Agenda - Council - 08/08/2017 - Laserfiche WebLink

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remaining after foreclosure of any security interest securing Indebtedness, whether or not the liability of Borrower or any other obligor for such deficiency is discharged under statute or judicial decision. The liability of Guarantor shall not be affected or impaired by any voluntary or involuntary liquidation, dissolution, sale, or other disposition of all or substantially all the assets, marshaling of assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition, or readjustment of, or other similar event or proceeding affecting Borrower or any other guarantor or obligor, or any of their respective assets. Guarantor will not assert against Lender any claim, defense, or setoff available to Guarantor against Borrower or any other guarantor or obligor. 8. The Guaranty shall be effective whether or not accepted in writing by Lender and Guarantor waives notice of the acceptance of this Guaranty by Lender. Guarantor waives presentment, demand for payment, notice of dishonor or nonpayment, and protest of any instrument evidencing Indebtedness. Lender shall not be required first to resort for payment of the Indebtedness to Borrower or other persons, or their properties, or first to enforce, realize upon or exhaust any collateral security for Indebtedness, before enforcing this Guaranty. 9. This Guaranty shall be enforceable against each person signing this Guaranty, even if only one person signs and regardless of any failure of other persons to sign this Guaranty or to otherwise guaranty the Indebtedness. All agreements and promises shall be construed to be, and are declared to be, joint and several in every particular regarding the Guarantor and any other guarantors of the Indebtedness, and all such agreements and promises shall be fully binding upon and enforceable against any or all such guarantors. 10. Guarantor will pay or reimburse Lender for all costs and expenses (including, but not limited to, reasonable attorneys' fees and legal expenses) incurred by Lender for the collection of any Indebtedness or the enforcement of this Guaranty. 11. Guarantor acknowledges that the right to trial by jury is a constitutional one, but that it may be waived and that the time and expense required for trial by a jury may exceed the time and expense required for trial without a jury. Guarantor, after consulting (or having had the opportunity to consult) with counsel of guarantor's choice, knowingly and voluntarily, and for the mutual benefit of lender and guarantor, waives any right to trial by jury in the event of litigation regarding the performance or enforcement of, or in any way related to, this guaranty, the note, the loan agreement, the mortgage, and any related agreements, or obligations thereunder. Guarantor has read all of this guaranty and understands all of the provisions of this guaranty. Guarantor also agrees that compliance by lender with the express provisions of this guaranty shall constitute good faith and shall be considered reasonable for all purposes. 12. Guarantor agrees that this Guaranty shall apply to all of Guarantor's assets regardless of whether Guarantor has transferred said assets into a trust or other entity prior to or after the execution of this Guaranty.