HomeMy WebLinkAbout1555 • J
~ GUARANTY •
THIS GUARANTY entered into and executed this 4th
day of January , 1974, by and between HERMAN GLAZER and
MOLL~LAZER, his wife, residing at Park Towne Place Apartments,
1606 East Park Towne Place, Philadelphia, Pennsylvania 19130, here-
after called "Guarantors" and THE TRUSTEES OF PNB MORTGAGE AND REALTY
INVESTORS, a Maryland Trust, Second Party, hereafter called "Lender",
WITNESSETH:
WHEREAS, Lender has made loans and extended credit in the
s~am of ONE MILLION FOUR NUNORED THOUSAND DOLLARS ($1,400,000.00)
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unto borrowers' corporate nominee,i.e. KINGSWICKE ESTATES, INC., a
Florida corporation, on the 4th day of January ~ , 1974; and
WHEREAS, a promissory note was executed by KINGSWICKE
ESTATES, ZL7C., a Florida corporation, Grantors' nominee, on the 4th
day of January , 1974, a copy of said note attached; and
WHEREAS, it was agreed by and between Lender and Guarantors
that the Guarantor and his wife, individually and jointl.y, guarantee
the payment of t;~e hereindescribed loan without limitation,_
NOW, THEREFORE, it is hereby agreed as follows:
l. That the undersigned Guarantors do hereby guarantee
the full, unconditionaZ and punctual payment upon the due date or
at maturity to Lender, their successors ar assigns, the herein-
described promissory mortgage note and the payment thereof irrespective
of the validity or enforceability thereof, or any instrument evidenc-
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i ing the same.
i 2. That the undersigned hereby waive-_notice of acceptance
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of this Guaranty and also presentment, demand, protest and notice of '
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' non-payn~ent and/or dishonor of any and all of the requirements under
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the promissory note herein referred to. Likewise waive notice of any
default, demand for payment, notice of any full or partial payment of
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' and notice of non-payment of any and all loans, advances, credit and
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other obligations hereinbefore referred to.
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This is a continuing Guaranty and snall rcmain in full force
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