DIY Legal Forms

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Guaranty Of Another's Indebtedness

1. Guaranty. [Name], with offices at [address] (Guarantor), requests [name], with offices at [address] (Lender), to give to [name], residing at [address] (Borrower), such credit as Borrower may desire from time to time. In consideration of any credit given, Guarantor unconditionally guarantees prompt payment when due of any existing or future indebtedness or liability of Borrower to Lender.

2. Waiver of Notice of Granting of Credit. Guarantor waives notice of the acceptance of this Guaranty by Lender and of the extension of any credit to Borrower by Lender.

3. Waiver of Guarantor's Rights. Guarantor waives presentment, protest, notice, demand, or action on Borrower's delinquency with regard to any indebtedness or liability, including any right to require Lender to sue Borrower or otherwise enforce payment.

4. Continuation of Guaranty. This Guaranty will continue as to any indebtedness or liability of Borrower to Lender incurred prior to Lender's receipt of a written notice of the termination of this Guaranty signed by Guarantor.

5. Guaranty Valid Despite Other Security, Guarantors, Etc. Guarantor's liability is independent of any other guaranties that may be in effect at any time with regard to Borrower's indebtedness to Lender, and Guarantor's liability may be enforced by Lender regardless of the existence of other guaranties. Guarantor's liability may also be enforced by Lender if Borrower's indebtedness to Lender is secured by collateral or by other parties' guaranties. Any collateral, security, other guaranties and obligors may, from time to time, be sold, released, surrendered, exchanged, compromised, waived, subordinated, or modified by Lender, with or without consideration, on any terms acceptable to Lender, without notice to Guarantor and without affecting Guarantor's liability to Lender.

6. Guaranty Binding on Heirs, Representatives, etc. This Guaranty is binding upon Guarantor's heirs, personal representatives, and assigns and inures to the benefit of Lender's successors and assigns.

7. Limitation on Guaranty. While the amount of credit that may be extended by Lender to Borrower is not limited, Guarantor's liability to Lender shall not exceed ........ dollars ($........).

[dated]

[signature]

Guarantor

This Section for Notary:

Acknowledgment

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 ________
Notary

My commission expires: _____

(Seal)