Document:

GUARANTY
      AGREEMENT

    

    Guaranty
      Agreement, dated as of April 6, 2007, made by each of the signatories hereto
      (together with any other entity that may become a party hereto as provided
      herein, the “Guarantors”),
      in
      favor of Sheridan
      Asset Management, LLC
      (the
      "Lender")
      relating to that certain Loan Agreement, dated as of the date hereof, between
      Universal
      Property Development and Acquisition Corporation,
      a
      Nevada corporation (the “Company”)
      and
      the Lender. 

    

    WITNESSETH:

    

    Whereas,
      pursuant to that certain Loan Agreement, dated as of the date hereof, by and
      between the Company and the Lender (the “Loan
      Agreement”),
      the
      Lender has agreed to make a term loan to the Company evidenced by the Company’s
      Senior Secured Promissory Note, due April 6,
      2008
(the
      “Note”),
      subject to the terms and conditions set forth therein; and

    

    Whereas,
      it is a condition precedent to the determination of the Lender to make loans
      to
      the Company pursuant to the Loan Agreement that the Guarantors shall have
      executed and delivered the Guaranty to the Lender; and

    

    Whereas,
      each Guarantor will directly benefit from the extension of credit to the Company
      represented by the issuance of the Note; and

    

    NOW,
      THEREFORE, in consideration of the premises and to induce the Lender to enter
      into the Loan Agreement and to carry out the transactions contemplated thereby,
      each Guarantor hereby agrees with the Lender as follows:

     

    1.  Definitions.
      Unless
      otherwise defined herein, terms defined in the Loan Agreement and used herein
      shall have the meanings given to them in the Loan Agreement. The words “hereof,”
“herein,” “hereto” and “hereunder” and words of similar import when used in this
      Guaranty shall refer to this Guaranty as a whole and not to any particular
      provision of this Guaranty, and Section and Schedule references are to this
      Guaranty unless otherwise specified. The meanings given to terms defined herein
      shall be equally applicable to both the singular and plural forms of such terms.
      The following terms shall have the following meanings:

    

    “Action”
shall
      have the meaning set forth in Section 3(f) of this Guaranty.

    

    “Company”
shall
      have the meaning set forth in the Preamble of this Guaranty.

    

    “Financial
      Information”
shall
      have the meaning set forth in Section 3(d) of this Guaranty.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Guaranty”
means
      this Guaranty Agreement, as the same may be amended, supplemented or otherwise
      modified from time to time.

    

    “Guarantors”
shall
      have the meaning set forth in the Preamble of this Guaranty.

    

    “Lender”
shall
      have the meaning set forth in the Preamble of this Guaranty.

    

    “Loan
      Agreement”
shall
      have the meaning set forth in the Recitals of this Guaranty.

    

    “Note”
shall
      have the meaning set forth in the Recitals of this Guaranty.

    

    “Obligations”
means
      the collective reference to all obligations and undertakings of the Company
      of
      whatever nature, monetary or otherwise, under the Note,
      the
      Loan Agreement, the Security Agreement, the other Transaction Documents or
      any
      other future agreement or obligations undertaken by the Company to the Lender,
      together with all reasonable attorneys’ fees, disbursements and all other costs
      and expenses of collection incurred by Lender in enforcing any of such
      Obligations and/or this Guaranty. 

    

    “Material
      Adverse Effect”
means
      (x) the adverse effect on the legality, validity or enforceability of this
      Guaranty in any material respect, (y) a material adverse effect on the financial
      condition of the Guarantor, or (z) the adverse impairment in any material
      respect of the Guarantor's ability to perform fully on a timely basis its
      obligations under this Guaranty.

    

    

    2.  Guaranty.

    

    (a)  Guaranty.

    

    	(i)  	
            The
              Guarantors hereby, jointly and severally, unconditionally and irrevocably,
              guarantee to the Lender and its respective successors, indorsees,
              transferees and assigns, the prompt and complete payment and performance
              by the Company when due (whether at the stated maturity, by acceleration
              or otherwise) of the Obligations. 

