CONTINUING GUARANTY (Unlimited)
(For Consumer or Business Transactions)
Dated FEBRUARY 2, 1999
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GUARANTY. For value received, and to induce U.S. Bank National
Association of 000 Xxxx Xxxxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx ("Lender"), to
extend credit or to grant or continue other credit accommodations to Schonath
Family Partnership ("Debtor"), the undersigned jointly and severally guarantee
payment of the Obligations defined below when due or, to the extent not
prohibited by law, at the time any Debtor becomes the subject of bankruptcy or
other insolvency proceedings. "Obligations" means all loans, drafts, overdrafts,
checks, notes, and all other debts, obligations and liabilities of every kind
and description, whether of the same or of a different nature, arising out of
credit previously granted, credit contemporaneously granted or credit granted in
the future by Xxxxxx to any Debtor, to any Debtor and another, or to another
guaranteed or endorsed by any Debtor. Obligations include interest and charges
and the amount of payments made to Lender or another by or on behalf of any
Debtor which are recovered from Lender by a trustee, receiver, creditor or other
party pursuant to applicable federal or state law, and to the extent not
prohibited by law, all costs, expenses and attorneys' fees at any time paid or
incurred before and after judgment in endeavoring to collect all or part of any
of the above, or to realize upon this Guaranty, or any collateral securing any
of the above, including those incurred in successful defense or settlement of
any counterclaim brought by Debtor or the undersigned or incident to any action
or proceeding involving Debtor or the undersigned brought pursuant to the United
States Bankruptcy Code. Unless a lien would be prohibited by law or would render
a nontaxable account taxable, the undersigned grant to Lender a security
interest and lien in any deposit account any of the undersigned may at any time
have with Lender. Lender may, at any time after the occurrence of an event of
default and notice and opportunity to cure, if required by ss.425.105, Wis.
Stats., set-off any amount unpaid on the Obligations against any deposit
balances any of the undersigned may at any time have with Lender, or other money
now or hereafter owed any of the undersigned by Xxxxxx. This Guaranty is also
secured (to the extent not prohibited by law) by all existing and future
security agreements between Lender and any of the undersigned and by any
mortgage stating it secures guaranties of any of the undersigned. This Guaranty
is valid and enforceable against the undersigned even though any Obligation is
invalid or unenforceable against any Debtor.
WAIVER. To the extent not prohibited by law the undersigned expressly
waive notice of the acceptance of this Guaranty, the creation of any present or
future Obligation, default under any Obligation, proceedings to collect from any
Debtor or anyone else, all diligence of collection and presentment, demand,
notice and protest and any right to disclosures from Lender regarding the
financial condition of any Debtor or guarantor of the Obligations or the
enforceability of the Obligations. No claim, including a claim for
reimbursement, subrogation, contribution or indemnification which any of the
undersigned may, as a guarantor of the Obligations, have against a co-guarantor
of any of the Obligations or against any debtor shall be enforced nor any
payment accepted until the Obligations are paid in full and no payments to or
collections by Lender are subject to any right of recovery.
CONSENT. With respect to any of the Obligations, Lender may from time
to time before or after revocation of this Guaranty without notice to the
undersigned and without affecting the liability of the undersigned (a)
surrender, release, impair, sell or otherwise dispose of any security or
collateral for the Obligations, (b) release or agree not to sue any guarantor or
surety, (c) fail to perfect its security interest in or realize upon any
security or collateral, (d) fail to realize upon any of the Obligations or to
proceed against any Debtor or any guarantor or surety, (e) renew or extend the
time of payment, (f) increase or decrease the rate of interest or the amount of
the Obligations, (g) accept additional security or collateral, (h) determine the
allocation and application of payments and credits and accept partial payments,
(i) determine what, if anything, may at any time be done with reference to any
security or collateral, and (j) settle or compromise the amount due or owing or
claimed to be due or owing from any Debtor, guarantor or surety, which
settlement or compromise shall not affect the undersigned's liability for the
full amount of the unpaid Obligations. The undersigned expressly consent to and
waive notice of all of the above. To the extent not prohibited by law, the
undersigned consent that venue for any legal proceeding relating to the
collection of this Guaranty shall be, at Lender's option, the county in which
Lender has its principal office in this state, the county in which any of the
undersigned resides or the county in which this Guaranty was executed by the
undersigned.
PERSONS BOUND. This Guaranty benefits Xxxxxx, its successors and
assigns, and binds the undersigned, their respective heirs, personal
representatives, successors and assigns.
ENTIRE AGREEMENT. This Guaranty is intended by the undersigned and
Lender as a final expression of this Guaranty and as a complete and exclusive
statement of its terms, there being no conditions to the full effectiveness of
this Guaranty. This Guaranty may not be supplemented or modified except in
writing. This Guaranty includes additional provisions on the reverse side.
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NOTICE TO GUARANTOR
You are being asked to guarantee the past, present and future Obligations of
Debtor. If Debtor does not pay, you will have to. You may also have to pay
collection costs. Xxxxxx can collect the Obligations from you without first
trying to collect from Debtor or another guarantor.
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X /s/ Xxxxxx Xxxxxxxx (Seal) X (SEAL)
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Xxxxxx Xxxxxxxx
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200 Monastery Hill Drive
Oconomowoc, WI 53066
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(Address) (Address)
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For Wisconsin Married Residents Only: Each guarantor who signs above
represents that this obligation is incurred in the interest of his or her
marriage or family.
X /s/ Xxxxxx Xxxxxxxx X
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Xxxxxx X. Xxxxxxxx
FOR LENDER CLERICAL USE ONLY
If any transaction guaranteed is a Copies of documents [ ] Documents
consumer transaction or subject to or WBA 156 Delivered; or
the Federal Reserve Regulation AA may be required...... [ ] 156 Delivered
(" Reg. AA"), each guarantor should
also sign a Consumer WBA 156
"Explanation of Personal Obligation."
Alternatively, if the guaranty is not
subject to Reg. AA, the guarantor may
receive copies of documents which
evidence the customer's obligation to pay.
Acknowledgement of signature on reverse side.
