WITHOUT RELEASING,
EXTINGUISHING OR AFFECTING IN ANY MANNER WHATSOEVER THE LIABILITY OF THE
GUARANTOR HEREUNDER, THE FOREGOING ACTS BEING HEREBY CONSENTED TO BY THE
GUARANTOR.
5.
AGREES THAT THE LENDER SHALL NOT BE REQUIRED TO FIRST RESORT FOR
PAYMENT TO THE BORROWER OR ANY OTHER PERSON, CORPORATION OR ENTITY, OR THEIR
PROPERTIES OR ESTATES, OR ANY OTHER RIGHT OR REMEDY WHATSOEVER, PRIOR TO
ENFORCING THIS GUARANTY.
6.
AGREES THAT THIS GUARANTY SHALL BE CONSTRUED AS A CONTINUING,
ABSOLUTE, AND UNCONDITIONAL GUARANTY WITHOUT REGARD TO (I) THE VALIDITY,
REGULARITY OR ENFORCEABILITY OF THE OBLIGATIONS OR THE DISAFFIRMANCE THEREOF IN
ANY INSOLVENCY OR BANKRUPTCY PROCEEDING RELATING TO THE BORROWER, OR (II) ANY
EVENT OR ANY CONDUCT OR ACTION OF THE BORROWER OR THE LENDER OR ANY OTHER PARTY
WHICH MIGHT OTHERWISE CONSTITUTE A LEGAL OR EQUITABLE DISCHARGE OF A SURETY OR
GUARANTOR BUT FOR THIS PROVISION.
7.
AGREES THAT THIS GUARANTY SHALL REMAIN IN FULL FORCE AND EFFECT
AND BE BINDING UPON THE GUARANTOR UNTIL THE OBLIGATIONS ARE PAID IN FULL.
8.
AGREES THAT THE LENDER IS EXPRESSLY AUTHORIZED TO FORWARD OR
DELIVER ANY OR ALL COLLATERAL AND SECURITY WHICH MAY AT ANY TIME BE PLACED WITH
IT BY THE BORROWER, THE GUARANTOR OR ANY OTHER PERSON, DIRECTLY TO THE BORROWER
FOR COLLECTION AND REMITTANCE OR FOR CREDIT, OR TO COLLECT THE SAME IN ANY OTHER
MANNER AND TO RENEW, EXTEND, COMPROMISE, EXCHANGE, RELEASE, SURRENDER OR MODIFY
THE INSTALLMENTS OF, ANY OR ALL OF SUCH COLLATERAL AND SECURITY WITH OR WITHOUT
CONSIDERATION AND WITHOUT NOTICE TO THE GUARANTOR AND WITHOUT IN ANY MANNER
AFFECTING THE ABSOLUTE LIABILITY OF THE GUARANTOR HEREUNDER; AND THAT THE
LIABILITY OF THE GUARANTOR HEREUNDER SHALL NOT BE AFFECTED OR IMPAIRED BY ANY
FAILURE, NEGLECT OR OMISSION ON THE PART OF THE LENDER TO REALIZE UPON THE
OBLIGATIONS, OR UPON ANY COLLATERAL OR SECURITY THEREFOR, NOR BY THE TAKING BY
THE LENDER OF ANY OTHER GUARANTY OR GUARANTIES TO SECURE THE OBLIGATIONS OR ANY
OTHER INDEBTEDNESS OF THE BORROWER TO THE LENDER, NOR BY THE TAKING BY THE
LENDER OF COLLATERAL OR SECURITY OF ANY KIND NOR BY ANY ACT OR FAILURE TO ACT
WHATSOEVER WHICH, BUT FOR THIS PROVISION, MIGHT OR COULD IN LAW OR IN EQUITY ACT
TO RELEASE OR REDUCE THE GUARANTOR'S LIABILITY HEREUNDER.
9.
WAIVES ANY RIGHT THAT THE GUARANTOR MAY HAVE TO COLLECT OR SEEK
TO COLLECT FROM THE BORROWER THE CLAIM, IF ANY, BY SUBROGATION OR OTHERWISE,
ACQUIRED BY THE GUARANTOR THROUGH PAYMENT OF ANY PART OR ALL OF THE OBLIGATIONS
UNTIL THE OBLIGATIONS HAVE BEEN PAID IN FULL.
10.
AGREES THAT THE LIABILITY OF THE GUARANTOR HEREUNDER SHALL NOT BE
AFFECTED OR IMPAIRED BY THE EXISTENCE OR CREATION FROM TIME TO TIME, WITH OR
WITHOUT NOTICE TO THE GUARANTOR, WHICH NOTICE IS HEREBY WAIVED, OF INDEBTEDNESS
FROM THE BORROWER TO THE LENDER IN ADDITION TO THE INDEBTEDNESS EVIDENCED BY THE
NOTES AND THE LINE OF CREDIT; THE CREATION OR EXISTENCE OF SUCH ADDITIONAL
INDEBTEDNESS BEING HEREBY CONSENTED TO BY THE