          

    

    	(ii)  	
            Anything
              herein or in any other Transaction Document to the contrary
              notwithstanding, the maximum liability of each Guarantor hereunder
              and
              under the other Transaction Documents shall in no event exceed the
              amount
              which can be guaranteed by such Guarantor under applicable federal
              and
              state laws, including laws relating to the insolvency of debtors,
              fraudulent conveyance or transfer or laws affecting the rights of
              creditors generally (after giving effect to the right of contribution
              established in Section 2(b)). 

          

     

     

    
      
         

      

      
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    	(iii)  	
            Each
              Guarantor agrees that the Obligations may at any time and from time
              to
              time exceed the amount of the liability of such Guarantor hereunder
              without impairing the guarantee contained in this Section 2 or affecting
              the rights and remedies of the Lender
              hereunder.

          

    

    	(iv)  	
            The
              guarantee contained in this Section 2 shall remain in full force and
              effect until all the Obligations and the obligations of each Guarantor
              under the guarantee contained in this Section 2 shall have been satisfied
              by payment in full. 

          

    

    	(v)  	
            No
              payment made by the Company, any of the Guarantors, any other guarantor
              or
              any other Person or received or collected by the Lender from the Company,
              any of the Guarantors, any other guarantor or any other Person by virtue
              of any action or proceeding or any set-off or appropriation or application
              at any time or from time to time in reduction of or in payment of the
              Obligations shall be deemed to modify, reduce, release or otherwise
              affect
              the liability of any Guarantor hereunder which shall, notwithstanding
              any
              such payment (other than any payment made by such Guarantor in respect
              of
              the Obligations or any payment received or collected from such Guarantor
              in respect of the Obligations), remain liable for the Obligations up
              to
              the maximum liability of such Guarantor hereunder until the Obligations
              are paid in full.

          

    

    	(vi)  	
            Notwithstanding
              anything to the contrary in this Guaranty, with respect to any defaulted
              non-monetary Obligations the specific performance of which by the
              Guarantors is not reasonably possible, the Guarantors shall only be
              liable
              for making the Lender whole on a monetary basis for the Company's failure
              to perform such Obligations in accordance with the Transaction Documents.
              

          

    

    

    (b)  Right
      of Contribution.
      Each
      Guarantor hereby agrees that, to the extent that a Guarantor shall have paid
      more than its proportionate share of any payment made hereunder, such Guarantor
      shall be entitled to seek and receive contribution from and against any other
      Guarantor hereunder which has not paid its proportionate share of such payment.
      Each Guarantor's right of contribution shall be subject to the terms and
      conditions of Section 2(c). The provisions of this Section 2(b) shall in no
      respect limit the obligations and liabilities of any Guarantor to the Lender,
      and each Guarantor shall remain liable to the Lender for the full amount
      guaranteed by such Guarantor hereunder.

     

     

    
      
         

      

      
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    (c)  No
      Subrogation.
      Notwithstanding any payment made by any Guarantor hereunder or any set-off
      or
      application of funds of any Guarantor by the Lender, no Guarantor shall be
      entitled to be subrogated to any of the rights of the Lender against the Company
      or any other Guarantor or any collateral security or guarantee or right of
      offset held by the Lender for the payment of the Obligations, nor shall any
      Guarantor seek or be entitled to seek any contribution or reimbursement from
      the
      Company or any other Guarantor in respect of payments made by such Guarantor
      hereunder, until all amounts owing to the Lender by the Company on account
      of
      the Obligations are paid in full. If any amount shall be paid to any Guarantor
      on account of such subrogation rights at any time when all of the Obligations
      shall not have been paid in full, such amount shall be held by such Guarantor
      in
      trust for the Lender, segregated from other funds of such Guarantor, and shall,
      forthwith upon receipt by such Guarantor, be turned over to the Lender in the
      exact form received by such Guarantor (duly indorsed by such Guarantor to the
      Lender if required), to be applied against the Obligations, whether matured
      or
      unmatured, in such order as the Lender may determine.

