forbearance or waiver, or release, discharge or substitution of any collateral or security for the debt. In the event of default in payment of the debt the holder may seek payment directly from the undersigned without need to proceed first against the borrower.

This guarantee shall be binding upon and enure to the benefit of the parties, their heirs, administrators, successors, assigns and personal representatives.

 

Dated this______day of___________________, 201(x).

 

IN WITNESS WHEREOF I have hereunto set my hand and seal on the day and year first above written.

 

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