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HomeMy WebLinkAbout96-02493 .' ) l (. '/'.. ) '/ 'i -\ (, i I (; r (I.", COMMERCIAL GUARANTY PrincipII Rel.rences In Ihe shaded 8'ea a'e '0' lends!"s u~e ani l\nd do notlunll the IJ , llcabllll 01 th!5 documenllo an Accounl 5003538 Inltllll lOin Olle Mllurlly lOin No IIrllculllt IOlln or 110m Borrower: M.rl.nn. R. Fldl.r, Inc. 018114 Aee.n' T.mp' 2&-17153601 3344 Trlndl. Rold C.mp HIli, PA 17011 GUlrlnlor: . M.rl,nn. R. Fldlll 517 Thomll Rold C.mp Hili, PA_~~,,~ -..n.. (TIN: lender: PENNSYLVANIA STATE BANK 2141 MARKET STREET p, O. BOX 417 CAMP HILL, PA 17ool-ll4l7 _ _______~___.. '-'-"_'_n_'___"_ ..__._._~~__.,..__ _____.. ____.'0__ __~_ _~. AMOUNT OF GUARANTY. Thl .moun' 01 Ihl' GUlrlnly I. 2.000'110 0,,11 ,mounl. due ',om BorrowlI '0 Lpndtr.. provided below, howevllln no .v.n'lo ..elld Ten Thou..nd & 001100 0011".,"0,000.001. GUARANTY. Fo, good end vllu,bl. eonoldlll"on, M.rl,nne R. Fldlll ("Guaronlor") eboolulely .nd uneondlllon,lIv gu.,.n',," end proml... 10 pey 10 PENNSYLVANIA STATE BANK ("LInder") 0' II. O,dll, In l.g,'lenaor ., 'hI Unll.d Slele. 0' America, 2.000'110 01 Ihalndebledn... (a. Ih,lllIm "denn.d belawl 01 Mlrl,nn. R, Fldlll, Inc. DI8IA Aeeenl Temp, I"Borrower") 10 Lendll an Ihl Ilrm. ,nd eondlllon. .., 10,lh In this Gu.,.nty. Gu.rlnlor Igr...lha' Lender, In III sole dlacrellon, may determine which porUon a. 8oHowe,'slndebtedn8ss 10 Lender Is covered by Guarantor', perc.ntage gUlronly. DEFINITIONS. The follOWing words shall hQvO Ihe 'OIlOWlIlg meanings when usod 1lIlhlS Guaranly' Borrow,r. The word "Borrower" mean~ Maflanne n. Fidler, Inc. DIfl/A Accont romps Guarantor. The word "Guarantor" means Marlllnno R Fidler, Guaranty. The word "Guaranty" melins thiS Guaranty made by Guarantol for Ihe benelil 0' Lender dated December 16, 1994 Indebt.dness. The word "Indebtedness" moans Ihe Note, including (a) all pnnClpal, lb) aUlntarost, (C) aU late charge!], (d) all loan 'eos Bnd loan charges. and (e) aU collection c051s and alCpensos relallng 10 Ihe Nolo or to any collateml tor tMe Note. Collection cosls and elCpenses inClude without limitation eU 01 Lender's allorneys' fees and Lender's logal elCponses, whelher or not SUit IS Instlluted, and altorneys' fees and tegal elCpenses 'or blJnkruplcy proceedings (inCluding o"orls to modlly or vacate allY aulomatlc stay or InJuncllOn), appeals, and any anticipated post-Judgment colloctlon sorvlces Lend.r. The word "lender" means PENNSYLVANtA STAlE BANK, Its successors and aSSigns, Nol., The word "Note" means the promissory noto or credit agreemenl dated December 16, 1994, In the original principal amount 0' $10,000.00 from Borrower 10 Lender. togelher With all renewals 0', elCtenSlons 01, rnodlflcatlons of, refinanCings at, l.:onsolldallons of. dno substltuhons for the promissory note or agreemF,lnt. Relaled Documenls. The words "Related Documents" mean and Include Without limitation 11/1 promissory nGtes, crodlt agreements, loan agreements, enVIron menIal agreemenls, guaranties. security agreements, mortgages, deeds at trust, and all other Instruments. agreements and docunlenls, whelher now or herealter eXIslmg, elCecuted In connection With the Indebtedness. MAXIMUM LIABILITY. The mlllmum lIablllly 01 Guarlnlo, undll Ihl. Guaranly .hall nol e.eeed al any onl lime 2.000'110 01 all Indebtednes.: however, In no even I 10 e.ee.d 110,000.00 plu, III eo.'