, (Debtor), is or may be indebted to Supreme Oil Co., (Creditor).
NOW THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned (Guarantor) hereby guarantees to Creditor the prompt payment at maturity, and at all times thereafter, of the Guaranteed Indebtedness (hereafter defined), this guaranty being upon the following terms and conditions:
The term “Guaranteed Indebtedness,” as used herein, includes (a) all indebtedness of every kind and character, without limit as to amount, whether now existing or hereinafter arising, of Debtor to Creditor, regardless of whether evidenced by open account statements, notes, drafts, acceptances, discounts, judgement, verdict, award, or dismissal of a lawsuit, complaint, or cross-complaint in creditors favor, and whether such indebtedness be fixed, contingent, joint, several, or joint and several; (b) all indebtedness of every kind and character arising out of any dispute between Creditor and Debtor, whether evidenced by admission by the Debtor, or by judgement, verdict or award in Creditor’s favor, or by dismissal of a lawsuit, legal proceeding, complaint or cross-complaint in Creditor’s favor; (c) any and all costs, attorney’s fees, and expenses suffered by Creditor by reason of Debtor’s default in payment of any of the foregoing indebtedness; (d) interest on any of the indebtedness described in (a) or (b); and (e) any renewal or extension of the indebtedness, costs, or expenses described in (a) through (d) preceding, or any part thereof.
This instrument shall be an absolute and continuing guaranty, and the circumstances that at any time or from time to time the Guaranteed Indebtedness may be paid in full shall not affect the obligation of the Guarantor with respect to indebtedness of Debtor to Creditor thereafter incurred.
If Guarantor becomes liable for any indebtedness owing by Debtor to Creditor, by endorsement or otherwise, other than under this guaranty, such liability shall not be in any manner impaired or affected hereby, and the rights of Creditor hereunder shall be cumulative of any and all other rights that Creditor may ever have against Guarantor. The exercise by Creditor of any right or remedy hereunder or under any other instrument, or at law or in equity, shall not preclude the concurrent or subsequent exercise of any other right or remedy.
In the event of default by Debtor in payment of the Guaranteed Indebtedness, or any part thereof, when such indebtedness becomes due, either by its terms or as the result of the exercise of any power to accelerate, Guarantor shall, on demand and without further notice of dishonor, without any notice having been given to Guarantor previous such demand of the acceptance by Creditor of this Guaranty and without any notice having been given to Guarantor previous to such demand of the creating or incurring of such indebtedness, pay the amount due thereon to Creditor, and it shall not be necessary for Creditor, in order to enforce such payment by Guarantor, first to institute suit or exhaust its remedies against Debtor or others liable on such indebtedness, or to enforce its or his rights against any security which shall ever have been given to secure such indebtedness.
Guarantor hereby agrees that its or his obligations under the terms of this guaranty shall not be released, diminished, impaired, reduced, or affected by the occurrence of any one or more of the following events: (a) the taking or accepting of any other security or guaranty for any or all of the Guaranteed Indebtedness; (b) any release, surrender, exchange, subordination, or loss of any security at any time existing in connection with any or all of the Guaranteed Indebtedness; (c) any partial release of the liability of Guarantor hereunder, or if there is more than one person and/or entity signing this guaranty, the release of any one or more of them, hereunder; (d) the death, insolvency, bankruptcy, disability, or lack of corporate power of Debtor, any of the undersigned, or any party at any time liable for the payment of any or all of the Guaranteed Indebtedness, whether now existing or occurring; or (e) any payment by Debtor to Creditor is held to constitute a preference under the bankruptcy laws or if for any other reason Creditor is required to refund such payment or pay the amount thereof to someone else.
This Guaranty is for the benefit of Creditor and Creditor’s heirs, personal representatives, successors, and assigns, and in the event of an assignment to the Guaranteed Indebtedness, or any part thereof, the rights and benefits hereunder to the extent applicable to the indebtedness so assigned, may be transferred with such indebtedness. This guaranty is binding not only on Guarantor, but on Guarantor’s heirs, personal representatives, successors, and assigns, and if this guaranty is signed by more than one person and/or entity, then all of the obligations of Guarantor arising herein be jointly and severally binding on each of the undersigned, and their respective heirs, personal representatives, successors and assigns.
Guarantor represents that he or it is the owner of a direct or indirect interest in Debtor and that Guarantor will receive a direct and material benefit from the proceeds of any of the Guaranteed Indebtedness.
Guarantor agrees that if Debtor fails to timely notify Creditor in writing of any claims relating to the quality of products delivered by the Creditor to Debtor in accordance with the pertinent invoice, Guarantor shall be deemed to have waived any claims as to the quality of the products.
This guaranty is executed and delivered as an incident to open account transactions by and between Debtor and Creditor and is negotiated, consummated, and performable in Maricopa County, Arizona, San Diego County, California or other localities as elected by Creditor and shall be construed according to the laws of the State of Arizona or California at the election of Creditor.
The Undersigned authorizes Creditor and Creditor’s heirs, persona, representatives, successors and assigns to check its or their consumer credit and personal employment history.
SIGNATURES (Signature must be Owner, Partner or Officer)