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Home My WebLink About98-03038 " , . , ,.' . -' '..- .,', .' i I No. CJ~' 30df ClvllTerm . . ... '~. , '., _~)J~~ rSt4:b .'~ .. .. '. , , '''''' . ... ," .' ':, i.";tl-, , . '. -t,-ij",.lt' . ,...... Ii " '" . . i 'i,}. If. l~' ., ". .-::0. ' .~, :""\ ~r- .~...t.\"tf :-'~ , 'j ~'tt"\' ,.l~ . I ri" ,"f .' "IF ,q;.r., '. 'I' ., '~'" ',' "'.- 't'l,.i. I I I I . . ..~. P'\I,' vs. '~h.l.,~'.~J);~, . ',..:d.~, ' Court of Common Pleas ' Cumbo Co. ~ ,'~ .. , ,. '( ~ ' ...' " " j '- '. J', i I' ..' ., , ':" '..\\. ,1.\ ,_ ,..- I', I , ~ ".,' ":: f,; ~.,'" f ,,, ,. . "'j,,,,~ '<j' ,.........~...... ."~ .'. .. .......:~~_.. f ''',j ,,~,' ! ,~'"'...,~. ,;: , 'i~>' ~ "'/ ':'~;. :.~{ , , ~.. 7.~' r. \ 'j~" : " I :';" <. ~i'''''' I., , i....,p,. , ..~., '\ , .~i~' k':.'- ; ; ~ ( - ,- I. ,~. ~. ~ .. ','-. f ~" '~~.. >-;, ~,;-' : I ,'.., .', . ",' ,-~ .....; '" ~ " ,'! , ,;{t,IfI.."f", ~ ," "II'(~;~; ~ J ,}, ". 4\, , h,..~~,.. "," ':;} " "~.") '''9.'';",;,~. ' 14, .~:.~ ,....- '" y ':~; \ i ~. ", 4. ':1 """. ','j " "iC; .'.>t., ' ~. J '~~"\<+-: "~. , , '~1 '; .:J ~{, " ,.' . l "-.:. ~~ (' ,-i:,~;:":" It. \1\' "~ \,"!:':i::',~: \ :,ie~ - --.~,,\,-... . . ,.."/ ,~:~:., '''''''',':1(':';'''- ".. --........ ,. -" -"'../ ).,;.."........1~ /. """-/ \,,'::-;, ". ~.q',1' ,'.':}. .._---", "...'--'.----.-. ;.~...;,.~,~ ~,.;,~~~',.$,'"'~-!,-',:,"'.~,.:,,,' ,.--_....,.,--_.,.""......,...,..,.-i--".._'.,_.:.~ , , , " , '.i' e, .~ ... ,....... ,-:-, 'COMMERCIAL GUARANTY /'10, q8- 303'8 . Prl~clpal. , LoaR. Date ,Maturity Loan No Rafe,ancas In Iha shedad araa ore lor Lander's usa onl and do nolllmll tho a .. Account ..... ' . '5003595 '.' IIcabll,l 01 Ihls document to an articular loon or lIem. Inlllals Borrower: Greenberg end Company, P,C, (TIN: 21>-1740570) 3314 Merkel Slreet, Sulle 304 Camp Hili, PA 17011 "Guerantor: Mark Z, Greenberg and Palrlcla S, Greenberg 212 Indian Creek Rood Mechanlcsburg, PA 17055 Lender: PENNSYLVANIA STATE BANK 2145 Market Slreet P.O. Box 457 Camp Hili, PA 17011 AMOUNT OF GUARANTY, This Is a gueronty 01 paymsnl 01100,000% 01 the Nole, Including wllhoutllmllallon the principal Nole a:nounl 01 Forty ThouSllnd & 001100 Dollars ($40,000,00), GUARANTY, For good and valuable conslderallon, Mark Z, Greenberg and Patricia S. Greenberg ("Guarantor") absolutely and uncondlllonally guaranlees and promises to pay 10 PENNSYLVANIA STATE BANK ("Lender") or lis order, on demond, In legal tender 01 the Unlled States 01 America, 100,000% 01 the Indebtedneas (es thatlerm Is dellned below) 01 Greenberg and Compeny, P,C, ("Borrower") to Lender on tho terms end condlllons sel lorlh In this Guaranty, Guarantor agrees that Lender, In lis sole dlscrellon, may determine which porllon 01 Borrower's Indebledness to Lender Is covered by Guarantor's percenlage guaranty, DEFINITIONS. Thalollowlng words shsll have thalollowlng meanings when used In Ihls Guaranty: aorrower, Tho word "Borrowe," means Greenberg and Company, P,C.. Guarantor, The word "Guarantor" means Mark Z. Greenberg and Patricia S, Greenberg, Guarsnty, The word "Guaranly" means this Guaranty made by Guarantor for Ihe benefit 01 Lender daledFebruary I, 1995. Indebtedneas. The word "Indebledness" means the Note, Including (a) all principal, (b) alllnlerest, (c) ell late charges, (d) all loan lees and loan cherges, end (e) all collecllon costs and expenses relating 10 the Note or 10 any collateral for the Nole. Collection cosls and expenses Include wllhoulllmllatlon all of Lender's allorneys' fees end Lender's legal expenses, whelher or not sullls Insllluted, and allorneys' fees and legal expanses lor benkruplcy proceedings (Including efforts to modify or vacate any aulomatlc stay or Injunction), appeals, end any anticipated post-judgmenl collection services. Lender, The word "Lende~' means PENNSYLVANIA STATE BANK, Ifs successors and assigns. Nole, The word "Nole" meens the promissory note or credlf agreement