. and e.pen... 01 II) en'oreemenl 01 Ihl. GU.'lnly Ind (b) eolleellon and ..II 0' InV eall,ler,'..eurlng thl' Gu""nly. The above Ilmltatron on liability IS not e. restrlcllon on the amount 01 the Indebtedness 01 Borrower to LeJ1der 81ther In tho aggregate or at anyone tuno If lender presenlly holds one or more guaranties. or hareoller receIves additional guaranties from Guarantor. the rlghls 0' Lender under all guaranties shall be cumulahve. ThiS Guaranty shall not (unleSS speCifically provide a below to the contrary) altect or Invalldale any sucl'! other guaranties, The liability 01 Guarantor Will be the aggregate liabIlity at Guarantor under the terms 0' thiS Guaranty and any such other untermlnated guaranlles NATURE OF GUARANTY, Guarantor Intends 10 guarantee at JlIllmas Ire parformance and prompt payment when due, whether al maturity or earlier by reason of acceleration or otherWise, rJf all Indebtedness within tho limits set forlh In the preceding sectIon of thiS Guaranty. DURATION OF GUARANTY. ThiS Guaranty will take effect when received by Lender wlthoulthe necessity of any acceptance by I.ender. or any nollce to Guarantor or to Borrower, and Will continue In 'ull 'orce unlll aU Indebtedness shall have been 'ully and 'many paid and satisfied and an other obhgatlons 01 Guarantor under thiS Guaranty shall have been per!ormed In full. Release of any other guaranlor or termlnalton Of any om~r guaranty at the Indebtedness shall not affect lhe liability at Guarantor under tnls Guaranty. A revocation received by Lender from anyone or more GU31antors shall not alfect Ihe liability of any remaining Guarantors under thiS Guaranty. GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor author"., LondOr. wllhoul nollel or demand and wllhoul I....nlng Guaran'o,'. lIabUlIy und.r Ihls Guarlnty, from time 10 lime: (a) to make on. or more additional secured or unsecured loans to Borrower, 10 I.ase equlpm.nt or olher goods 10 Borrower, or otherwise to exlend additional credit to Borrower; (b) 10 all.,r, compromise, renew, exlend, I<:e.lera'., or olherwlse change on. or more times the tlm. 'or payment or other lerms 0' the Indebtedness or any part of Ihe Indebledness, Including Incr.ases and d.creases 0' th. ra'e Of Interest on the Indebtedness; exlenslons may be repealed and may be 'or longer Ihln th. orlgln.lloen term; Ie) 10 take and hold security 'or the p.vm.nl 0' this Guarantv or Ihe Indebtedness, and exchange, 8n'orce, waive, ,.11 or d.elde nol 10 pe,'eel, 'nd rei.... ,ny .ueh ..eurlly, Wllh 0' wllhoul Ih. .ub.lllullon 0' new eoll,lerel; (d) 10 ..I...., .ub.lllule, Ig,," nal 10 IUI, or deal wllh anv on. or more 0' Borrower's sure tie., endorsers, or olher guarantors on anv lerms or In any manner lender mav choose; ('110 d.lllmlnl haw, wh.n .nd whll ,pplle.llon 0' p'ymenl' and "edll. on.1I bl mlde an Ihe Indebtedn..,; If) 10 .pply such ..eu,lly ,nd dlree' Ih. o,dll or m.nnll 01 ..II 'hereol, Including wllhoul IImllallon. .ny nonludlelal ..I' permlll.d by 'hI terms 01 Ihl coni roiling ..eurlly .gre.mlnl 0' dlld 01 ,'U'" .. L.ndll In II' dlscrellon m.y de'ermlne; (g) 10 ..II, I,.n.'er, IS.lgn. 0' grlnl pa,lIelpatlons 'n III or Iny plrl 0' Ihl Ind.blldn...; .nd (h) 10 ....gn 0' lren,'" Ihls Guar,nly In whOI. or In p.rl. GUARANTOR'S REPRESENTATIO~.S AND WARRANTIES. Guarantor represents a,'o warrants 10 Lender that (0) no representations or agreements