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DocuSign Envelope ID: E51FEDB4-DE67-4E2D-A34B-153D3BEADB7E <br /> EXHIBIT C - FORM OF PERSONAL GUARANTY <br /> IN CONSIDERATION of the Loan made by Orange County Small Business <br /> Loan Company (referred to below as the "Company") to Boro Beverage Company, <br /> LLC, a North Carolina limited liability company (hereinafter referred to as "Borrower"), <br /> the undersigned (hereinafter referred to as "Guarantor"), each absolutely and <br /> unconditionally, guarantees to the Company the punctual payment in full of the <br /> principal, interest and other sums due under that certain promissory note from Borrower <br /> to Company dated February 25, 2019, (hereinafter referred to as "Note") which <br /> obligations, indebtedness and liability set forth therein are hereinafter referred to as <br /> "indebtedness." <br /> The Guarantor expressly waives the following: notice of the incurring of <br /> indebtedness by the Borrower; the acceptance of this Guaranty by the Company; <br /> presentment and demand for payment, protest, notice of protest and notice of dishonor <br /> or nonpayment of any instrument evidencing indebtedness of the Borrower; any right to <br /> require suit against the Borrower or any other party before enforcing this Guaranty; and <br /> any right of subrogation to the Company's rights against the Borrower until the <br /> Borrower's indebtedness is paid in full. <br /> The Guarantor hereby consents and agrees that renewals and extensions of <br /> time of payment, surrender, release, exchange, substitution, dealing with or taking of <br /> additional collateral security, taking or release of other guarantees, abstaining from <br /> taking advantage of or realizing upon any collateral security by the Company to the <br /> Borrower or any other party, may be made, granted, and effected by the Company <br /> without notice to each Guarantor and without in any manner affecting his or her liability <br /> hereunder. <br /> In the event that a petition in bankruptcy or reorganization of the Borrower under <br /> the bankruptcy laws or for the appointment of a receiver for the Borrower or any of its <br /> property is filed by or against the Borrower, or if the Borrower shall make an assignment <br /> for the benefit of creditors or shall become insolvent, all indebtedness of the Borrower <br /> pursuant to the Note shall, for the purpose of this Guaranty, be deemed at the <br /> Company's election to have become immediately due and payable. <br /> Any notice to Guarantor by the Company at any time shall not imply that such <br /> notice or any further or similar notice was or is required. <br /> The Guarantor further agrees to pay the Company any and all costs, expenses <br /> and reasonable attorneys' fees paid or incurred by the Company in collecting or <br /> endeavoring to collect the indebtedness of the Borrower or enforcing or endeavoring to <br /> enforce this Guaranty. <br /> This Guaranty shall be binding upon each Guarantor and his or her heirs, <br /> executors, administrators and assigns, jointly and severally, and shall inure to the <br /> benefit of the Company and its successors and assigns. <br /> Page 1 of 2 <br />