    

    (d)  Amendments,
      Etc. With Respect to the Obligations.
      Each
      Guarantor shall remain obligated hereunder notwithstanding that, without any
      reservation of rights against any Guarantor and without notice to or further
      assent by any Guarantor, any demand for payment of any of the Obligations made
      by the Lender may be rescinded by the Lender and any of the Obligations
      continued, and the Obligations, or the liability of any other Person upon or
      for
      any part thereof, or any collateral security or guarantee therefor or right
      of
      offset with respect thereto, may, from time to time, in whole or in part, be
      renewed, extended, amended, modified, accelerated, compromised, waived,
      surrendered or released by the Lender, and the Loan Agreement and the other
      Transaction Documents and any other documents executed and delivered in
      connection therewith may be amended, modified, supplemented or terminated,
      in
      whole or in part, as the Lender may deem advisable from time to time, and any
      collateral security, guarantee or right of offset at any time held by the Lender
      for the payment of the Obligations may be sold, exchanged, waived, surrendered
      or released. The Lender shall have no obligation to protect, secure, perfect
      or
      insure any Lien at any time held by them as security for the Obligations or
      for
      the guarantee contained in this Section 2 or any property subject thereto.
      

    

    (e)  Guaranty
      Absolute and Unconditional.
      Each
      Guarantor waives any and all notice of the creation, renewal, extension or
      accrual of any of the Obligations and notice of or proof of reliance by the
      Lender upon the guarantee contained in this Section 2 or acceptance of the
      guarantee contained in this Section 2; the Obligations, and any of them, shall
      conclusively be deemed to have been created, contracted or incurred, or renewed,
      extended, amended or waived, in reliance upon the guarantee contained in this
      Section 2; and all dealings between the Company and any of the Guarantors,
      on
      the one hand, and the Lender, on the other hand, likewise shall be conclusively
      presumed to have been had or consummated in reliance upon the guarantee
      contained in this Section 2. Each Guarantor waives to the extent permitted
      by
      law diligence, presentment,
      protest, demand for payment and notice of default or nonpayment to or upon
      the
      Company or any of the Guarantors with respect to the Obligations. Each Guarantor
      understands and agrees that the guarantee contained in this Section 2 shall
      be
      construed as a continuing, absolute and unconditional guarantee of payment
      without regard to (a) the validity or enforceability of the Loan Agreement
      or
      any other Transaction Document, any of the Obligations or any other collateral
      security therefor or guarantee or right of offset with respect thereto at any
      time or from time to time held by the Lender, (b) any defense, set-off or
      counterclaim (other than a defense of payment or performance or fraud or
      misconduct by Lender) which may at any time be available to or be asserted
      by
      the Company or any other Person against the Lender, or (c) any other
      circumstance whatsoever (with or without notice to or knowledge of the Company
      or such Guarantor) which constitutes, or might be construed to constitute,
      an
      equitable or legal discharge of the Company for the Obligations, or of such
      Guarantor under the guarantee contained in this Section 2, in bankruptcy or
      in
      any other instance. When making any demand hereunder or otherwise pursuing
      its
      rights and remedies hereunder against any Guarantor, the Lender may, but shall
      be under no obligation to, make a similar demand on or otherwise pursue such
      rights and remedies as it may have against the Company, any other Guarantor
      or
      any other Person or against any collateral security or guarantee for the
      Obligations or any right of offset with respect thereto, and any failure by
      the
      Lender to make any such demand, to pursue such other rights or remedies or
      to
      collect any payments from the Company, any other Guarantor or any other Person
      or to realize upon any such collateral security or guarantee or to exercise
      any
      such right of offset, or any release of the Company, any other Guarantor or
      any
      other Person or any such collateral security, guarantee or right of offset,
      shall not relieve any Guarantor of any obligation or liability hereunder, and
      shall not impair or affect the rights and remedies, whether express, implied
      or
      available as a matter of law, of the Lender against any Guarantor. For the
      purposes hereof, "demand" shall include the commencement and continuance of
      any
      legal proceedings.