or any kInd have been made to GUI)rantor which would limit or quall'y In ilny way thl3 torms of thiS Guarant'l, (bl tnls Guaranty 15 elCecuted ,t! Borrower'! request and not al the request of Lender; (c) Guarantor nas not ilnO will not, Without the pnor written consent 0' l.enoer, sell, lease. aSSign. encumber, hypotnecate. Iransfer, or olt1erWlse dispose 0' all or substantially all 0' Guarantor's assets, or any Interest therein, (d) Lender has made no represenlatlon to Guarantor as to lhe ~redllwortnlness 0' Borrower; (el upon Lender's reques!, Guarantor Will prOVide to Lendor rlnanClI111)nd credIt Inlormallon In form acceptable to Lender. and all such 'InanCIQlln'ormatlOrl prOvIded to Lender is true and correct In all malerlal respects and !,wly presents tne 'manCllil condition or Guarantor as 0' tne dates thereat. and no malerla! adverse chrJnge hB!l oCCUlrliJd In the '11'anCIl1I condItion CJf Guarantor 'ilnc,", Iha date of the 'manclal statements: and It) Guarantor ha~, f}~,tabllsn[>d adeQuBta mean') of obtaining 'rom BOrrower on n continUing 12-16-1994 lOin No 5002514-04 COMMERCIAL GUARANTY (Conllnued) Page 2 -~._--_.._----------_.---------~----.._._..._.~-_._----.. .. -----..-----.-.....-..--,------- ---- ---'. -....--.----.. ..... .-.. .-. ........ -- basIs Information regarding 80aow8,'5 'Inanclal condition. Guaruntor (lgloes 10 keep adequately Infurmed trom such ''''eans 01 any facl5, lwenls, 01 circumstances whIch might In any way aHeet GUBronlor's risks under Ihls Guaranly, and Guarantor 'Ullher IIgreos IhIll Lender Shall hll've no oblloatlon 10 dlscJO$810 Guaranlor Bny Information or eJocumenls aCQuired by lender In Ihe coursu Ollis I8lalionshlp WIth SOHQWel, GUARANTOR'S WAIVERS, Ellcepl1l5 prohibited by lIppllcable fllW, Guarantor w!Jlves II"Y rig hI 10 reqUire lender (II) 10 continue lendlnU mom)'y or to elltend other credit 10 Borrower; lb) to ma"e a~y presentment, protest. demand. or notice 01 any kind, 1,1cludlng nollc6 Of any norlpuyrnelll at the Indebledness or ot any nonpayment retated 10 any collateral, Of notice at any action or nonllcllon on the part 01 Bortowm, Londor, /lny surety, ondorser, or other guarantor In connecllon With the Indebtedness or In connection Wllh the Cfeatlon 01 new Of add III anal loans or obllgallons: Ie) to r050lt lor payment or to proceed directly or at once against IIny porson, including BOffower or any other guarantor; (d) to proceed dllectly against or OXhlJust any collaleral held by Lender rrom Borrower, any other guarantor, or any other person; (0) 10 give nollce of tho lerms, tIlT,J, and pluce 01 Any pUblic or private s81e 01 personal property security hOld by Lender 'rom Borrower or to comply With any othel applicable prOVIsions at the Umlorm CommerclI)1 Code; (f) to pursue any olher remedy Within Lender's power; or (g) to commit any act or omiSSion 01 any "Ind, or al any time, With resJ,;ecl to any matter whatsoever, I' now or hereafter (a/ Borrower shall be or become InSOlvent, and (b) the Indebtedness ~hall not at all times unlll paid be 'ully securod by collatO/ol pledged by Borrower, Guarantor herQby lorever waives and relinqUishes In favor of Lender and BOHower, ond their respective successors, nny clOlm or tight to paymenl Guaranlor may now have or hereafter have or acqUire agalnsl Borrower, by subrogalton or otherWise, so Ihnl af no limo shall Guarantor be l,)r become a "crodltor" at