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Home My WebLink About1189 ' 38A IAAN NO. GP 382, 750 10 O1 MIA ' 3MALL BUSlNES3 ADMINISTRATION (SBA) GUARANTY A~ri 1_ 12 --------N 19? 3_ : ; Carner Bank of Miami ~ear~~ la order to iadua ere a ter called "Lende~') to make s bas or bans. or reae~al or e:teosioo tbereol. to . ISBA or ot6er l.endia6 lnstitet'an) ~ BJE Industries,--Inc l6ercinafte~ ealled the "Debtor"1, tbe Uadersi6aed , herebr uncoaditionallr 6uataatees to Lender. its suecesson aad assi~s. tl~e due and puactwl psYment whea due, wlrcther br aeeelerataa or wbet~rise. in aceordanee r+it6 t6e terms tbueof. ot the principai ot and iaterest oo and sll other sums parable. or suted to be payabk. wit6 rapeet to t6e aote oI t6e ~ Debtor. ~oade br ~he Debtor to Lender, a~c~d ~a ~e~ n~~~w~ •mo~~ ot ~25, ~O~a_OQ+;~b ;p<<~~ or 8_3 ~4______ a~ per aenum. Sueh aote. and the iaterest thereon aad all ot6er sums payable Mith respect thercto are hereinafter rnllectirelr called "Liabilities" As securit~ tor the pedormance oI this Ruaraatr the UndersiRned henebr aart6=8a. P1~6~. auilpu. ~nasters aad delirers to Leoder certaia collateral lif aar). li.~ted in the x6edule on the rerene side hereof. The term "cotlatenl° u uxd 6enia s6a11 meaa snr tunds. ~CUaranlies; aRreemeots or ot6er propertp or ri~ehts or intetrsts o( anr nature ~+6atsoever. or t6e proceeds thereot. ~rhich may 6are beea. are. or hercafter may be. mor~gaged.. pledRed, assi~wed. traesterred o~ drlivered directlp or indirectlr by or oa behalf of t6e Debtor or t6e Uadersi~ed or any other partr to Lende~ or to tl~e IwWe~ oI the atoresaid note of the Debtor, or ~r6ic6 mar hare been. arc, or 6ereafter mar be held br aa~ pany u trustee or othernrise. as xcuritr. rrbet6er immediate or uuderlrins, tor tbe pedormance of this swranty or t6e paymeot ot the Liabilitis or any oE t6em or anr seeuritr thercfor. The Undeni6ned r+aives anr notice of 16e incurria~ br the Debtor at aor time o( anr of the Liabilities. and waives anr aad all preseatmea~ demand. i protest or notice o/ dishonor, nonpaymea~ or other default vnit6 respeet to anr o[ t6e Liabilities aad aar obliKation ot ~r ~~+r at anr time wmprised in the collateral. T6e Undenigned 6ereby ~rants to Lrader tull po~+er. in its uncontrolled discretioa aad ~rit6out notice to tbe uadeni~oed. but wbjeet to the provisions ot aar agrcement between the Uebtor or an~ other party and Lender at t6e time in Ioree, to deal in aar manner r+it6 ~6e Liabilities and the rnllateral. ~ncluding. buc ..i~houc l;mi~inR ehe generali~r of e6e toreaoina. ibe tolb..in6 poMen: ~ (a) To moditr or ot6err?ise c6an6e anr terms of all or ao7 part oi tLe Liabilities or t6e nte o( interest t6eteoa Ibut aot to iacrease t6e principal amount oi t6e note ot the Debtor to Lcader). w~rant ao~ e:tension or rrner?al t6ereof and aa~ other indnl6eoce wit6 respect t6ereto. and to eHect an~ rclease. compmmise or xttlem~at with respect t6ereto; (b) To eater into any sgreement oi (orbeannee Mit6 rapcct to aU or an~ part of t}?e Liabilities. or with ~cspect to all or an~ part of tLe oollateral. _ and co c6anse i6e ~crms of anr suc6 asmmenc; (c) To forbear from ullio6 for a~ditional collateral to secnre any oi t6e Liabilities or to xcure anr obligation oomprised in t6e collateral: (d) To conxnt to t6e substitution, e:change, or release of all or aa~ part oi t6e oollatenl, rnl~ether or not t6e rnllatenl. if anp. reeei~ed bp i.ender npon an~ sueh sub~titution, e:c6ange, or rclease a6all be of the same or of a di6ereat eLaneter os ~alue t6an the eol4teral snrreadered br Lender. ( e) In the e~ent ol t6e nonpaYment x6en due, ~+hether br acceleration or othenrise. of anr of t6e Liabilities, or in the ermt of de[ault in tLe pedorm- ance of anr obligation comprised in the rnllatenl, to rcaliu on t6e collatenl or an7 part t6ercof, u a whole or iu auch.parcels or subdi~ided ~ iuterata as Lender ma~ elcet. at any public or prirate sale or saks, for eash or on credit or for future delirerr. r+it6out demand. ad~ertixmwt or notiee of the time or place ot sale or anr adjoumment thereof (t6e Uadersigaed herebr wai~ias anr such demand, adrertisemtat and notiee w ~ - t6e e:twt permitted br lawl. or by forecbsure or otherr+ise. or to forbear from rcalizing t6ereon, all as 4nder in its unrnatrolled discretion mar deem proper. and to pun6ase all or an~ part of the rnllateral (or its o~+n account at anr suc6 sak or foreclosure, suc6 powers to be e:ucised onl~ io the e=tent permittee! br larr_ The obligations of t6e Undenig~ed hereuader shall not be released. dise6arged or in aer wa~ aSccted, nor s6all tbe Undersianed 6are any ri~6ts or rccourx aaainst Lender. br reason of anr action Lender mar uke or omit to take under tbe foreboiag porren. ~ In case t6e Debtor shaU fail to pay all or any part of the Liabilities ahea due. wb~eher br aeceleration or ot6errrise, acoording to the terms of said note, tbe Uadersianed, immediately upon the written demsnd of Lender. ~rill par to Lender t6e amount due and uapaid br tbe Ikbtor u atotesaid, in like manner u if such amount coastitutcd t6e direct and primary obligation o[ the Undersigned. I.ender s6sl) not be required, prior to any sach demand on. or paymcnt br, t6e Undersigned, to make aRr d~mand upon or pursue or e~aust aor ot its riKhts or rcmedies against t6e Debtor or othaa ~rith r~spect i zo t6e pa~ment oi aa~ of t6e Liabilities, or to pursue ot e=baust anr of iu ribhts or remedies ~rith rapect to anr part o! the collateral. The Uadenigned i shall hare no riaht of submgatioa r+6atsoc~er ~rit6 respect to the Liabilitia or the collateral unless and until Lender s6a11 hare reeeired [nll paymeot of all. ~ the Liabilities. ~ T6e obliRations of tl~e Undersiened hereuader, and the ri~hts of Lender in t6e eollateral, s6s11 not be released. dischar~ed or in anr ~ra~ aHeeted. nor ~ shall the Undersigned have anr rigbts a~ainst Lender: b~ reason ot t6e fact that any of t6e collatenl mar be in detault at the lime of accepunce t6ereof ~ by Lender or later: nor bp reawn oi thc (act that a valid lien in anr o( the collatenl mar not be