DIY Legal Forms

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Guarantee Agreement

[Name], referred to as Guarantor, in consideration of the extension of credit by [Name], Creditor, to [Name], Debtor, agrees:

Guarantor unconditionally guarantees to creditors and its successors and assigns, the full and complete payment, as and when the same becomes due and payable, the following obligations of the Debtor to the Creditor:

and in addition, all extensions, renewals and consolidations of the obligation, together with such interest and late charges as may accrue upon the same. For purposes of this agreement, the term "obligation," "agreement" or "debt" includes any renewals, replacements or modifications of the same;

Guarantor shall not be released from the obligations herein due to:

a) the taking of security for the obligation;

b) the failure or delay in taking legal action against the Debtor or collateral, if any;

c) any other actions permitted under the loan agreement;

d) any negligence or failure to act of the Creditor.

The Creditor, in its discretion, may bring suit against the Guarantor, or Guarantor(s), jointly severally or individually, before bringing action against the Debtor. The Creditor in its discretion may settle, release and compromise the liability of debtor or any other guarantor(s) of this agreement without affecting the liability of the Debtor.

This agreement shall bind the successor, heirs, administrators and legal representatives of the Creditor.




Witness (name and Address):


*** If Required By State Law ***

This Section for Notary:


State of _________

County of ________ [County]

On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Witness my hand and official seal.

Signature ________

My commission expires: _____