     

     

    
      
         

      

      
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    (f)  Reinstatement.
      The
      guarantee contained in this Section 2 shall continue to be effective, or be
      reinstated, as the case may be, if at any time payment, or any part thereof,
      of
      any of the Obligations is rescinded or must otherwise be restored or returned
      by
      the Lender upon the insolvency, bankruptcy, dissolution, liquidation or
      reorganization of the Company or any Guarantor, or upon or as a result of the
      appointment of a receiver, intervenor or conservator of, or trustee or similar
      officer for, the Company or any Guarantor or any substantial part of its
      property, or otherwise, all as though such payments had not been
      made.

     

    
      
         

      

      
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    (g)  Payments.
      Each
      Guarantor hereby guarantees that payments hereunder will be paid to the Lender
      without set-off or counterclaim in U.S. dollars at the address set forth or
      referred to in the Loan Agreement.

    

    3.  Representations
      and Warranties.
      Each
      Guarantor hereby makes the following representations and warranties to Lender
      as
      of the date hereof:

     

    

    (a)  Authorization;
      Enforcement.
      The
      Guarantor has the legal capacity and right to enter into and to consummate
      the
      transactions contemplated by this Guaranty, and otherwise to carry out its
      obligations hereunder. This Guaranty has been duly executed and delivered by
      the
      Guarantor and constitutes the valid and binding obligation of the Guarantor
      enforceable against the Guarantor in accordance with its terms.

    

    (b)  No
      Conflicts.
      The
      execution, delivery and performance of this Guaranty by the Guarantor and the
      consummation by the Guarantor of the transactions contemplated thereby do not
      and will not (i) conflict with, constitute a default (or an event which with
      notice or lapse of time or both would become a default) under, or give to others
      any rights of termination, amendment, acceleration or cancellation of, any
      agreement, indenture or instrument to which the Guarantor is a party, or (ii)
      result in a violation of any law, rule, regulation, order, judgment, injunction,
      decree or other restriction of any court or governmental authority to which
      the
      Guarantor is subject (including Federal and state securities laws and
      regulations) or by which any property or asset of the Guarantor is bound or
      affected. The business of the Guarantor is not being conducted in violation
      of
      any law, ordinance or regulation of any governmental authority, except for
      violations which, individually or in the aggregate, do not have a Material
      Adverse Effect.

     

    (c)  Consents
      and Approvals.
      The
      Guarantor is not required to obtain any consent, waiver, authorization or order
      of, or make any filing or registration with, any court or other federal, state,
      local, foreign or other governmental authority or other person in connection
      with the execution, delivery and performance by the Guarantor of this
      Guaranty.

    

    (d)  Financial
      Condition.
      The Guarantor has furnished to the Lender the following financial information:
      A
      statement of personal assets (“Financial
      Information”).
      The Financial Information was prepared in accordance with sound accounting
      principles applied on a basis consistently maintained throughout the period
      involved and prior periods and fairly presents the financial condition of
      Guarantor as of such date.

     

     

    
      
         

      

      
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    (e)  Material
      Changes.
      The has been no material adverse change in the business prospects, assets,
      liabilities, operations, or financial condition of the Guarantor, since the
      date
      of the last Financial Information previously delivered to
      Lender.

    

    (f)  Litigation.
      There
      is no action, litigation, suit, inquiry, notice of violation, proceeding or
      investigation pending or, to the knowledge of the Guarantor, threatened against
      or affecting the Guarantor, or any of its properties before or by any court,
      arbitrator, governmental or administrative agency or regulatory authority
      (federal, state, county, local or foreign) (collectively, an “Action”)
      which
      (i) adversely affects or challenges the legality, validity or enforceability
      of
      any of the Guaranty or the Loan Agreement or (ii) could, if there were an
      unfavorable decision, have or reasonably be expected to result in a Material
      Adverse Effect. The Guarantor has not been the subject of any Action involving
      a
      claim of violation of or liability under federal or state securities laws
      .