dated February 1, 1995, In lhe original prlnclpolomounl 01 $40,000.00 Irom Borrower 10 Lender, together wllh ell renewals of, extensions of, modifications of, relinanclngs 01, consolldallons 01, and subslllutlons lor the promissory nolo or agreement. Nollce 10 Guaranlor: The Note eVidences a revolving line 01 credlllrom Lender to Borrower, Related Documents. The words "Relaled Documenls" mean and Include wlfhoul limitation all promissory notes, crodll agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, and all other Instruments, agreements and documenls, whelher now or hereafter exlsllng, execuled In connection with the Indebtedness. MAXIMUM LIABILITY, The maximum liability 01 Guarantor under this Guaranty shall nol exceed at anyone time 100,000% olth. amount 01 the Indebtedness described above, plus all costs and expenses 0' (a) enlorcement 01 this Guaranty and (b) collection and sale 01 any collateral securing this Guoranly, The ebove IImllellon on liability Is not a rastrlcllon on the amount of Ihe Indebtedness 01 Borrower to Lendar ellher In the aggregate or al anyone time. If Lender presenlly holds one or more guaranlles, or hereafler receives addlllonal guaranllas from Guarantor, the rights of Lender under all guaranties shell be cumulallve. This Gueranly shall nol (unless specifically provided below 10 the contrary) affect or invalidate any such other gueranlies, The lIablllly 01 Guarantor will be Ihe aggregate liablllly of Guerantor under Ihe lerms of this Guaranty and any such other unlermlnated gueranlles, NATURE OF GUARANTY, Guarenlor Inlends to guarantee al all limes Ihe perlormance and prompl paymenl when due, whelher et maturlly or earlier by reason of accelerellon or otherwise, of alllndebtednesswllhln Ihe limits sel forth In the preceding secllon 01 this Guaranly, This Guaranty covers a revolving line 01 credit and guoranlor understands and agrees Ihat this guarantee shall be open end conllnuous until the line 0' credit Is terminated and Ihe Indebledness Is paid In lull, as provided below, DURATION OF GUARANTY, This Guaranty will take eflect when received by Lender without the necessity 01 any acceptance by Lender, or any nolice to Guerantor or 10 Bcrrowar, and will conllnue In lull lorce 'untlt all Indebledness shall have been lully and finally paid and satisfied and all other obllgallons 01 Guaranlor under this Guaranty shall have been performed In lull, Rolease of any olher guarantor or termination of any other guaranty of the Indebladness shell nol aflect the liability of Guarantor under this Guaranly, A revocallon received by Lender from anyone or more Gua,anlors shall not aflecl the liability of any remaining Guaranlors under this Guaranly, This Guaronly covers a revolving fine 01 credit and It Is speclllcally entlclpeted that lIuclueflons will occur In lhe oggregale amount 01 Indebledness owing Irom Borrower to Lender, Grantor speclllcally acknowledges and agrees thatlluctuatlons In Ihe amount 01 Indebtedness, even to zero dollars ($ 0.00), shall not constitute a termlnaflon 01 this Gueranty, Gua,antor'sllabllltyunder this Guaranty shall terminate only upon (a) lermlnallon In writing by Borrower and Lender olthe fine 01 credll,(b) payment 01 the Indeblednessln lull In legal tender, end (c) payment In lull In legal tender 01 ell olher obligations 01 Guarantor under this Guaranty. GUARANTOR'S AUTHORIZATION TO LENDER, Guarantor aulhorlzes Lender, without nollce or demand and wlthoul lessening Guaranlor's liability under this Guaranty, Irom lime to time: (a) to make one or more addlllonal secured or unsecured loans to Borrower, to lease equlpmenl or other goods to Borrower, or otherwise to extend additional credit 10 Borrower; (b) to aller, compromise, renew, extend, occelerale, or olherwlse Change one or more IImeslhe time lor payment or other terms 01 the Indebtedness or any parl 01 the Indebtedness,' Including Increases and decreases 01 the rale 01 Interest