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Guaranty of Performance of Contract
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					                          Guaranty of Performance of Contract

       Guaranty made (date), by (Name of Guarantor), of (street address, city, state, zip code),
hereinafter called Guarantor, to (Name of Obligee), hereinafter called Obligee, of (street
address, city, state, zip code).

        Whereas, Obligee is prepared to execute a Contract with (Name), doing business
as (business name) at (street address, city, state, zip code), said party being hereinafter
referred to as the Obligor, for (purpose of Contract). A copy of the proposed Contract is
attached as Exhibit A and made a part hereof by reference; and

      Whereas, Obligee will execute the Contract only if performance of it will be
guaranteed by a responsible third party; and

       Whereas, Guarantor is willing to guarantee performance of the Contract under
the terms set forth below.

       Now, therefore, for and in consideration of the mutual covenants contained in this
agreement, and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows:

1.      Statement of Guaranty
        Guarantor guarantees prompt and satisfactory performance of the attached
Contract in accordance with all its terms and conditions. If Obligor defaults in
performance of his obligations under the Contract according to its terms and conditions,
Guarantor shall pay to Obligee all damages, costs, and expenses that Obligee is
entitled to recover from Obligor by reason of such default.

2.     Duration
       This Guaranty shall continue in force until all obligations of Obligor under the
attached Contract have been satisfied or until Obligor's liability to Obligee under the
Contract has been completely discharged, whichever first occurs. Guarantor shall not
be discharged from liability under this Guaranty as long as any claim by Obligee against
Obligor remains outstanding.

3.     Limitation of Liability
       The total contract price set forth in the attached Contract is $____________. The
total amount recoverable by Obligee under this Guaranty is limited to $____________.

4.     Modification of Guarantee Contract
       Written consent of Guarantor shall be required prior to any modification of the
attached Contract that would increase the obligations of Guarantor in any way or that
would render prompt and satisfactory performance by Obligee more difficult. An
extension of time for performance by Obligee (shall or shall not) be construed as a
modification that would increase the obligations of Guarantor for purposes of this
Section.
5.      Notices
        Notice of acceptance is waived. Notice of default on the part of Obligor (is also or
is not) waived.

6.      Severability
        The invalidity of any portion of this Agreement will not and shall not be deemed to
affect the validity of any other provision. If any provision of thi
				
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Description: A guaranty is an undertaking on the part of one person, the guarantor, that is collateral to an obligation of another person, the obligor, and which binds the guarantor to performance of the obligation in the event of default by the obligor.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),