    

    (g)  Compliance.
      The
      Guarantor (i) is not in default under or in violation of (and no event has
      occurred that has not been waived that, with notice or lapse of time or both,
      would result in a default by the Guarantor under), nor has the Guarantor
      received notice of a claim that it is in default under or that it is in
      violation of, any indenture, loan or credit agreement or any other agreement
      or
      instrument to which it is a party or by which it or any of its assets or
      properties is bound (whether or not such default or violation has been waived),
      (ii) is not in violation of any order of any court, arbitrator or governmental
      body to which the Guarantor is subject or by which it or any of its assets
      or
      properties is bound, and (iii) is not and has not been in violation of any
      statute, rule or regulation of any governmental authority, including without
      limitation all foreign, federal, state and local laws.

    

    (h)  Title
      to Assets.
      The
      Guarantor has good and marketable title in fee simple to all real property
      it
      owns and marketable title in all personal property it owns, in each case free
      and clear of all liens, except for liens as do not materially affect the value
      of such property and do not materially interfere with the use made and proposed
      to be made of such property by the Guarantor and liens for the payment of
      federal, state or other taxes, the payment of which is neither delinquent nor
      subject to penalties. Any real property and facilities held under lease by
      the
      Guarantor are held under valid, subsisting and enforceable leases of which
      the
      Guarantor is in compliance.

    

    (i)  Solvency.
      The
      Guarantor has no knowledge of any facts or circumstances which lead it to
      believe that it will file for bankruptcy under the bankruptcy laws of any
      jurisdiction within 7 year[s]
      from the date of this Guaranty. 

    

    (j)  Tax
      Status.
      Except
      for matters that would not, individually or in the aggregate, have or reasonably
      be expected to result in a Material Adverse Effect, the Guarantor has filed
      all
      necessary federal, state and foreign income tax returns and has paid or accrued
      all taxes shown as due thereon, and the Guarantor has no knowledge of a tax
      deficiency which has been asserted or threatened against it.

     

    
      
         

      

      
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    4.  Covenants.
      Each
      Guarantor covenants and agrees with the Lender that, from and after the date
      of
      this Guaranty until the Obligations shall have been paid in full, such Guarantor
      shall take, and/or shall refrain from taking, as the case may be, each
      commercially reasonable action (including complying with all of the obligations
      in Section 4 of the Note) that is necessary to be taken or not taken, as the
      case may be, so that no Event of Default is caused by the failure to take such
      action or to refrain from taking such action by such Guarantor. 

     

    5.  Miscellaneous.

    

    (a)  Amendments
      in Writing.
      None of
      the terms or provisions of this Guaranty may be waived, amended, supplemented
      or
      otherwise modified except in writing by the majority in interest (based on
      the
      then-outstanding principal amount of the Note at the time of such determination)
      of the Lender.

     

    (b)  Notices.
      All
      notices, requests and demands to or upon the Lender or any Guarantor hereunder
      shall be effected in the manner provided for in the Loan Agreement; provided
      that any
      such notice, request or demand to or upon any Guarantor shall be addressed
      to
      such Guarantor at its notice address set forth on Schedule 5(b).

    

    (c)  No
      Waiver By Course Of Conduct; Cumulative Remedies.
      The
      Lender shall not by any act (except by a written instrument pursuant to Section
      5(a)), delay, indulgence, omission or otherwise be deemed to have waived any
      right or remedy hereunder or to have acquiesced in any default under the
      Transaction Documents or Event of Default. No failure to exercise, nor any
      delay
      in exercising, on the part of the Lender, any right, power or privilege
      hereunder shall operate as a waiver thereof. No single or partial exercise
      of
      any right, power or privilege hereunder shall preclude any other or further
      exercise thereof or the exercise of any other right, power or privilege. A
      waiver by the Lender of any right or remedy hereunder on any one occasion shall
      not be construed as a bar to any right or remedy which the Lender would
      otherwise have on any future occasion. The rights and remedies herein provided
      are cumulative, may be exercised singly or concurrently and are not exclusive
      of
      any other rights or remedies provided by law.