on the Indebtedness; extensions may be repeated and may be lor longer than Ihe orlglnalloan term; Ie) to toke and hold security lor Ihe payment 01 this Guaranty or the Indebtedness, and exchange, enloree, waive, lall or decide not to perlecl, and release any SUCh security, wllh or wllhout the substltullon of new collateral; (d) to release, substitute, agree not to sue, or deal wllh anyone or more of 8orrowe~'s surelles, endorsers, or other guarantors on any terms or In any manner Lender may chooscj (e) to determine how, when and whal appllcollon 01 payments and credits shell be made on the Indebtedness; (I) to apply such securfly and direct the order or manner 01 sole thereol, Including without IImltaflon, any nonjudicial SIlle permllled by the terms 0' lhe controlling securlly agreement or deed of trust, as Lender In Its dlscrellon may determine; (g) to sell, transler, assign, or grant parllclpallons In all or any part 01 the Indebtedness; end (h) 10 assign or tronsler this Guaranty In Whole or In part. , GUARANTOR'S REPRESENTATIONS AND WARRANTIES, Guaranlor represents and warranls to Lender that (a) no representations or agreements 02-01-1995 Loan No 5003595-01 COMMERCIAL GUARANTY (Continued) Page 2 of any kind have been made to Guaranlor which would IImil or qualify In any way the lerms of Ihls Guaranty; (b) this Guaranly Is executed 01 Borrower's request and nol atlhe request 01 Lender; (c) Guaranlor has not and will not, wilhoullhe prior wrlllen consenl 01 Lender, sell, lease, assign, encumber, hypolhecale, Iransler, or olherwlse dispose of ell or substantially all 01 Guaranlor's assels, or any Inle,esl Ihereln; (d) Lender has made no represenlallon to Guarentor as to the credllworlhlness 01 Borrower; (e) apon Lendar's request, Guaranlor will provide 10 Lender financial and credil Informallon In lorm acceptable 10 Lender, end all such f1nanclallnlormallon provldod 10 Lendor Is truo and correct In all material respecls and lolrly presents the financial condlflon 01 Guaranlor as of tho dales Ihoroof, and no malorlal adverse chonge has occurred In the financial condlllon of Guaranlor since the dale of the financial stalements; and (f) Guaranlor has established adequale means of oblalnlng from Borrower on a conllnulng basis Informallon regarding Borrower's financial condlllon, Guaranlor agrees to koep adequately Informed from such means 01 any lacls, events, or clrcumslances which mlghl In any way alfect Guarantor's risks undor this Guaranty, and Guarantor lurlher agrees that Lender shail have no obllgallon to disclose to Guaranlor any Inlormallon or documents acqul,ed by Lender In the course of ilS relallonshlp wilh Borrower. GUARANTOR'S WAIVERS, Excepl as prohibiled by applicable law, Guarantor walvas any right 10 require Lender (a) 10 conllnue lending money or to extend olher credilto Borrowar; (b) to make any presentmenl, p,olest, demand, or nollce 01 any kind, Including nollce 01 any nonpaymonl of Ihe Indebtedness or of any nonpayment related 10 any collaleral, or notice 01 eny acflon or nonactlon on the part of Borrower, Lender, any surety, endorser, or other guarantor In connacflon with Ihe Indobledness or In connecllon wilh the creallon of new or addlllonalloans or obllgallons; (c) 10 resort for paymenl or to proceed dlrocfly or at once agalnsl any person, Including Borrower or any othor guaranlor; (d) 10 proceed dlreclly against or exhaust any collaleral held by Lender f,om Borrower, any olher guaranlor, or any olhar person; (e) 10 give nollce 01 the lerms, lime, and place 01 any public or private .ale 01 personal property security held by Lender from Borrower or fo comply wilh any olher applicable provisions 01 Ihe Uniform Commercial Code; (f) to pursue any olher remedy within Lender's power; or (g) to commit any acl or omission of any kind, or al any time, with respect to any matter whatsoever, If now or herealfer (a) Borrower shall be or become Insolvenl, and (b) Ihe Indebledness shall not el ell times until paid be fully securad by collaterel pledged by Borrower, Guarantor hereby forever waIves and relinquIshes In favor of Lender and Borrower, and their respecllve successors, any claim or right 10 payment Guaranlor m.