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o (Drrstown JBarih 0
. " ISlrretown, !pa. 17244-0060.'
.717-532-8114
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GUARANTY
"he words "I", "we", "me" and "my" mean h i f hi
. eac s gner 0 t s guaranty.
The words "Bank", "you" and "your" mean the Orrstown Bank and anyone else
who becomes the owner of this guaranty.
A. BASIC GUARANTY
To persuade the Bank to lend money or give credit
to Diem & Yohn Swine Enterprises (the "Borrower"),
I absolutely guarantee to the Bank that the Borrower will pay when it is due
whatever the Borrower now or later owes you. This means I will repay whatever
the Borrower owes you if the Borrower does not make payment on time or otherwise
defaults immediately after you make demand on me for payment. You do not have
to sue or take any ~ction against the Borrower or against any property you hold
Qg security for ,the Borrower's debts before enforcing this guaranty aga1nst me.
If I sign another guaranty agreement for the borrower with you ,the other
agreemen~ shall not terminate this agreement, but shall be an add1tional guaranty
unless 1t spec1fically provides otherwise.
!
B.
INTEREST: COLLECTION COSTS
In addition to the basic guaranty for cred1t extended, I promise to pay
any interest the Borrower 'owes or may later owe you. I also promise to pay
all legal and other expenses of collection.
C. LIMITATION
At anyone time. my total obligation to the Bank under this guaranty will
be limited to Three Hundred Fifty Thousand 00/100 **********~ollars ($350,000 ).
I will remain liable up to this amount (but for no more) even if you lend money
or give credit to the Borrower greater than that amount.
D. NO NOTICE REQUIRED
The Bank need not get my approval or notify me if:
1.
You lengthen the'time to make payment; or
2.
,
You change the manner or terms of payment; or
3.
Yo~ sell or take any other action relating to the secur1ty you
! hold for any of the Borrower's debts; or
4.
You accept renewals; or
5.
You accept different notes or contracts for money you lend or
credit you give to the Borrower; or
6.
The Borrower is in default.
I
all of
understand that I will still be liable on this guaranty if you d0 ony or
these things.
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;'E. '~THE BANK'S ACTS OR mOroNs 0
. No a.ct or failure to act on your part will change or lessen my responsibility
on this guaranty. Examples of acts which will not change my guaranty are in
paragraph D.
F. EFFECTIVE DATE
This guaranty will become effective upon its delivery and acceptance by our
Bank. You will show that .you have accepted this guaranty by loaning money to the
Borrower. You need not notify me of your acceptance.
G. HOW TO CANCEL GUARANTY
The Bank my continue to make loans or give credit to the Borrower based on
this guaranty until you actually receive written notice from me telling you I have
cancelled my. guaranty. If I' tell you that~ I will not guarantee any loans after
that date. I will still be liable for what you have loaned the Borrower before .
I told you about my cancellation.
H. CONFESSION OF JUDGMENT
I hereby authorize and empower the' prothonotary or any Attorney of any Court
of Record of Pennsylvania or elsewhere to. appear for and enter judgment against
me for the above sum, with or without declaration, with costs of suit, release of
errors, without stay of execution, and.with 15 percent added for collection fees;
and I further agree that real, personal or mixed property may be sold upon'any
writ of e~ecution as now or hereafter provided by law or the Rules of .Civil
procedure! ~overning the enforcement of judgments; and I waive and release all
relief from any appraisement, stay or exemption laws of any state now in force
or hereafter to be passed.
WIlO rSRE~PONSIBLE
. Althbugh thi's 'guaranty'may be "signed by more than "one. person or company, I
understand that we are each'separatelyresponsible for the full amount of this
guaranty. Each signer intends this guaranty to bind my executor or administrator-
that is, the person or company that takes' care of my affairs if I die. Each
signer that is a company intends this guaranty to bind the company's successors
and assigns-that is, ag;yone legally..;-receil,:;'ing or buying the company or most of
its property. ~.
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June 10,.
, 19 93
iGuaf;mtor(s)
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Bank hereby a!ccepts this guarantee
the Borrower.:
will advance credit to
G 1e.nr1 ~ YohV')
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