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Guaranty Of A Lease Templates Free Download

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GUARANTY OF LEASE



This Guaranty of Lease (the Agreement) is made and effective [DATE],

BETWEEN:  [YOUR COMPANY NAME] (the "Landlord"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

      [YOUR COMPLETE ADDRESS]


AND:  [GUARANTOR NAME] (the "Guarantor"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

      [COMPLETE ADDRESS]

RECITALS

Reference is made to that certain Lease herewith, dated [DATE], by and between Landlord and Tenant with respect to certain premises;

As a material inducement to, and in consideration of, Landlord entering into the Lease, Guarantor does hereby agree as follows:


GUARANTY

Guarantor do hereby unconditionally guarantee, as a primary obligor and not as a surety, and promise to perform and be liable for, the payment of rent by Tenant for [NUMBER] months starting [DATE] through [DATE].


MODIFICATIONS AND AMENDMENTS

The Lease may be amended or modified, and further agreements may be entered into between Tenant and Landlord, without further authorization from or notice to Guarantor and no such action shall terminate, release, reduce, diminish or in any way affect any of the obligations of the Guarantor hereunder or give Guarantor recourse or defense against Landlord.

Landlord may alter, compromise, accelerate, extend or change the time or manner for the performance or payment of any obligation(s) of Tenant under the Lease, waive any default by Tenant, fail to assert any rights against Tenant, grant to Tenant any other indulgence or concession with respect to all or any part of any of the obligations of Tenant under the Lease, release, substitute or add Guarantors and may generally deal with Tenant, or any indebtedness of Tenant to Landlord, as Landlord sees fit, and no such action and no change, impairment or suspension of any right or remedy of Landlord shall terminate, release, reduce, diminish or in any way affect any of the obligations of Guarantor hereunder or give Guarantor any recourse or defense against Landlord.


LIABILITIES

The amount of liability of Guarantor and all rights, power and remedies of Landlord hereunder and under any other agreement now or at any time hereafter in force between Landlord and Guarantor, including any other guaranty executed by Guarantor relating to any indebtedness of Tenant to Landlord, shall be cumulative and not alternative and shall be deemed to include all rights, powers and remedies given to Landlord by law. This Guaranty is in addition to and exclusive of the guaranty of any other guarantor of any indebtedness of Tenant to Landlord.


OBLIGATIONS OF GUARANTOR

The obligations of Guarantor hereunder are independent of the Lease Obligation. In the event of any default hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not Tenant is joined therein or a separate action or actions is brought against Tenant. Landlord may maintain successive actions for other defaults. Landlord's rights hereunder shall not be exhausted by its exercise of any of its other rights or remedies or by any such action or by any number of successive actions until and unless all of the Lease Obligation hereby guaranteed has been fully performed and the period of time has expired during which any payment made by Tenant or Guarantor to Landlord may be determined to be a Preferential Payment.


SEVERABILITY

Each Guarantor shall be jointly and severally liable for, and agrees to pay to Landlord without demand, attorneys' fees in such amount as the Court determines is reasonable and all costs and other expenses which Landlord expends or incurs in enforcing, collecting or compromising the Lease Obligation hereby guaranteed or in enforcing or collecting upon this Guaranty against Guarantor the Lease Obligation hereby guaranteed whether or not suit is filed.


ENFORCEMENT

Should any one or more provisions of this Guaranty be determined to be illegal or unenforceable, all other provisions shall nevertheless be effective and enforceable.


NO WAIVER

No provision of this Guaranty or right of Landlord hereunder can be waived nor can Guarantor be released from his or her obligations hereunder except by a writing duly executed by Landlord.


REPRESENTATIONS AND WARRANTIES

Guarantor represents and warrants it is represented or has had full opportunity to be represented by independent legal counsel of its own choice in connection with this Guaranty, that it has personally reviewed this Guaranty, and that it fully has the requisite experience and sophistication to understand its terms and conditions and the consequences of the duties assumed and rights waived herein. In the event of an ambiguity in or dispute regarding the interpretation of this Instrument, the interpretation shall not be resolved by any rule providing for interpretation against the party who causes the uncertainty to exist or against the drafting party.


GOVERNING LAW

This Guaranty shall be governed by and construed in accordance with the laws of [STATE/PROVINCE]. Except as provided in any other written agreement now or at any time hereafter in force between Landlord and Guarantor, this Guaranty shall constitute the entire agreement of the Guarantor with Landlord with respect to the subject matter hereof and no representation, understanding, promise or condition concerning the subject matter hereof shall be binding upon Landlord unless expressed herein.


BINDING AGREEMENT

Guarantor agree to be bound by all provisions of the Lease.


DEFINITIONS

The term Landlord whenever hereinabove used refers to and means the Landlord in the foregoing Lease specifically named and also any assignee of said Landlord, whether by outright assignment or by assignment for security, and also any successor to the interest of said Landlord or of any assignee of such Lease or any part thereof, whether by assignment or otherwise. The term Tenant whenever hereinabove used refers to and means the Tenant in the foregoing Lease specifically named and also any assignee of said Lease and also any successor to the interests of said Tenant or assignee of such Lease or any part thereof, whether by assignment or otherwise.


IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.



LANDLORD            GUARANTOR



                          
Authorized Signature          Authorized Signature

                          
Print Name and Title          Print Name and Title


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