-\' now have or hereailer have or acquire agalnsl Borrower, by subrogailon or olherwlse, so Ihal al no lime shall Guaranlor be or become a 'c'e':lor' 01 Borrower wilhln the meaning 0111 U.S,C. section 547(b), or eny successor provision of the Federel bankruptcy lews, Guarantor also wolves any and all rights or delenses arising by reason of (a) any 'one aclion' or 'enll-deticlency' law or any other law which may prevent Lender from bringing any ecllon, Including a claim for deficiency, against Guarantor, belore or afler Lender's commencement or complellon 01 any foreclosure acllon, either judlclelly or by exe,clse of a power 01 sale; (b) any eleclion 01 remedies by Lender which deslroys or otherwise adversely affects Guarantor's subrogallon rights or Guaranlor's rights 10 proceed against Borrower for reimbursement, Including wlthoulllmitallon, any loss of rig his Guarantor may sulfer by reason 01 any law limiting, qualifying, or discharging the Indebledness; (c) any disability or olher delense of Borrower, 01 any other guarantor, or of any other person, or by reason of the cessation of Borrower's liabllily from any cause whatsoever, other than payment In full In legal lender, 01 the Indebledness; (d) eny righlto claim discharge ollhe Indebledness on the basis ot unjustified Impairment 01 any collateral for the Indebtedness; (e) any slatute of limitations, II al any lime any action or suit brought by Lender against Guarantor Is commenced there Is oulslandlng Indebledness of Borrower 10 Lender which Is not barred by any eppllcable statute ollimllallons; or (f) any defenses given 10 guarantors at law or In eqully olher than actual payment and perlormance of the Indebtedness, II peymentls made by Borrower, whether volunlarlly or otherwise, or by any third party, on the Indebtedness and thereelter Lender Is forced 10 remil the amount of that payment 10 Borrower's trustee in bankruptcy or to any similar person under any laderal or state bankruptcy law or law for the reliel of debtors, the Indebledness shall be considered unpaid for the purpose of enforcement of this Guaranly, Guarantor lunher waives and agrees not 10 assert or claim al any time eny deducllons to the amount guaranteed under this Guaranty for any claim 01 selolf, counterclelm, counter demand, recoupment 0' similar right, whether such claim, demand or righl may be asserted by the Borrower, the Guerantor, or both, GUARANTOR'S UtlDERSTANDING WITH RESPECT TO WAIVERS, Guarentor warrants end agrees thai each of Ihe waivers sel forth above Is made with Guaranlor's full knowledge of its significance and consequences and that, under the clrcumslances, the waivers are reasonable and not conlrary to pUblic policy or law, If any such waiver Is delermined to be contrary 10 any applicable law or public policy, such waiver shall be elfecllve only to Ihe extentpermllled by law or public policy. LENDER'S RIGHT OF SETOFF, In addition to all liens upon and rights of selolf against Ihe moneys, securilles or other property 01 Guarantor given to Lender by law; Lender shall have, wllh respect to Guarantor's obligetions 10 Lender under this Gueranty end to Ihe extent permilted by law, e conlractual possessory security Interest in and a righl of selolf against, and Guerantor hereby esslgns, conveys, delivers, pledges, and I,ansfers to Lender all 01 Guarantor's right, Iitle and Interest In and to, all deposils, moneys, securilles end other property of Guarantor now or herealter In the possession 01 or on deposit with Lender, whether held In a general or special accounl or deposll. whether held jointly wllh someone else, or whelher held for safekeeping or otherwise, excluding however ell IRA, Keogh, end trust