Borrower Within Ihe meaning 0111 U,S,C see lion 54l(bl, or any succossor p,ovlSlon at the Federal bBn"ruplCy laws, Guarantor also waives any and all rlghls or defenses 9r1slng by leason of la) (Jny "one ocllon" or "anll-deflclency" law or any olher law which may prevonl Lender from bflnglng any action. Including a claim for dellclency, aglJlnst Guaranlor, before or oller lender's cornmoncome"I or r.omplellon 01 IIny 'oreclosure action, either JudiCially or by exerCise of a power 01 sale: Ib) any election of remedies by lender WhIch deslloys or otherWise adversely sHects Guarantor's subrogation fig his or Guarantor's rights to proceed aglllnst Borrower for reimbursement, Inclu(1lng wllhout limitation, any 105S 01 flghls Guaranlor may suNer by reason 0' any law limiting. qualifYing, or discharging Ihe Indebtedness; IC) any dl5IJblllty or other delense of Bonowef, of any other guarantor, or of any 01 her person, or by reason of tMe cessallon of Borrower's lIablllly tram any cause whatsoever, olher than payment In 'ull In legal tender, 01 Ihe Indebtedness; (d) any fight 10 claim discharge 01 the Indebtedness on Ihe baSIS 01 unjustl'led Impairment 0' any collBteflll 'or the Indebtedness; (e) any stalute of Ilmltahons. If at any time any action or SUit brought by Lender against Guarantor IS commenced Ihere 1$ outstandmg Indebtedness of Borrower 10 Lender which 15 not barred by any applicable statute 0' limitations; or (I) any defensos given 10 guarantors at law Or In equity other than actual payment and performance clthe Indebledness, II payment IS made by Borrower, wr,ether voluntatlly or otherWise, or by any third party, on the Indebtedness and thereafter Lender 15 forced to remlllhe amount of Ihat payment 10 Borrower's trustee In bankruptcy or 10 any SImilar person under dny federal or stale bankruptcy law or law lor Ihe relief at debtors, the Indebledness shall be conSidered unpaid lor the purpose 0' enlorcement 01 thiS Guaranty, Guarantor lurther waives and agrees not to assert or claim at any lime any deductions 10 ihe amount guaranleed under thiS Guaranty for any claim at setoff, counterclaim, counter demand, recoupment or SlmlllJr right, whelher such claim, demand or right molY be asserted by the Borrower, the Guarantor, or both, GUARANTOR'S UNDERSTANDING WITH RESPECT TO WAIVERS. GuaranlOl warranls and agrees Ihat each of the waivers sel forth above 15 made With Guarantor's full knowledge of lis Significance and consequences and thut, under the CIrcumstances, the Wlllvers are reasonable and not contrary to public poliCy or law. II any such waiver IS determined 10 be conlraf'llo any applicable law or public policy, such waiver shall be effectrve only 10 the extont permllled by law or publiC poliCY. LENDER IS RIGHT OF SETOFF. In addlhon 10 all liens upon and rlghls of setolt agarnstthe moneys, securities 01 other properly 01 Guarantor given to Lender by law, Lender shail have. With respect 10 Guarantor's obligations 10 Lender under thiS Guaranly and 10 the extent permitted by law, a contractual possessory security rnlerest III and a right 01 setotl agarnst, and Guarantor hereby assigns, conveys, delivers, pledges, and IfIlns'ers to Lender aU at GUIJtantor's right, Iltle and Interest rn and to, all deposlls, moneys, secutllles and other property of Guarantor now or herealler In Ihe possession of or on depOSit with Lender, whether held in a genmal or