    

     

    
      
         

      

      
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    (d)  Enforcement
      Expenses;
      Indemnification.

    

    	(i)  	
            Each
              Guarantor agrees to pay, or reimburse the Lender for, all its costs
              and
              expenses incurred in collecting against such Guarantor under the guarantee
              contained in Section 2 or otherwise enforcing or preserving any rights
              under this Guaranty and the other Transaction Documents to which such
              Guarantor is a party, including, without limitation, the reasonable
              fees
              and disbursements of counsel to the
              Lender.

          

    

    	(ii)  	
            Each
              Guarantor agrees to pay, and to save the Lender harmless from, any
              and all
              liabilities with respect to, or resulting from any delay in paying,
              any
              and all stamp, excise, sales or other taxes which may be payable or
              determined to be payable in connection with any of the transactions
              contemplated by this Guaranty.

          

    

    	(iii)  	
            Each
              Guarantor agrees to pay, and to save the Lender harmless from, any
              and all
              liabilities, obligations, losses, damages, penalties, actions, judgments,
              suits, costs, expenses or disbursements of any kind or nature whatsoever
              with respect to the execution, delivery, enforcement, performance and
              administration of this Guaranty to the extent the Company would be
              required to do so pursuant to the Loan
              Agreement.

          

    

    	(iv)  	
            The
              agreements in this Section shall survive repayment of the Obligations
              and
              all other amounts payable under the Loan Agreement and the other
              Transaction Documents. 

          

    

    (e)  Successor
      and Assigns.
      This
      Guaranty shall be binding upon the successors and permitted assigns of each
      Guarantor and shall inure to the benefit of the Lender and its respective
      successors and assigns; provided that no Guarantor may assign, transfer or
      delegate any of its rights or obligations under this Guaranty without the prior
      written consent of the Lender.

    

    (f)  Set-Off.
      Each
      Guarantor hereby irrevocably authorizes the Lender at any time and from time
      to
      time while an Event of Default under any of the Transaction Documents shall
      have
      occurred and be continuing, without notice to such Guarantor or any other
      Guarantor, any such notice being expressly waived by each Guarantor, to set-off
      and appropriate and apply any and all deposits, credits, indebtedness or claims,
      in any currency, in each case whether direct or indirect, absolute or
      contingent, matured or unmatured, at any time held or owing by the Lender to
      or
      for the credit or the account of such Guarantor, or any part thereof in such
      amounts as the Lender may elect, against and on account of the obligations
      and
      liabilities of such Guarantor to the Lender hereunder and claims of every nature
      and description of the Lender against such Guarantor, in any currency, whether
      arising hereunder, under the Loan Agreement, any other Transaction Document
      or
      otherwise, as the Lender may elect, whether or not the Lender has made any
      demand for payment and although such obligations, liabilities and claims may
      be
      contingent or unmatured. The Lender shall notify such Guarantor promptly of
      any
      such set-off and the application made by the Lender of the proceeds thereof,
      provided that the failure to give such notice shall not affect the validity
      of
      such set-off and application. The rights of the Lender under this Section are
      in
      addition to other rights and remedies (including, without limitation, other
      rights of set-off) which the Lender may have.

     

     

    
      
         

      

      
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    (g)  Counterparts.
      This
      Guaranty may be executed by one or more of the parties to this Guaranty on
      any
      number of separate counterparts (including by telecopy), and all of said
      counterparts taken together shall be deemed to constitute one and the same
      instrument. 

    

    (h)  Severability.
      Any
      provision of this Guaranty which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction. 

    

    (i)  Section
      Headings.
      The
      Section headings used in this Guaranty are for convenience of reference only
      and
      are not to affect the construction hereof or be taken into consideration in
      the
      interpretation hereof.

    

    (j)  Integration.
      This
      Guaranty and the other Transaction Documents represent the agreement of the
      Guarantors and the Lender with respect to the subject matter hereof and thereof,
      and there are no promises, undertakings, representations or warranties by the
      Lender relative to subject matter hereof and thereof not expressly set forth
      or
      referred to herein or in the other Transaction Documents.