eccounls. Every such secu"ty Interest and right of setolf may be exercised wllhout demand upon or nollce to Guarantor, No securily Interest or right 01 setolf shall be deemed to have been waived by any acl or conduct on the pari of Lender or by any neglect 10 exercise such right of setolf or 10 enlorce such securlly Inlerest or by any delay In so doing, Every right of setolf and security Interest shall continue In full force and elfect unlit such rig hi of setolf or securlly inte,estls specifically welved or releesed by an Instrument In wrlllng execuled by Lender, SUBORDINATION OF BORROWER'S DEBTS TO GUARANTOR. Guarentor agrees thai the Indebledness of Borrower to Lender, whether now 9xlstlng or hereafler created. shall be prior to any claim that Guarantor may now have or hereafter acquire against Borrower, whether or not Borrower , becomes Insolvent. Guarantor hereby expressly subordinates any claim Guarantor may have against Borrower, upon any account whatsoever, to any claim that Lender may now or hereafter have against Borrower. In the event of Insolvency and consequent Iiquhiatlon of the assets of Borrower, through bankruptcy. by an asslgnmenl for the benelit of creditors, by voluntary liquidation, or otherwise, Ihe assets of Borrower applicable to the payment of the claims of both Lender and Guarantor shall be paid 10 Lender and shall be first applied by Lender to Ihe Indebtedness 01 Borrower to Lender, Guarantor does hereby assign to Lender all claims which it may have or acquire against Borrower or against any aSSignee or trustee in bankruplcy 01 Borrower; provided however, that such assignment shall be elfectlve only lor the purpose of assuring to Lender lull payment In legal tender of the Indebtedness. If Lender so requests. any notes or credit agreements now or hereafter evidencing any debts or Obligations of Borrower to Guarantor shall be marked wllh a legend thai the same ere subject 10 this Guaranly and shall be delivered to Lender. Guarantor agrees, and Lender hereby Is authorized, In the name of Guarantor. from lime to time 10 execute and file financing statements and continuation statements and to execute such other documents and to take such other actions as Lender deems necessary or appropriate to perfect, preserve and enforce lis rights under U"lis Guaranty, MISCELLANEOUS PROVISIONS, The following miscellaneous provisions ere a pari oflhls Guaranty: Amendments, This Guaranly, logether wilh eny Related Documenls, constitules the entire understanding and agreement of the parl;es as to the malters sel fonh In this Guaranly, No allerallon of or amendment to this Guaranty shall be elfecllve unless given In writing and signed by the party or panies sought 10 be charged or bound by the alleratlon or amendment. Applicable Law, This Guaranty has, 'r delivered to Lender end accepted by Lender ie Commonweallh of Pennsylvania. If there Is a lawsuit. Gueranlor agrees upon Len...,..;s request to submil 10 the jurisdicllon 01 the _,,",is 01 Cumberland County, Commonweallh 01 .. Pennsylvenla, This Guaranty shall be governed by and conslrued In accordance with the laws 01 the Commonweallh of Pennsylvania. ," ::,-"" ..\..-....,~. .-..., COMMERCIAL GUARANTY (Continued) /-'- Page 3 10-03-1995' Loan No 6003595-03 Attorneys' Fees; ExpenllCls, Guarantor agraes to pay upon demand all of Lender's cosls and expenses, Including altorneys' lees and Lender's legal expenses, Incurred In conneclton with the enlorcement ollhls Guaranly. Lender may pay someone else 10 help enforce this Guaranly, and Guarantor shall pay Ihe cosls and expenses 01 such enforcement. Cosls and expenses Include Lender's altorneys' foos and legal expenses whelher or not thore Is a lawsull, Including altorneys' foes and legel expenses for bankruplcy proc06dlngs (and Including oltorls to modify or vacale any aulomallc slay or InJunction), appeals, and any anllclpaled posl-Judgmenl collocllon servlcos, Guarenlor elso shall pay