speCIal account or depOSit, whether held JOintly with someone else. or whether held lor safekeeping l,)r othl!rwlse, excluding however all IRA, Keogh, and Irust accounts. Every such security Interest and right 01 seloff may be exercised without demand upon or notice to Guarantor. No securlly Inlerest or right ot setotl shall be deemed to have been waived by any acl or conduct on the part of Lender or by any neglect to exerCise such right 01 setolf or 10 enforce such secunty Interesl or by any d.alay In so dOll1g, Every right of seloH and security interest shall continue III full ,'orce and etlect until such fight 01 seloff or s"cunty rnterestl5 speCifiCally waived or released by an Instrument in wrltrng executed by Lender. SUBORDINATION OF BORROWER'S OEBTS TO GUARANTOR. Gu".nlor .gr.., Ih.I Ih. Indebledne" of Borrower 10 Lender. whelher now eXisting or hereafter created, shall be prior to any claim that Guaranlor may now have Of herealler acqUire against Borrower, whether or not Borrower becomas Insolvent. Guaranlor hereby expressly subordinates lll"" claim Guarantor mllY have agalr1st Borrower, upon any account Whatsoever, to any claim that Lender may now or harealler have agal11st Borrower In lhe o'Ienl 01 Iflsolvency and consequent IIquldallon 0' Ihe assels of Borrower. through bankruptcy, by an assignment lor the benefit of credllOfS, by volunlary liqUidatIon, or 0lherwlS8, the assels 01 Borrower applicable to Ihe payment of Ihe claims 01 both Lender and Guaranlor shall be paid to Lan(1er and sl1all be Ilrst applied b~' Lender to the Indebladf"l8SS at Borrower 10 Lender Guaranlor does hereby assign to Lender aU claims which It may have or acquire against Borrower or against any assignee or trustee In bankruptcy of Borrower; prOVided however, that such assignment shall be offer.:tlve only for lhe purpose 01 assuring 10 lender lull paymenl In legal tender 01 the Indebtedness, If Lender ~o requests, any notes or credit agreements now or herealler eVidenCing any debt, or obhgallons of Borrower to Guarantor shall be marked With a legend that the same Bre subject 10 thiS Guaranty and shGil be delivered to lender. Guarantor agrees, and Lender horeby IS authOrized, In the name at Guarantor. Irom time to time to execule and file finanCing statements and contll,uallon slatements and 10 execule such other documents and to take such other 3ctlons as Lender deems necessary or approprlOte to perfsGt, preserve and enlorce 115 tlghls under thiS Guaranty, MISCELLANEOUS PROVISIONS. The follOWing miscellaneous prOVISions are a part althls GUlllanly' Amendmenls, ThiS Guaranly. together With any Related Documents, conslltules Ihe entire understanding and agreement of the parties as 10 thl! mailers setlorlh In Ihls Guaranty. No aller~llon 01 or amendment 10 lhls Guaranty shall be etfeclive unless given In wilting and Signed by tl1e party or parties sought to be charged or bOlJnd by the alterallon or amendment Appllc.ble Law. ThiS Guaranty has been dellversa to Lender and acceptad by l ~)nder In the Commonwsllllh of Pennsylvanlil II lhere 15 a laWSUit, Guarantor agrees urJon Lender's req\,;est 10 submit '0 the jIJr:Sdlctlon 01 the courts of Cumberland County. Commonwealth at Pennsylvllrlla ThiS Guaranty shall be governed by and conslrued In accordance Wllh the laws 0' the Commonwealth of Pennsylvanlll Attorn.ys' FeeSi Expenses. Guarantor agrees to pay upon demand all 