Guaranty dated 5/5/03



 
EXHIBIT
10.36 
 
GUARANTY 
 

	 Date: 
	 May 5, 2003 


 

	 Guarantor: 
	 Harvey Bibicoff 


 

	 Guarantor’s Mailing Address: 
	 15060 Ventura Boulevard, Suite 240 



	 	 Sherman Oaks, California 91403 


 

	 Borrower: 
	 Bibicoff & Associates, Inc. 


 

	 Borrower’s Mailing Address: 
	 15060 Ventura Boulevard, Suite 240 



	 	 Sherman Oaks, California 91403 


 

	 Lender: 
	 U.S. Home Systems, Inc. 


 

	 Lender’s Mailing Address: 
	 750 State Highway 121 Bypass, Suite 170 



	 	 Lewisville, Texas 75067 


 

	 Guaranteed Indebtedness: 
	 The debt evidenced by the Secured Promissory Note dated May 5, 2003, in the original principal amount of $274,950.00, executed by
Borrower and payable to the order of Lender. 


 
1.    Guarantor agrees to pay, when due or declared due, the Guaranteed Indebtedness to Lender at Lender’s Mailing Address. 
 
2.    Guarantor waives (a) diligence in preserving liability of any person on the
Guaranteed Indebtedness and in collecting or bringing suit to collect the Guaranteed Indebtedness; (b) protest; (c) notice of extensions, increases, renewals, or rearrangements of the Guaranteed Indebtedness; and (d) notice of acceptance of this
guaranty, of creation of the Guaranteed Indebtedness, of failure to pay the Guaranteed Indebtedness as it matures, of any other default, of adverse change in Borrower’s financial condition, of release or substitution of collateral, of intent to
accelerate, of acceleration, and of subordination of Lender’s rights in any collateral, and every other notice of every kind. Guarantor’s obligations under this guaranty will not be altered nor will Lender be liable to Guarantor because of
any action or inaction of Lender in regard to a matter waived or of which notice is waived by Guarantor in the preceding sentence. 
 
3.    Guarantor agrees to pay reasonable attorney’s fees and other collection costs which are reasonable and
necessary if this guaranty is placed in the hands of an attorney for collection. If any party retains an attorney to enforce this guaranty, the party prevailing in litigation is entitled to recover reasonable and necessary attorney’s fees and
court and other costs. 
 
4.     This guaranty is an absolute, irrevocable, unconditional, and continuing guaranty of payment and performance and not of collection. 
 

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5.    Lender need not resort to Borrower or any other person or proceed against collateral before pursuing its rights against Guarantor or any other guarantor. Lender’s action or inaction with respect to any
right of Lender under the law or any agreement will not alter the obligation of Guarantor hereunder. Lender may pursue any remedy against Borrower or any collateral or under any other guaranty without altering the obligations of Guarantor hereunder
and without liability to Guarantor, even though Lender’s pursuit of such remedy may result in Guarantor’s loss of rights of subrogation or to proceed against others for reimbursement of contribution or any other right. 
 
6.    Guarantor will remain liable for the
Guaranteed Indebtedness even though the Guaranteed Indebtedness may be unenforceable against or uncollectible from Borrower or any other person because of incapacity, lack of power or authority, discharge, or any other reason. 
 
7.    Guarantor consents and acknowledges
that Guarantor’s obligations will not be released by (a) the renewal, extension, or modification of the Guaranteed Indebtedness; (b) the insolvency, bankruptcy, liquidation, or dissolution of Borrower or any other obligor; (c) the failure of
Lender to properly obtain, perfect, or preserve any security interest or lien in any collateral for the Guaranteed Indebtedness; (d) the release, substitution, or addition of any collateral for the Guaranteed Indebtedness; or (e) the failure of
Lender to exercise diligence, commercial reasonableness, or reasonable care in the preservation, enforcement, or sale of any of the collateral. 
 
8.    Lender need not notify Guarantor that Lender has sued Borrower, but if Lender gives written notice to Guarantor
that it has sued Borrower, Guarantor will be bound by any judgment or decree, to the extent permitted by law. 
 
9.    Lender may sue any guarantor without impairing Lender’s rights against any other guarantor, with or without
making Borrower a party. Lender may settle with Borrower or any other guarantor for such amounts as it may elect or may release Borrower or any guarantor or any collateral securing the Guaranteed Indebtedness without impairing Lender’s right to
collect the Guaranteed Indebtedness from Guarantor. 
 
10.    This guaranty binds Guarantor and Guarantor’s heirs, successors, and assigns, and it benefits and may be enforced by Lender and Lender’s successors in interest. When the context requires, singular
nouns and pronouns include the plural. This guaranty will be construed under the laws of the state of Texas, without regard to choice-of-law rules of any jurisdiction. The provisions of this guaranty are severable. If a court of competent
jurisdiction finds that any provision of this guaranty is unenforceable, then the remaining provisions will remain in effect without the unenforceable parts. In any litigation in connection with this Guaranty, Guarantor irrevocably consents to and
confers personal jurisdiction on the courts of the State of Texas or the United State courts located within the State of Texas. 
 
11.    FINAL AGREEMENT: THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL 
 

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AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 
                        /s/ Harvey
Bibicoff                         
HARVEY BIBICOFF 
 

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