Letter of Limited Guaranty

Letter of Limited Guaranty : Please fill out the following form. Please print your completed form if you would like to have a copy for your records.

BE IT KNOWN, for good consideration and as an inducement for(Creditor) to extend credit from time to time to (Customer) the undersigned jointly, severally and unconditionally guarantee to Creditor the prompt and punctual payment of certain sums now or hereinafter due Creditor from Customer, provided that the liability of the guarantors hereunder, whether singularly or collectively, shall be limited to the sum of $_________ as a maximum liability and guarantors shall not be liable under this guarantee for any greater or further amount.

The undersigned guarantors agree to remain fully bound on this guarantee, notwithstanding any extension, forbearance, indulgence or waiver, or release or discharge or substitution of any party or collateral or security for the debt. In the event of default, Creditor may seek payment directly from the undersigned without need to proceed first against borrower.

Guarantors further waive all suretyship defenses consistent with this limited guaranty. In the event of default, the guarantor shall be responsible for all attorneys’ fees and reasonable costs of collection, which may be in addition to the limited guaranty amount.

This guaranty shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.

Signed this day of (date with year) :

In the presence of :

Witness :

Witness :

Guarantor :

Guarantor :

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    Letter of Limited Guaranty
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