01 Lender's cosls dnd expenses, Including allornoys' lees and Lender's legal expenses, Incurred In cor,nectlon With Ihe er,'orcement 0' lhl5 Guaranly Lender may pay someone else to help enforce thiS Guaranty, and Guarantor shall pay Ihe cosls and expenses of such enforcemenl Costs and expenses Include Lender's Bllorneys' lees Ilnd legl1l expenses whether or not there IS a laWSUit, InCl. ';ng Attorneys' fees Bnd legBI expenses tor bankruplr" proceedings (and Inciudlng ellorfs to mOdify or vacate any automallc stay or InJuncI" ppeals, and any Antlclpafed post-Judgment collect erVlces, Guarantor a15\1 shall pay all court cosls '~ 'aTld such additional lees as may be dlrt/cled by Ihe courl " - . 12-1~1994 loan No 5002514-04 COMMERCIAL GUARANTY (Continued) Pege 3 .;::,'.;===.--. '''-,... ._-;-_..__.._-._---,-.-..:,.~- _.--.-- -=-:-==~;:~=,;.:.::..:.:.:-.:..::.::;".=;:;;~.,.:.:.;..::;=.:..:::..::;;:-.;.;~=::....--;-.;~-;=.:, Notlc.s, All notices reqUIred 10 be given by Bither party to the olhOl under Ihl!) GUllfDrlty shall be II' wrlllng IIr1d shall be ellecllve when actulIlly delivered or when deposited with a nBhonally recognized overnight COUfler, or when deposIted 111 the United Stales mall, Ilrst class postage prepaid, addressed 10 the party 10 whom the notice IS to be given lit the iJddre55 shown above or 10 such other addresses 115 Bither PlJrly may deslgnst.. to the other In writing. IIthers 15 more than one GuafBnlf,lr, nollee to any Guarantor will conslltute nollee 10 aU Guarantors, For nollce purposes, Guarantor agrPQs to keep lender Inlormed at all limos 01 GUlIH1!1tor's cUrrontaddr8SS Inlerprel.llon. In all caSe5 where there 16 male than one Borrowel or Guaranlor, then all words used In Ihl(j Guaranly In Ihe Singular shal! bo deemed to have been used In the plural where the conte lit Bnd constructIon 50 require; Bfld where thete 15 more than ono Borrower named In this Guaranty or when thiS Guaranty 15 Ollecuted by more Ihan one Gualantor, the words "Borrower" Bnd "Guarantor" respfJctlvely shall mean all and lIny one or more ollhem, The words "Guarantor," "Borrower," and "Lendel" Include Ihe hl!us, successor5, assigns, and Irunsletees 01 oach of them. Caption headings In Ihls Guaranty Bre for convenience pwposes only und uro not 10 be used to Interprot or define the prOVISions of thiS Guaranty. If a court 01 competent Jurisdiction finds Bny prOVISion 01 this Guall.lflly to be Illvalld or unenfOlceable as to any person or cllcumslance, such finding shall nol render Ihllt prOVIsion Invalid or unenlorceablo as to any other person!) or Clrcumslances, and all prOVISions 01 thiS Guaranty In all other respects shall remain valid and enforceable, If lIny onD or moro at Bortower or Guaronlor Are corporallons or partnerships, It 15 not necessary for lender to inqUire Into the powers 01 Borrower or Guaranlor or 01 the olllcers, directors, partnets, or agonts acting or purporting to ael on their behalf, l;Il~d any Indebtedness made or creatfld In Ishonco upon the ploles5ed exerCise 01 such powers shall be gUll/unloed undo! thiS Guaranty. Wllve,. lender shall not be deemed 10 havo wBlved any rights under Ihls Guaranly unles!. such waiver 15 given 10 wrlhng Bnd Signed by Lendef, No delay or omiSSion on the pari of lender In ellercl5lng any fight shall operate as a WBlver of such right or any other right. A Wlilver by lender 01 Ii provision of Ihls Guaranty