In consideration of the extension of credit to the applicant named herein, the undersigned, jointly, severally and unconditionally guarantee and promise to pay all amounts now owing or which many hereinafter become owing by the applicant to Modern Concrete & Materials, LLC. This is a continuing guaranty and obligations arising hereunder shall not be affected by any change in terms of indebtedness, the extension of credit beyond amounts specified herein, a change in the term or time of payment, a change in the form of indebtedness, or the acceptance of security or collateral. Modern Concrete & Materials, LLC shall not be required to exhaust any remedies against applicant prior to exercising rights granted hereby.
The undersigned hereby waives (a) notice of acceptance of this guaranty and the extensions of credit by Modern Concrete & Materials, LLC to the applicant; (b) presentment and demand for paying of any indebtedness of the applicant; (c) protest and notice of dishonor or default to the undersigned with respect to any indebtedness of the applicant; (d) all other notices to which the undersigned might otherwise be entitled; (e) any demand for paying under the guaranty; (f) benefit of all exemptions and homestead laws; (g) all set-offs and counterclaims.
This is a guaranty of payment and not of collection and the undersigned further waives any right to require that any action be brought against the applicant of any other reason or to require that resort be had to any security.
The undersigned agrees that, with or without notice or demand, the undersigned shall reimburse Modern Concrete & Materials, LLC, to the extent that such reimbursement is not made by the applicant, for all expenses (including counsel fees) incurred by Modern Concrete & Materials, LLC in connection with any indebtedness of the applicant or the collection thereof, and will pay attorneys’ fees if this guaranty is placed with an attorney for enforcement or collection from the undersigned.
If any provision or part of any provision of this guaranty is in conflict with any applicable statute or rule of law then such provision, or part thereof, as the case may be, shall be deemed null and void to the extent that it may conflict therewith, but without invalidation the remaining provisions hereof or the remaining part of such.