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Guaranty of Collection
1. Identification of Parties and Obligation. I, [name]
(Guarantor), residing at [address], having received ........ as
consideration, guarantee collection of [list of principal obligations,
e.g., note, advances], executed by [name] (Obligor), residing at
[address], to [name] (Obligee), residing at [address].
2. Limitation of Guaranty. This is a guaranty of collection
only. As Guarantor, I will not make any payment to Obligee until
Obligee diligently takes all legal steps to collect from Obligor and
fails at those attempts.
3. Waivers. As Guarantor, I waive presentment, notice of
dishonor, and protest in regard to this Guaranty of collection.
*** 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.
My commission expires: _____