shall not proludl~e or constllute a waiver of Lender's right otherWise 10 demand strict compliance Wllh that prOVIsIon or any other provIsion 01 this Guaranty. No prior waiver by lender, nor l1n~ cour~e 01 doallng between lender and Guaronlor, shall constllute a waIver of any of lender's rlghls or of any 01 Guarantor',! obhgahons as to any luture tramiacllOns. Whenever the consent 01 lender 15 required under thiS Guaranly, the granting 01 such consent by lender In any Instance shall not constitute continUing consent 10 subsequent Instances where such consent 15 reqUired and In all cases such consent may be granted Of Withheld In the sole discretIon 01 lender . CONFESSION OF JUDGMENT. GUARANTOR HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF PENNSYLVANIA. OR ELSEWHERE, TO APPEAR AT ANY TIME FOR GUARANTOR AFTER A DEFAULT UNDER THIS GUARANTY, AND WITH OR WITHOUT COMPLAINT FILED, AS OF ANY TERM, CONFESS OR ENTER JUDGMENT AGAINST GUARANTOR FOR THE ENTIRE PRINCIPAL BALANCE OF THIS GUARANTY AND ALL ACCRUED INTEF!EST, TOGETHER WITH COSTS OF SUIT, AND AN ATTORNEY'S COMMISSION OF TEN PERCENr 110""'1 OF HIE llNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, BUT IN ANY EVENT NOT LESS THAN FIVE HUND>lED DOLLARS ($600) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDIATELY, AND FOR SO DOING, THIS GUARANTY OR A COpy OF THIS GUARANTY VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. THE AUTHORITY GRANTED IN THIS GUARANTY TO CONFESS JUDGMENT AGAINST GUARANTOR SHALL NOT BE EXHAUSTED BV ANY EXERCISE OF THAT AUTHORITY, BUT SHALL CONflNUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER THIS GUARANTY. GUARANTOR HEREBY WAIVES ANY RIGHT GUARANTOR MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WlrH ANY SUCH CONFESSION OF JUDGMENT AND STATES THAT GUARANTOR HAS BEEN REPRESENTED BY LEGAL COUNSEL. . EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS GUARANTY AND AGREES TO ITS TERMS, IN ADDITION, EACH GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION AND DELIVERY OF THIS GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLED "DURATION OF GUARANTY:' NO FORMAL ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE, THIS GUARANTY IS DATED DECEMBER 16, 1994. ~~TOR: .1 ~ , X f!J(l't.(/?-'.....~J:..a!.t d "Lt' k . (SEAL) Mlrllnnl R. Fidler INDIVIDUAL ACKNOWLEDGMENT STATE OF ..J . \e' '" f\:o.<-t Iv 0,0 . Qo- ) ISll ) COUNTY OF C:..I"(\~'( ~I:L" d On Ihls day before me, the undt:!rsloned NotJry Publ1c, personally appeared Marianne R. Fidler, to me known to be HIe 1!1dlV!dlJol descnbed In and who glleculed Ihe CommerCIl!! Guaranty, al1d acknowledged thl)t he or she Signed 'he Guaranty as hiS or her Iree and volunlary act and deed, lor the uses SInd purposes therein mentioned. '" .I _GIven uO.dl' my hand 'nd o"lelal ..Ilthl. 1(,.," day 0' l)or e... iYl \....... ,19 <1 If ? ..,._ __.._._....-M..... By_:t9~ 'l-C~?--'~~ Reoldlngll p~~~/:u~tor~~:~PubtlC Noll'y Public In Ind 10' _Slid ~, \.,. ~ ~~'j I va n { ~ My eom~I~..,~~~..PI:..}:~I~~~i;~n (~~~~~~t ~_ ~~. i A',I !~ I'HO 1411'.1 I) 'i ,,~, .\ r M I.)H VI!< I' 'l(e) 1'lU4 c;I.I!" ,:';,,, ~".~~ I,,,. 11.1" 'Il"f';, e",:r ~~d 'PfI I- ~I) 'v11- 'I i, I I( , IIj ( ;1' ,~ " -" ., ~rJ ~ ,) J~ '"' J , <:-- ,,:, ) \ 1\ .... J v; (~ , , ,., I "" } \., ,:. , '" j ')0- J J \., A 1 -.. '"'l , l.... .. r:-.; 11 ~ . -- , "I~ , ' II': . \ .' i (,,' - , "? .. i-) ... I~;'" ,- ." ) '-- '.,J ........1"