rnnreyed to, or creatcd in faror ot. Lender; aor b~ reawa ~ of the faet t6at any of t6e collateral may be ~ubject to equities or de~enses or claims in (aror of ot6ers or mar be iavalid or defectire in an~ ~ra~; nor b~ reason o( the faet lhat an~ o( the Liabilitirs m~y br i~ralid for an~ rrason r?6atsoerer; nor br r~asnn of the fact that the ralue ot aar ~f the eollrteral, or the financial condition o( the Drbtor or of any obli~or under or ~uarantor of anyot ihe collatenl, may not hare been rnrrectly estimated or ma~ Lame c6anged ~ or may hereafter c6an~e• nor br reason of any drteraration, waste. or loss by 6re, t6e(t, or othen+ise of aar of the coUateral, unless such deteriontion. waste, or 1ou be caused bp the xill(ul act or xillful failure to act of I.euder. ~ The Undenigned a~recs to (urnish Lender, or t6e 6older ot Ihe afonsaid note of tl~e Debtor, upon demand. but not more often than semiannuallr, so lonq as aar part o( thr indrbt~dncss under such.note remains unpaid. a 6nancial statement setting (orth, in rcasonable detail, the assets. liabilities, ~ and net rrort6 0[ the Undersiy,ned. The Undersi~ned acknoMrle~l~~s and unJerstand~ tbat it ~hr Small Business Adminis~ration ISBA1 MIfI3 into, has entercd into, or will eater into. a ~ Cuarantr A~rrrtn~nt, with I.enJrr or any othrr IrndinX in.ti~ution. Ruarantrein~ a portion o( Debtors Liabilitirs, the Undersiraed a~rees t6at it is aet a coFuanntor ~rith SIi~ and sh~ll ha.~ no ri~ht of contributiun aRainst SE3A. The Undersi~ned further ~Frers that all liabilitr 6ereuoJer s6all oootinue } ?OIWIIIISlaOd1AP, QiymPtl! Ilr'B~ undrr its Guarantr Agreemrnt to the other )cndina institution. 3 3 The terna °UndersiRn~d° as uYd in this aFrrrmrnt ~hall mean the si~er or ~i~ners of t6is aprcement, and such si~ners, if morc thsn one, ahall be jointly and serrnllr liable h~reundrr. Thr Und~r<i~nrd (urthe~ a~rres that ~II liability herrunder shall con~inue not~+rith~tandinR tht inca{wcil~, lack of ~ authoritr, drath, or divbili~Y uf any onr nr m~~rr uf the Und~niKneJ. and that anr tailure br I.endrr or its a.`i~na to 61~ or ~otorce a claim a~ainst t6e r~tatr ot anr o( thr l'ndrr<i~,nrd ~hal) not o~w•ratr tu r~lra~e rnr u~hrr o( th~ UnJenigned fmm liabilitr 6rtrunJrr. The failute o( mr otbt~ person w sign this guaraaty stul) nut relrax or aBect tbe liabilitr of anr signer hercof. ~ ~ .rf .r-~~~iC~ ^ LI~r% ~ - ~ Edeward G. Cridland ~ ~ ~ ' ~i ~I ~ _ f~t.~ f~ _("1~~1..C~~c~C . y Carol~ L. Cridland ~ ~ NOTE.-Cnrpurate Rwrrnton mu.t ~:erut~ Rwrantr in cor{~~nte namr, b~ Julr autlwrizrd o~cer, and .eal muat be alI'it~d and dul~ attrsted; ~ partnership Rwr~ntors mu+! r:rcutr Ruaraalr in tirm natnr, lugrthrr rrilh signalure u( a~eneral partner. Formallr e:ecuted Ru~nat~ is W be deli~ered ~ at the ~ime ot Jiaburxment ut loan. ~ - ~ ~ (L15T nN ItEVEityM: S1DE CO[.I.ATH It.1L SEf.URING TIIE GUARANTY) ~ ~It1 Ft)1111 I-t~t ~e-: U IIF:F ~I) SIO-I,~ 1'lIF:111)Ir~ F:I)I'110~~ AVI) tiltA E't)H~tti 1•1ttA ANI1 IMIB Altf: 011.tiOLE'fE. 0 R~~ Exhibit B ~PO p2.-9.0 a~;r ~1'~ . - - -z