Loan No. 472939
Borrower: Seven J Stock Farm, Inc.
Assn: Capital Farm Credit,
FLCA
Branch: Crockett
AGREEMENT OF GUARANTY
THE STATE OF TEXAS )
) KNOW ALL MEN BY THESE PRESENTS
COUNTY OF HOUSTON )
For the sum of ONE DOLLAR and other valuable consideration, receipt of which is
hereby acknowledged. I, Xxxx X. Xxxxxx, hereinafter called "Guarantor," agree to
pay to the Capital Farm Credit, FLCA, hereinafter called "Lender," its
successors and assigns, at its office in the City of Xxxxx, Brazos County,
Texas, any amount, payment or installment due and payable, and which has become
delinquent and has not been paid by Seven J Stock Farm, Inc., hereinafter called
"Borrower," according to any of the terms of the following described note:
One certain promissory note in the principal sum of Six Hundred Ten Thousand and
No/100 ($610,000.00) dated 10-28, 2002, executed by Borrower to the order of
Lender as therein specified.
Said note being secured by and described in a deed of trust/mortgage executed by
Borrower to Xxx X. Xxxxxxx, Trustee, for the benefit of Lender, which deed of
trust/mortgage will be filed for record in the Deed of Trust/Mortgage Records,
Houston County, Texas.
All terms of payment shown in the above described note, and renewal and
extension thereof, and deed of trust/mortgage are hereby incorporated by
reference in this guaranty, Guarantor waives any requirement that action be
taken against the makers of the above described promissory note before enforcing
this guaranty. Guarantor agrees and consents that payment of such note may be
extended from time to time. This Guaranty shall be a continuing guaranty, and
the liability of Guarantor hereunder shall in no way be affected, modified or
diminished by reason of any substitution or release or partial release of
security or of any maker on said note, whether or not notice thereof is given to
Guarantor.
If the Guarantor becomes liable for any indebtedness owing by the Borrower to
the Lender, its successor or assigns, by endorsement, or otherwise than under
this guaranty, such liability shall not be in any manner impaired or affected
hereby, but shall have all and the same force and effect it would have bad, had
this guaranty not existed; and if such indebtedness would have been included in
and covered by this guaranty had there been no such endorsement or other
liability, then this guaranty shall cover and include such indebtedness and be
and remain in force and effect as to such indebtedness.
Whenever any indebtedness, or any renewal thereof guaranteed hereunder, shall
become due and remain unpaid, the Guarantor, jointly and severally, will, on
demand (without further notice of dishonor, and without any notice having been
given to the Guarantor previous to such demand, of the acceptance by the Lender
of this guaranty, and without any notice having been given to the Guarantor
previous to such demand, of the creating or incurring of such indebtedness), pay
the amount due thereon to the Lender, its successors or assigns, at Bryan,
Brazos County, Texas, and it shall not be necessary for the Lender, in order to
enforce such payment by the Guarantor, to first institute a suit, or exhaust its
remedies against Borrower, or others liable on such indebtedness, or to enforce
its rights against any security which shall have been given the Lender to secure
such indebtedness.
Notice to the Guarantor of the acceptance of this guaranty, and of the making,
renewing or assigning of any indebtedness hereby guaranteed, is hereby expressly
waived by the Guarantor.
The Lender, its successors and assigns, shall not be liable for failure to use
diligence in the collection of any indebtedness hereby guaranteed, or in
preserving the liability of any person liable on said indebtedness, and the
Guarantor hereby waives presentment for payment, notice of nonpayment, protest,
and notice thereof, and diligence in bringing suit against any person, natural
or artificial, liable for any indebtedness hereby guaranteed.
This agreement is for the benefit of the Lender, and for such other person or
persons, natural or artificial, as may from time to time become or be the
holders of any indebtedness hereby guaranteed; and this contract of guaranty
shall be transferable and negotiable with the same force and effect and to the
same extent as such indebtedness may be transferable; it being understood that
upon the assignment or transfer by the Lender of any indebtedness hereby
guaranteed, the legal holder of such indebtedness shall have all the rights
granted to the Lender under this guaranty.
In the event the debtor be an individual and such individual be not liable
because of disability, insanity or coverture, such facts shall in no manner
affect the liability of the guarantor hereunder, but the Guarantor shall be and
remain liable herein to the same extent as the Guarantor would have been liable
if the indebtedness of the debtor had been enforceable against such debtor.
EXECUTED this 25th day of October, A.D., 2002
/s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxxx
THE STATE OF TX )
)
COUNTY OF HOUSTON )
This instrument was acknowledged by me on the 25th day of October, ______, by
Xxxx X. Xxxxxx.
[SEAL] /s/ Xxxxxx X. Xxxxxx
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Notary Public, State of Texas
THE STATE OF _______________________ )
)
COUNTY OF __________________________ )
This instrument was acknowledged by me on the _________ day of ________________,
______, by .
My Commission Expires:
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-------------------------- Notary Public, State of Texas
THE STATE OF _______________________ )
)
COUNTY OF __________________________ )
This instrument was acknowledged by me on the _______ day of __________________,
by
My Commission Expires:
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------------------------------------ Notary Public, State of Texas
