Guarantee agreement template (US)

Personal Guaranty

This Guaranty is made on Guaranty Date by Guarantor Name, residing at Guarantor Address ("Guarantor"), in favor of Creditor Name, at Creditor Address ("Creditor").

1. Background

Creditor has agreed to Describe the Credit, Lease or Contract, such as a Loan, a Commercial Lease or a Supply Account (the "Underlying Agreement") with Borrower Name ("Borrower"), dated Underlying Agreement Date. Creditor requires this Guaranty as a condition, and Guarantor will benefit from the Underlying Agreement because Guarantor's Interest, such as Owner of Borrower.

2. Guaranty

Guarantor unconditionally guarantees to Creditor the full and prompt payment of Guaranteed Obligations, such as All Amounts Borrower Owes under the Underlying Agreement when due (the "Guaranteed Obligations"). Guarantor's total liability under this Guaranty will not exceed $Maximum Liability, plus reasonable costs of enforcing this Guaranty.

3. Guaranty of Payment

This is a guaranty of payment and not merely of collection. Creditor may demand payment from Guarantor after Borrower fails to pay when due and Creditor gives Guarantor written notice, without first suing Borrower or enforcing any collateral, to the extent the law allows. Guarantor will pay within Payment Days days after written demand.

4. Waivers

To the extent the law allows, Guarantor waives notice of acceptance of this Guaranty, presentment, demand for payment from Borrower, protest, and notice of dishonor. Guarantor agrees that Creditor may extend time for payment, renew or modify the Underlying Agreement, or release or exchange collateral without affecting this Guaranty, except that Guarantor's liability will not be increased beyond Section 2 without Guarantor's written consent.

5. Continuing Guaranty and Termination

This is a continuing guaranty and stays in effect until End Date or Event, such as Full Payment of the Guaranteed Obligations. Guarantor may end it as to future obligations by written notice to Creditor, but remains liable for obligations that arose before Creditor receives the notice.

6. Reinstatement

If any payment Creditor receives is later recovered from Creditor in a bankruptcy or similar proceeding, this Guaranty is reinstated as to that payment.

7. Subrogation

Guarantor will not seek repayment from Borrower for amounts paid under this Guaranty until the Guaranteed Obligations are paid in full.

8. Guarantor's Statements

Guarantor states that Guarantor has read the Underlying Agreement, has the capacity to sign this Guaranty, and has had the chance to consult a lawyer. Financial information Guarantor has given Creditor is true and complete.

9. Spouse

If required by the law of Guarantor's state of residence, Guarantor's spouse signs below only to consent to Creditor's access to community or marital property: Spouse Consent Required or Not Required. Under the federal Equal Credit Opportunity Act, a creditor may not require a spouse to sign as a guarantor solely because of the marriage.

10. General

This Guaranty is governed by the laws of the State of Governing State. It binds Guarantor's heirs and estate and benefits Creditor's successors and assigns. If any part is unenforceable, the rest stays in effect. It may be changed only in a writing signed by Guarantor and Creditor.

| Guarantor | Creditor |

| --- | --- |

| Signature: Guarantor Signature | Signature: Creditor Signature |

| Name: Guarantor Printed Name | Name: Creditor Printed Name |

| Date: Guarantor Signing Date | Date: Creditor Signing Date |

Spouse consent, if required: Spouse Signature and Printed Name