all court cosls and such eddlllonal fees as may be dlrecled by Ihe court. Notices, All nolices required 10 be given by ellher perty to Ihe olher undor this Guarenly shall be In wrlllng, may bD sDnt by lelelDcslmlllD, Dnd shall ba effecllve when oclually delivered or when deposited wllh a nallonally recognized overnlghl courier, or when deposllod In Ihe Unlled Steles mall, Ilrst class poslege prepaid, addressed to Ihe parly to whom the nollce Is 10 be given et the address shown above or 10 such other addresses es ellher party may deslgnalo to the other In wrlllng. If there Is more than one Guarantor, nollce to any Guaranlor will constllule nollce 10 all Gua,anlors, For nollce purposes, Guarantor agrees to keep Lender Inlormed at all limes 01 Guarantor's currenladdress. Interpretation, In all cases where there Is more Ihan one Borrower or Guaranlor, than all words used In Ihls Guaranty In the singular shall be deemed to hava been used In tha plural where Ihe contexl and conslrucllon so require; and whare thare Is more than one Borrower namad In this Guaranly or when Ihls Gueranly Is executed by more Ihan one Guaranlor, Ihe words 'Borrowor" and 'Guaranlor" respecllvely shall moan all and anyone or more of them, The words "Guaranlor," "Borrower." and '1.ender" include the heIrs, successors, assigns, and transferees 0' each 0' Ihem, Capllon headings In Ihls Guaranty are for convenlenco purposes only and are not 10 ba used to Interprel or dellne the provisions ollhls Guaranly. If a court of compelenljurlsdlcllon finds any provision of Ihls Guaranty to be Invalid or unenforceable as to any person or circumstance, such finding shall not render Ihat provision Invalid or unenforceable as 10 any olher persons 01 clrcumslances, and all provisions of Ihls Guaranly In all other respecls shall remain valid and enforceable, If anyone or more 01 Borrower or Guaranlor are corpora lions or partnerships, It Is not necessary lor Lender to Inquire Inlo Ihe powers of Borrower or Guarantor or ollhe officers, dlreclors, partners, or agenls acllng or purporting 10 acl on Ihalr behalf, and any Indebtedness made or ,created In reliance upon the professed exercise of such powers shall be guaranteed under this Guaranly, ' Waiver, Lender shall not be deemed to have waived any rlghls under Ihls Guaranly unless such waiver Is given In writing and signed by Lender, No dalay or omission on Ihe part of Lender In exercising any rlghl shall operale es a waiver of such rlghl or any olher righi, A waiver by Lendor of a provision of this Guaranly shalt not prejudice or conslllute a waiver 01 Lender's right olherwlse to demand strlcl compliance wllh that provision or any olher provision of this Guaranty, No prior waiver by Lender, nor any course 01 dealing between Lender and Guarantor, shall conslilule a walvar of any of Lender's rig his or of any of Guaranlor's obligations as to any luture transacllons, Whenevar Ihe consent of Lender Is required undar Ihls Guaranty, the granllng of such consent by Lender In any Ins lance shall nol conslllule conllnulng consent to subsequent Instances whore such consenlls required and In all cases such consent may be granted or withheld In Ihe sole dlscrellon of 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 INTEREST, TOGETHER WITH COSTS OF SUIT, AND AN ATTORNEY'S COMMISSION OF TEN PERCENT (10%) OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, BUT IN ANY EVENT NOT LESS THAN FIVE HUNDRED DOLLARS ($500) 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 BY ANY EXERCISE OF THAT AUTHORITY, BUT SHALL CONTINUE 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 WITH 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 LEN ER I CESSARY TO MAKE THIS GUARANTY EFFECTI E, THIS G ARA TY IS DATED OCTOBER 3, 1995, i ' G xW: X ) )SS ) JcJft--,'-f 1!i/~/t~. LASER PAD, Reg. U.S. Pal. & T,M. Off., Ver. 3.20b (c) 1995 CFI ProScrvlces, Inc. 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