Personal Guarantee

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Parties›Guaranteed Obligation›Scope of Guarantee…

Parties13 questions

1. What type of business entity is the company entering into this document?

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2. Which state's law governs this guarantee?

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3. Guarantor's full legal name

4. Guarantor's home address (street, city, state, ZIP)

5. In what capacity is the guarantor signing?

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6. Are there multiple guarantors on this guarantee?

7. Is the guarantor currently married or in a registered domestic partnership?

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8. Creditor's full legal name

9. Creditor's principal business address

10. Does the creditor act through a loan servicer, administrative agent, property manager, or other representative?

11. Principal obligor's full legal name (the business)

12. What type of entity is the principal obligor?

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13. Effective date of this guarantee

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Guaranteed Obligation5 questions

14. What type of underlying obligation is being guaranteed?

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15. What credit accommodation or consideration supports the guarantor's obligation under this guarantee?

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16. Describe the underlying obligation being guaranteed

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17. Which categories of obligations does this guarantee cover?

18. Is the guarantee limited to a maximum dollar amount, or is it unlimited?

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Scope of Guarantee5 questions

19. Is this an absolute (unconditional) or conditional guarantee?

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20. Is this a continuing guarantee - covering future advances, renewals, and modifications?

21. Does the guarantee remain in effect if the underlying agreement is modified, extended, or amended without the guarantor's consent?

22. Must the creditor make a formal written demand on the guarantor before payment becomes due?

23. Should the guarantee reinstate if payments are avoided, clawed back, or returned in bankruptcy or insolvency proceedings?

Guarantor's Waiver of Defenses7 questions

24. Does the guarantor waive the right to receive notice of the principal's default?

25. Does the guarantor waive the right to receive notice of changes, extensions, renewals, or modifications to the underlying agreement?

26. Does the guarantor waive notice of the creditor's acceptance of the guarantee and notice of each future credit extension?

27. Does the guarantor waive suretyship defenses - impairment of collateral, release of co-guarantors, election of remedies, and marshaling?

28. Does the guarantor waive any requirement that the creditor first pursue collection against the principal, collateral, or other guarantors before suing the guarantor?

29. Does the guarantor waive the right to assert setoff, counterclaim, or recoupment against the creditor's claim on the guarantee?

30. Should the guarantee address the guarantor's homestead or other exempt-property protections?

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Guarantor Representations3 questions

31. Include a guarantor representation that they have full legal authority to enter into this guarantee?

32. Include a representation that the guarantor has independently reviewed the principal's financial condition and is not relying on the creditor for information about the principal?

33. Include a representation that the guarantor is not subject to any pending litigation, judgment, or bankruptcy that would materially affect their ability to perform?

Subrogation & Indemnification3 questions

34. How should the guarantor's right of subrogation be handled?

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35. Include a contractual right of indemnification from the principal (the business) in favor of the guarantor?

36. Should the guarantor's subrogation, indemnity, and reimbursement claims against the principal be subordinated to the creditor's claims until the creditor is paid in full?

Term & Termination4 questions

37. When does this guarantee terminate?

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38. What conditions, if any, release the guarantor from existing obligations (in addition to full payment)?

39. Which obligations survive the guarantee's expiration, revocation, or full payment?

40. What happens to the guarantee if the guarantor dies, becomes incapacitated, is dissolved (if an entity), or files for bankruptcy?

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Collateral1 question

41. Is this personal guarantee secured by any collateral pledged by the guarantor?

Dispute Resolution2 questions

42. How should disputes be resolved?

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43. Include a mutual jury trial waiver?

Assignment2 questions

44. May the creditor assign the guarantee to a successor, acquirer, or assignee of the underlying obligation?

45. Should the guarantee expressly bind the guarantor's heirs, estate, successors, and permitted assigns - and benefit the creditor's successors and assigns?

Principal / Guarantor Covenants1 question

46. Must the guarantor provide ongoing financial reporting to the creditor?

Default and Enforcement2 questions

47. What events constitute a default under the guarantee itself (independent of the principal's default)?

48. May the creditor set off deposits, accounts, or other amounts the creditor holds for the guarantor against amounts owed under the guarantee?

Execution4 questions

49. May the guarantee be signed in counterparts (separate signature pages) or electronically?

50. Is notarization or witnessing required for the guarantor's or spouse's signature?

51. Should the guarantor acknowledge having had the opportunity to consult independent legal counsel before signing?

52. Will this document be signed electronically?optional

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Required - please read and check this box to generate:ArtiEsq provides self-help legal information and document automation. ArtiEsq is not a law firm, does not provide legal advice, and use of this product does not create an attorney-client relationship. You are responsible for reviewing the document and determining whether you should consult a licensed attorney for legal advice about your specific situation.

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