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NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 14 / 60

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FORM 1

GUARANTY

IN CONSIDERATION OF, and as an inducement for the granting, execution and delivery of that

certain Lease, dated (hereinafter called "Lease") between _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ , 1 9 _ _ _ _ ________________________, a ________________________("Landlord"), and ___________________, a _________________________ ("Tenant"), and in further consideration of the sum of One Dollar ($1.00) and other good and valuable consideration paid by the Landlord to the undersigned, the undersigned (hereinafter jointly called the "Guarantor"), hereby jointly and severally personally guarantee to Landlord, its successors and assigns, the full, prompt and timely payment of Rent, as defined in the Lease, and any and all other sums and charges payable by Tenant, its successors and assigns, under the Lease and the full, prompt and timely performance and observance of all of the covenants, terms, conditions and agreements therein provided to be performed and observed by Tenant, its successors and assigns. Guarantor hereby covenants and agrees to and with Landlord, its successors and assigns that if default shall at any time be made by Tenant, its successors and assigns, in the payment of any such sums or in the performance of any of the terms, covenants, provisions or conditions contained in the Lease, Guarantor shall forthwith pay such sums to Landlord, its successors and assigns, and shall forthwith faithfully perform and fulfill all of such terms, covenants, conditions and provisions, and will forthwith pay to Landlord all damages that may arise in consequence of any default by the Tenant, its successors and assigns under said Lease, including, without limitation, all reasonable attorneys' fees and costs incurred by Landlord or caused by any such default and/or by the enforcement of this Guaranty.

This Guaranty is an absolute and unconditional personal Guaranty of payment and of performance. It shall be enforceable against Guarantor, its heirs, successors and assigns, without the necessity for any suit or proceedings on Landlord's part of any kind or nature whatsoever against Tenant, its successors and assigns, and without the necessity of any notice of nonpayment, nonperformance or non-observance or of any notice of acceptance of this Guaranty, or of any other notice or demand to which the Guarantor might otherwise be entitled, all of which Guarantor hereby expressly waives. Guarantor hereby expressly agrees that the validity of this Guaranty and the obligations of Guarantor hereunder shall in no way be terminated, affected or impaired by reason of the assertion or the failure to assert by Landlord against the Tenant, or Tenant's successors and assigns, of any of the rights or remedies reserved to Landlord pursuant to the provisions of the Lease.

The 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 assignment, renewal, modification or extension of the Lease or by reason of any modification or waiver of or change in any of the terms, covenants, conditions or provisions of the Lease, or by reason of any extension of time that may be granted by Landlord to Tenant, its successors or assigns, or by reason of any dealings or transactions or matter or things occurring between Landlord and Tenant, its successors or assigns, whether or not

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