GUARANTY (Ronald P. Scott)
(Xxxxxx
X. Xxxxx)
CREDIT CASH NJ, LLC
(“Lender”) has entered
into a Credit Card Advance Agreement (“Loan Agreement”) dated on or
about November 4, 2010 with ONE UP INNOVATIONS, INC. and FOAM LABS, INC.
(collectively, the “Merchant”) and in
consideration of One ($1.00) Dollar and other good and valuable consideration,
the receipt and sufficiency of which are hereby duly acknowledged, the
undersigned jointly and severally unconditionally guaranty to Lender, its
successors and assigns, Merchant’s full and prompt payment, performance and
discharge of each and every obligation of Merchant under said Loan Agreement and
under all instruments given or executed by Merchant in connection therewith, and
the full and prompt payment of all other obligations of Merchant to Lender,
wherever and however arising, direct or indirect, absolute or contingent, all
whether presently existing or hereafter arising, including, without limitation,
all costs of collection, including attorney’s fees. The liability of
the undersigned under this Guaranty shall be direct, immediate, absolute,
continuing, unconditional and unlimited and not conditional or contingent upon
the pursuit by the Lender of whatever remedies it may have against the Merchant
or the Merchant’s successors, executors, administrators or assigns, or the
collateral or liens it may possess, and this Guaranty shall be a continuing
guaranty of the payment of any and all obligations to Lender either made,
endorsed or contracted by the Merchant, or any successor of the Merchant and of
all extensions or renewals thereof in whole or in part.
Notice of acceptance hereof, of default
by Merchant or any other parties, of presentment, protest and demand, and of all
other matters to which the undersigned might otherwise be entitled, is hereby
waived by the undersigned. Lender may grant extensions, modifications
and renewals to, and make compromises, amendments, settlements, compositions,
releases, discharges and adjustments with, Merchant and other parties, and with
respect to any collateral securing Merchant’s obligations to Lender or
collateral securing this Guaranty without notice to any of the undersigned and
without affecting the undersigned’s liability hereunder. The
undersigned’s obligations hereunder shall be binding upon their respective
administrators, executors, personal representatives, successors and
assigns.
The undersigned guarantor agrees that,
whenever an attorney is used to obtain payment under or otherwise enforce this
guaranty or to enforce, declare or adjudicate any rights or obligations under
this guaranty or with respect to collateral, whether by legal proceeding or by
any other means whatsoever, Credit Cash's reasonable attorney's fee plus costs
and expenses shall be payable by each Guarantor against whom this guaranty or
any obligation or right hereunder is sought to be enforced, declared or
adjudicated. Guarantor, if more than one, shall be jointly and
severally bound and liable hereunder and if any of the undersigned is a
partnership, also the members thereof individually.
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This Guaranty shall be governed by and
construed and interpreted in accordance with the laws of the State of New Jersey
and all actions and proceedings arising out of or in connection herewith shall
be litigated in the federal or state courts of such State. The
undersigned hereby submit to the personal jurisdiction of such
courts.
EACH OF
THE UNDERSIGNED WAIVES THE RIGHT TO TRIAL BY JURY IN ALL ACTIONS BROUGHT BY OR
AGAINST LENDER.
IN WITNESS WHEREOF, the
undersigned Guarantor has hereunto set his hand this 3rd day of November
2010.
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/s/ Xxxxxx X. Xxxxx
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Xxxxxx
X. Xxxxx
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Xxxxxx,
XX 00000
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Social
Security No.: On File
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STATE
OF GEORGIA
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)
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)ss.:
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COUNTY
OF
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)
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On this
3rd day of November 2010 before me personally appeared Xxxxxx X. Xxxxx, personally
known to me or proved to me on the basis of satisfactory evidence to be the
individual(s) whose name(s) is (are) subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their
capacity(ies), and that by his/her their signature(s) on the instrument, the
individual(s), or the person upon behalf of which the individual(s) acted,
executed the instrument.
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/s/ Xxxxxx Xxxxxxx
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NOTARY
PUBLIC
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