Personal Guarantee Agreement Form (Page 2 of 2) in pdf

any foreclosure or other sale for its own account and may apply the amount bid against the

amount due on the Obligations.

4. EXPENSES OF ENFORCEMENT. If this Guaranty is given to an attorney for enforcement,

Guarantor will reimburse ACSC for all expenses incurred in connection with enforcement

including without limitation reasonable attorneys’ fees.

5. ALTERATION OF OBLIGATIONS. No provision of this Guaranty shall be construed to

amend the Obligations or to relieve Shareholder of any obligations thereunder.

6. OBLIGATION OF GUARANTOR. If more than one person or party executes a Guaranty as

Guarantor of Shareholder’s Obligations, this Guaranty and the related guaranties by other parties

shall bind all such persons and parties jointly and severally. Guarantor acknowledges that

Guarantor has adequate means to obtain from the Shareholder on a continuing basis, information

on the financial condition of the Shareholder and that Guarantor is not relying on ACSC to

provide this information, now or in the future. The liability of Guarantor shall be reinstated to

the extent the ACSC is required at any time to return any amount then previously received in

payment of the Obligations for any reason including without limitation amounts recovered

pursuant to avoidance claims in bankruptcy proceedings of the Shareholder.

7. MISCELLANEOUS. All rights and remedies of ACSC under this Guaranty are cumulative and

are in addition to other rights and remedies ACSC may have. This writing is a complete and

exclusive statement of the guaranty agreement between the parties. No course of dealing, course

of performance, trade usage, or parol evidence shall be used to modify its terms. This Guaranty

shall inure to the benefit of and may be enforced by ACSC and any subsequent holder of the

Obligations and shall be binding upon and enforceable against Guarantor and the legal

representatives, heirs, successors and assigns of Guarantor. This Guaranty shall be governed by

the laws of the State of Minnesota, and Guarantor consents to the jurisdiction of the Courts of the

State of Minnesota to adjudicate any disputes arising hereunder. .

State of ______________)

Dated: _____________________________

County of ____________)

This Guaranty was acknowledged before me

GUARANTOR:

This ____ day of _____________, 20___, by

___________________________________.

WITNESS my hand and official seal affixed ___________________________________

hereto the day and year first above written.

[Signature]

Notary Public for the State of

Print name

Commission Expires:

Address

#51077969v3

Rev. November, 2014

Personal Guarantee Agreement Form Page 2