SAMPLE GUARANTEE AGREEMENT

[name of person guaranteeing obligation], referred to as Guarantor, hereby guarantees the payment to [name of creditor], referred to as to the
Obligee of the following obligation(s) of [name of debtor]:

     [describe debt guaranteed]

and any extensions, modifications or novations thereof.

TERMS OF GUARANTEE

The Guarantor waives:

     notice of nonpayment, protest, notice of protest or other such notice;
     diligence by [name of creditor] in collection of any obligation guaranteed herein;

The Obligee may:

     release co-guarantors if any;
     surrender or release any and all security or collateral;
     grant renewals, extensions or modifications of the obligation or indebtedness;

without affecting the Guarantors obligations herein.

The Obligee shall not have to:

     exhaust any remedies it may have against [name of debtor];
     give notice of acceptance of this guarantee;
     first institute suit against [name of debtor] prior to demanding payment under this guarantee;

and may in its discretion seek to enforce this guarantee solely against Guarantor.

The guarantor may revoke this guarantee upon written notice to the Obligee; however, such revocation shall not affect the liability accrued to that
date, if any.

This is the entire agreement of the parties named herein. This agreement may only be modified by a written agreement executed by both
parties.

 

Dated: ____________________________

 

_____________________________________________
Guarantor

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