General Guaranty

This General Guaranty is between the holder of a promissory note and a guarantor who agrees to make payments on a promissory note according to the terms of a security agreement. This guaranty sets forth the names of the parties and that the guarantor will be responsible for the costs of collection of the note. It also sets forth that the note holder may demand payment under this guaranty before exhausting all rights and demands for payment. It is important that this type of guaranty agreement be set forth in writing. (continued ...)