REPAYMENT OF THE LOAN; AND
(XI)
THE BENEFIT OF ALL VALUATION, APPRAISEMENT, EXTENSION AND
EXEMPTION LAWS;
it being understood and agreed that Lender has no duty to so inform and that
Guarantor is fully responsible for being and remaining informed by Borrower of
all circumstances bearing on the existence or creation of the risk of nonpayment
and/or nonperformance of the Secured Obligations.
(B)
CREDIT MAY BE GRANTED OR CONTINUED FROM TIME TO TIME BY LENDER TO
BORROWER WITHOUT NOTICE TO OR AUTHORIZATION FROM GUARANTOR, INCLUDING BUT NOT
LIMITED TO MAKING ADDITIONAL LOANS OR OTHER FINANCIAL ACCOMMODATIONS BY LENDER
TO BORROWER OR ANY OTHER LOAN PARTY REGARDLESS OF THE FINANCIAL OR OTHER
CONDITION OF BORROWER, ANY OTHER LOAN PARTY OR THE PROPERTY AND GUARANTOR AGREES
THAT THE OBLIGATIONS, COVENANTS AND AGREEMENTS OF GUARANTOR UNDER THIS
COMPLETION GUARANTY SHALL NOT BE DISCHARGED, AFFECTED OR IMPAIRED THEREBY.
(C)
NO MODIFICATION OR WAIVER OF ANY OF THE PROVISIONS OF THIS
COMPLETION GUARANTY SHALL BE BINDING UPON LENDER OR GUARANTOR EXCEPT AS
EXPRESSLY SET FORTH IN A WRITING DULY SIGNED AND DELIVERED ON BEHALF OF LENDER.
(D)
GUARANTOR FURTHER AGREES THAT ANY EXCULPATORY LANGUAGE PERTAINING
TO BORROWER OR TO ANY OTHER LOAN PARTY CONTAINED IN THE NOTE, THE LOAN AGREEMENT
OR ANY OTHER LOAN DOCUMENT SHALL IN NO EVENT APPLY TO THIS COMPLETION GUARANTY,
AND WILL NOT PREVENT LENDER FROM PROCEEDING AGAINST GUARANTOR TO ENFORCE THIS
COMPLETION GUARANTY.
(E)
GUARANTOR HEREBY WAIVES THE BENEFIT OF ANY LAW THAT WOULD
OTHERWISE RESTRICT OR LIMIT LENDER IN THE EXERCISE OF ITS RIGHT, WHICH IS HEREBY
ACKNOWLEDGED, TO APPROPRIATE WITHOUT NOTICE AT ANY TIME HEREAFTER ANY
INDEBTEDNESS OR OBLIGATION MATURED OR UNMATURED OWING FROM LENDER TO GUARANTOR.
LENDER MAY, FROM TIME TO TIME, WITHOUT DEMAND OR NOTICE OF ANY KIND, APPROPRIATE
AND APPLY TOWARD THE PAYMENT OF SUCH OF THE GUARANTEED OBLIGATIONS, AND IN SUCH
ORDER OF APPLICATION, AS LENDER MAY, FROM TIME TO TIME, ELECT ANY AND ALL SUCH
BALANCES, CREDITS, DEPOSITS, ACCOUNTS, MONEYS, CASH EQUIVALENTS AND OTHER
ASSETS, OR IN THE NAME OF GUARANTOR, THEN OR THEREAFTER HELD BY OR UNDER THE
CONTROL OF LENDER.
GUARANTOR HEREBY ASSIGNS AND TRANSFERS TO LENDER ANY AND ALL
CASH, NEGOTIABLE INSTRUMENTS, DOCUMENTS OF TITLE, CHATTEL PAPER, SECURITIES,
CERTIFICATES OF DEPOSIT, DEPOSIT ACCOUNTS, OTHER CASH EQUIVALENTS AND OTHER
ASSETS OF GUARANTOR, IN THE POSSESSION OR CONTROL OF LENDER FOR ANY PURPOSE.
(F)
GUARANTOR HEREBY WAIVES THE FILING OF A CLAIM WITH A COURT IN THE
EVENT OF RECEIVERSHIP OR BANKRUPTCY OF BORROWER AND WAIVES EVERY DEFENSE, CAUSE
OF ACTION, COUNTERCLAIM
9
OR SETOFF WHICH GUARANTOR MAY NOW HAVE OR HEREAFTER MAY HAVE TO ANY ACTION BY
LENDER IN ENFORCING THIS COMPLETION GUARANTY, INCLUDING, WITHOUT LIMITATION,
EVERY DEFENSE, COUNTERCLAIM OR SETOFF WHICH GUARANTOR MAY NOW HAVE, OR HEREAFTER
MAY HAVE, AGAINST BORROWER, ANY OTHER LOAN PARTY OR ANY OTHER PARTY LIABLE TO
LENDER IN ANY MANNER.
GUARANTOR RATIFIES AND CONFIRMS WHATEVER LENDER MAY DO
PURSUANT TO THE TERMS HEREOF AND WITH RESPECT TO ALL OR ANY PART OF THE PROPERTY