Guaranty of Payment of Rent under Lease
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 Lessor, with respect to Lessor’s Agreement to Lease the
premises described in Exhibit A attached hereto and made a part hereof to (Name of Obligor)
hereinafter called Lessee, of (street address, city, state, zip code).
Whereas, Lessor has leased premises at (street address, city, state, zip code), to
Lessee, but the granting of the Lease to Lessor was and is conditioned on Guarantor's giving
security for payment of rent under the Lease in the form of a Personal Guaranty.
Now, therefore, for and in consideration of Lessor's granting the above-described Lease
to Lessor, and in further consideration of Lessor's payment of $____________ to Guarantor,
receipt of which is acknowledged, Guarantor agrees as follows:
1. Statement of Guaranty
Guarantor hereby guarantees payment of rent under the Lease (a copy of which is
attached hereto as Exhibit B) pursuant to the terms of the Lease. If Lessee defaults in the
payment of any installment of rent, Guarantor shall pay the amount of such installment within
(number) days after receipt of notice of default and demand for payment. Guarantor's liability
under this Guaranty shall not be affected by reason of any extension of time for payment of any
installment granted by Lessor to Lessee.
This Guaranty shall not be revoked during the initial (number)-year term of the Lease.
Subsequently, if the Lease is renewed on the same terms, this Guaranty shall remain in force
until receipt by Lessor of written notice of revocation from Guarantor, or until terminated
pursuant to Section 3 of this Guaranty. Renewal of the Lease on different terms shall, at the
option of Guarantor, operate to terminate this Guaranty as of the end of the initial (number)-year
3. Limitation of Liability
The maximum amount recoverable by Lessor from guarantor pursuant to this Guaranty
is $____________, which amount is equal to the total rent due during the initial (number)-year
term of the Lease. If the aggregate of payments made by Guarantor under this Guaranty
reaches the above-mentioned amount, this Guaranty shall terminate immediately.
4. Waiver of Notice of Acceptance
Notice of acceptance of this Guaranty is waived. Guarantor has executed this Guaranty
at (identify place of execution) the day and year first above written.
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 this Agreement is held to be invalid, the
parties agree that the remaining provisions shall be deemed to be in full force and effect as if
they had been executed by both parties subsequent to the expungement of the invalid provision.
6. No Waiver
The failure of either party to this Agreement to insist upon the performance of any of the