Orange County NC Website
Browse       Search
ESBLPLSA <br /> <br />PERSONAL GUARANTY <br /> <br /> IN CONSIDERATION of the Loan made by Orange County Small Business Loan Company <br />(referred to below as the “Company”) to Notelknurc, LLC (North Carolina Limited Liability Company) or <br />(hereinafter referred to as “Borrower”), the undersigned (hereinafter referred to as “Guarantor”), each <br />absolutely and unconditionally, guarantees to the Company the punctual payment in full of the principal, <br />interest and other sums due under that certain promissory note from Borrower to Company dated June <br />1, 2020, (hereinafter referred to as “Note”) which obligations, indebtedness and liability set forth therein <br />are hereinafter referred to as “indebtedness.” <br /> <br /> The Guarantor expressly waives the following: notice of the incurring of indebtedness by the <br />Borrower; the acceptance of this Guaranty by the Company; presentment and demand for payment, <br />protest, notice of protest and notice of dishonor or nonpayment of any instrument evidencing <br />indebtedness of the Borrower; any right to require suit against the Borrower or any other party before <br />enforcing this Guaranty; and any right of subrogation to the Company’s rights against the Borrower until <br />the Borrower’s indebtedness is paid in full. <br /> <br /> The Guarantor hereby consents and agrees that renewals and extensions of time of payment, <br />surrender, release, exchange, substitution, dealing with or taking of additional collateral security, taking <br />or release of other guarantees, abstaining from taking advantage of or realizing upon any collateral <br />security by the Company to the Borrower or any other party, may be made, granted, and effected by <br />the Company without notice to each Guarantor and without in any manner affecting his or her liability <br />hereunder. <br /> <br /> In the event that a petition in bankruptcy or reorganization of the Borrower under the bankruptcy <br />laws or for the appointment of a receiver for the Borrower or any of its property is filed by or against the <br />Borrower, or if the Borrower shall make an assignment for the benefit of creditors or shall become <br />insolvent, all indebtedness of the Borrower pursuant to the Note shall, for the purpose of this Guaranty, <br />be deemed at the Company’s election to have become immediately due and payable. <br /> <br /> Any notice to Guarantor by the Company at any time shall not imply that such notice or any <br />further or similar notice was or is required. <br /> <br /> The Guarantor further agrees to pay the Company any and all costs, expenses and reasonable <br />attorneys’ fees paid or incurred by the Company in collecting or endeavoring to collect the <br />indebtedness of the Borrower or enforcing or endeavoring to enforce this Guaranty. <br /> <br /> This Guaranty shall be binding upon each Guarantor and his or her heirs, executors, <br />administrators and assigns, jointly and severally, and shall inure to the benefit of the Company and its <br />successors and assigns. <br /> <br /> This Guaranty may be executed in two or more counterparts, each of which shall be deemed <br />an original, but all of which together shall constitute one and the same instrument. For purposes hereof, <br />a facsimile copy of this Guaranty, including the signature pages hereto, shall be deemed to be an <br />original. Notwithstanding the foregoing, the parties shall deliver original execution copies of this <br />Guaranty to one another as soon as practicable following execution thereof. <br /> <br /> IN WITNESS WHEREOF, this Guaranty has been executed and delivered to the Company by <br />each undersigned Guarantor this June 1, 2020. <br /> <br /> <br /> <br /> <br />DocuSign Envelope ID: 45257F9C-A8D2-4C71-A2D4-FB4983D17AEB