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(A) to make any chanqe, amendment, extension or modification
whatsoever of any term or condition of the Agreement and the
Bonds, except those prohibited by the Agreement and the
Resolution under which the Bonds are issued; and (B) to settle,
compromise, release, surrender, modifiy, or impair, and to
enforce and exercise, or fail or refuse to enforce or exercise,
any claims, rights, or remedies of any kind or nature against
the Company, or any other guarantor of the Company's debts or
transactions, or any collateral security held by the Trustee or
Issuer.
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Section 5. RIGHTS UPON DEFAULT. If the Company shall }
default in the payment of any purchase price installment or '
shall otherwise be in default under any term or condition ~
of the Agreement, the Issuer may make demand upon the Guarantor
for payment of all sums becoming due by reason of such default
or any acceleration resulting therefrom, or from any election
made by the Issuer following such default. If payment in full
of all such debts is not made within one week after such
demand, then the Issuer shall have the right to enforce against
the Guarantor all rights and remedies provided in the Agreement. ~
Section b. RIGHTS AS AGAII~ST OTHERS. The Issuer
shall be under no obligation to proceed against the Company,
or against any other guarantor, or against any collateral
security given by the Company or any other party which the ~
Issuer may hold, before proceeding against the Guarantor
hereunder,
Section 7. CHARACTER OF OBLIGATION. This Guaranty
shall be construed as an absolute, continuing, unconditional, ;
and unlimited guaranty. The term of this Guaranty shall commence ~
on the date hereof and shall continue until the Company has
made all p~yments due under and has fulfilled all condit'ions ~
of the Agreement, and until~the Mortgage is satisfied and
the Agreement discharged. Otherwise this Guaranty shall
continuonsly remain in full force and effect,
Section 8. WAIVER BY GUARANTOR. The Guarantor waives
notice of the-acceptance of this Guaranty by the Issuer; ~
notice of presentment, demand for payment, nonpayment and
protest of any obligation of the Company under the Agreement, ~
or of any obligation of any other party which the Issuer may
hold as collateral security for the Company's debts or trans- ~
actions under the Agreement; notice af any default by the '
Company other than notice as_provided by the Agreement; and
notice of ahy payment to the~Issuer of any debt of the Company
or of any debt which the Issuer may hold as collateral security
~ for the Company's debts or transactions. The Guarantor waives
all defenses, offsets or eounterclaims which the Guarantor or
the Company may at any time have to any debt or transaction
between the Issuer and the Company under the Agreement
~ referred to herein. ~
Section 9. BENEFIT. This Agreement shall be binding
upon and inure to the benefit of the stockholders, directors,
members, administrators, legal representatives, surviving,
resulting or successor corporations, bodies politic and assigns
of the Issuer, the Company and the Guarantor. The Issuer shall ~
have the right to assign and transfer this Guaranty, and any
security deposited hereunder, in whole or in part, to any
assignee of any transaction or debt or any portion thereof.
The Issuer, the Issuer's governing body or members thereof,
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