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Real estate law LeaseGuarantee

Real estate law LeaseGuarantee - EXERCISE NUMBER 15...

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Unformatted text preview: EXERCISE NUMBER 15 GUARANTEEOFLEASE , WHEREAS, a certain Lease of even date herewith has been, or will be, executed by and between therein and herein referred to as "Landlord" and , therein referred to as "Tenant", covering certain premises in the City of , County of __, State of ; and WHEREAS, the Landlord under said Lease requires as a condition to its execution of said Lease that the undersigned guarantee the full performance of the obligations of Tenant under said Lease; and WHEREAS, the undersigned is desirous that Landlord enter into this Lease with Tenant, NOW THEREFORE, in consideration of the execution of said Lease by Landlord, the ‘undersigned hereby unconditionally guarantees the full performance of each and all of the terms, covenants and conditions of said Lease to be kept and performed by said Tenant, including the payment of all rentals and other charges to accrue thereunder. The undersigned further agrees as follows: 1. That this covenant and agreement on its part shall continue in favor of the Landlord notwithstanding any extension, modification, or alteration of said Lease entered into by and between the parties thereto, or their successors or assigns, or notwithstanding any assignment of said Lease,with or without the consent of the Landlord, and no extension, modification, alteration or assignment of the above referred to Lease shall in any manner release or discharge the undersigned and it does hereby consent thereto. 2. This Guarantee will continue unchanged by any bard:- ruptcy, reorganization or insolvency of the Tenant or any successor or assignee thereof or by any disaffirmance or abandonment by a trustee of Tenant. 3. Landlord may, without notice, assign this Guarantee of Lease in whole or in part and no assignment or transfer of the Lease shall operate or extinguish or diminish the liability of the undersigned hereunder. 4. The liability of the undersigned under this Guarantee of Lease shall be primary and,in any right of action which shall accrue to Landlord under the Lease, the Landlord may, at its option, proceed against the undersigned without having commenced any action, or having obtained any judgment against the Tenant. 5. To pay Landlord‘s’ reasonable attorney‘s fees and all costs and other expenses incurred in any collection or attempted collection or in any negotiations relative to the obligatioris hereby guaranteed or enforcing this Guarantee of Lease agahast the undersigned, individually and jointly. 6. That it does hereby waive notice of any demand 13y Landlord, as ,well as any notice of default in the payment (of rent or any other amounts contained or reserved in the Leases. The use of the singular herein shall include the plural.‘rbe obligation of two or more parties shall be joint and several” The terms and provisions of this Guarantee shall be binding upcnx and inure to the benefit of the respective successors said assigns of the parties herein named. 81 If Guarantor shall be a corporation, the authorized officers muet Sign on behalf of the corporationi This Guarantee must be executed by the president or vice—president and the secretary, unless the by—laws or a resolution of the board of directore shall otherwise provide, in which event, the by—laws or a certified copy of the resolution, as the case may be, must be furnished. Also the appropriate corporate seal must be affixed. IN WITNESS WHEREOF, the undersigned has caused this Guaran~ tee to be executed as of the date set forth on page 1 of this Lease. GUARANTOR: Address: Initials: ‘ Date: 82 ...
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Real estate law LeaseGuarantee - EXERCISE NUMBER 15...

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