Continuing Guaranty of Business Debt by pellcity27

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									                  Continuing Limited Guaranty of a Business Debt

To:    (Name of Creditor)
       (Address of Creditor)

        Guaranty made this the (date), by (Name of Guarantor), of (street address, city,
state, zip code), hereinafter called Guarantor, in favor of (Name of Obligee) of (street
address, city, state, zip code), hereinafter called Debtor, with respect to credit extended
and to be extended to Debtor by (Name of Obligor), hereinafter called the Creditor, of
(street address, city, state, zip code).

       Whereas, Debtor is currently indebted to Creditor for $____________ and
desires to obtain a further line of credit from Creditor for use in conducting his business
of (describe business); and

        Whereas, Creditor requires security for payment of the current indebtedness and
all indebtedness incurred in the future by Debtor; and

     Whereas, Guarantor is willing to furnish such security in the form of a personal
Guaranty of payment of the current and future indebtedness;

     Now, therefore, for and in consideration of the mutual covenants contained in this
Agreement, and other good and valuable consideration, Guarantor agrees as follows:

1.       Statement of Guaranty
         Guarantor hereby guarantees prompt repayment when due of all amounts
advanced in the past or to be advanced in the future by Creditor to Debtor for use in the
conduct of the Debtor's business described above and located at (street address, city,
state, zip code). If Debtor defaults in the payment of any such indebtedness, Guarantor
will pay to Creditor or its order on demand, in any coin or currency that is legal tender in
the United States at the time of payment, the amount due, subject to the limitation of
liability set forth in Section 3 of this Guaranty. Guarantor shall also pay to Creditor on
demand reasonable attorney fees and all costs and other expenses incurred by Creditor
in collecting or compromising any indebtedness of Debtor guaranteed under this
Guaranty or in enforcing this Guaranty against Guarantor.

2.      Duration and Scope of Guaranty
        This is a continuing Guaranty. Notice of acceptance is waived. This Guaranty
shall remain in full force and effect until Guarantor delivers to Creditor written notice
revoking it as to indebtedness incurred subsequent to such delivery. Such revocation
shall not affect any of Guarantor's obligations under this Guaranty with respect to
indebtedness previously incurred.

3    Limitation of Liability.
     The maximum liability of Guarantor under this Agreement shall be limited to
$____________.
4.     Rights of Creditors
       A.     Without further authorization from or notice to Guarantor, Creditor may
       grant credit to Debtor from time to time. With or without notice to Guarantor,
       Creditor may alter, compromise, accelerate, extend, or change the time or
       manner of payment of any indebtedness, increase or reduce the rate of interest
       on the same, or add or release any one or more other Guarantors. No exercise
       or non-exercise by Creditor of any right given to him by this Guaranty, no dealing
       by Creditor with Debtor or any other Guarantor, and no change, impairment, or
       suspension of any right or remedy of Creditor shall in any way affect any of
       Guarantor's obligations under this Guaranty or give Guarantor any recourse
       against Creditor.

       B.      If legal action is taken to enforce this Guaranty or any provision of it, such
       action may be maintained alone, or joined with any action or other proceeding
       against Debtor or any other Guarantor of Debtor's obligations to Creditor. Prior
       action or suit against Debtor, whether alone or jointly with other Guarantors, shall
       not be a prerequisite to Creditor's right to proceed under this Guaranty in case of
       Debtor's default. The rights of Creditor are cumulative and shall not be exhausted
       by its exercise of any of its rights under this
								
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