    

    (k)  Governing
      Law.
      THIS
      GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
      WITH,
      THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS
      OF LAWS. 

    

    (l)  Submission
      to Jurisdictional; Waiver.
      Each
      Guarantor hereby

    irrevocably
      and unconditionally:

    

    	(i)  	
            submits
              for itself and its property in any legal action or proceeding relating
              to
              this Guaranty and the other Transaction Documents to which it is a
              party,
              or for recognition and enforcement of any judgment in respect thereof,
              to
              the exclusive general jurisdiction of the Courts of the State of New
              York,
              located in New York County, New York, the courts of the United States
              of
              America for the Southern District of New York, and appellate courts
              from
              any thereof; 

          

     

     

    
      
         

      

      
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    	(ii)  	
            consents
              that any such action or proceeding may be brought in such courts and
              waives any objection that it may now or hereafter have to the venue
              of any
              such action or proceeding in any such court or that such action or
              proceeding was brought in an inconvenient court and agrees not to plead
              or
              claim the same; 

          

    

    	(iii)  	
            agrees
              that service of process in any such action or proceeding may be effected
              by mailing a copy thereof by registered or certified mail (or any
              substantially similar form of mail), postage prepaid, to such Guarantor
              at
              its address referred to in the Loan Agreement or at such other address
              of
              which the Lender shall have been notified pursuant
              thereto;

          

    

    	(iv)  	
            agrees
              that nothing herein shall affect the right to effect service of process
              in
              any other manner permitted by law or shall limit the right to sue in
              any
              other jurisdiction; and 

          

    

    	(v)  	
            waives,
              to the maximum extent not prohibited by law, any right it may have
              to
              claim or recover in any legal action or proceeding referred to in this
              Section any special, exemplary, punitive or consequential damages.
              

          

    

    (m)  Acknowledgements.
      Each
      Guarantor hereby acknowledges that:

    

    	(i)  	
            it
              has been advised by counsel in the negotiation, execution and delivery
              of
              this Guaranty and the other Transaction Documents to which it is a
              party;
              

          

    

    	(ii)  	
            the
              Lender has no fiduciary relationship with or duty to any Guarantor
              arising
              out of or in connection with this Guaranty or any of the other Transaction
              Documents, and the relationship between the Guarantors, on the one
              hand,
              and the Lender, on the other hand, in connection herewith or therewith
              is
              solely that of debtor and creditor; and 

          

    

    	(iii)  	
            no
              joint venture is created hereby or by the other Transaction Documents
              or
              otherwise exists by virtue of the transactions contemplated hereby
              among
              the Guarantors and the Lender. 

          

     

     

    
      
         

      

      
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    (n)  Release
      of Guarantors.
      Subject
      to Section 2(f), each Guarantor will be released from all liability hereunder
      concurrently with the repayment in full of all amounts owed under the Loan
      Agreement, the Note and the other Transaction Documents. 

    

    (o)  Seniority.
      The
      Obligations of each of the Guarantors hereunder rank senior in priority to
      any
      other debt of such Guarantor. 

    

    (p)  Waiver
      of Jury Trial.
      EACH
      GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE LENDER, HEREBY
      IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR
      PROCEEDING RELATING TO THIS GUARANTY AND FOR ANY COUNTERCLAIM
      THEREIN.

    
      
         

      

      
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    IN
      WITNESS WHEREOF, the undersigned has caused this Guaranty to
      be
      duly executed and delivered as of the date first above written.

    

     

    
 

    
      
        

      

    

    KAMAL
      ABDALLAH

     

    
      
         

      

      
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    SCHEDULE
      5(b)

    

    GUARANTORS

    

    The
      following are the names and notice addresses of each Guarantor.

    

    
      	
              NAME

            	 	
              ADDRESS

            
	
              KAMAL
                ABDALLAH

            	 	
              8
                Links Green, San Antonio, TX 78257

            
	
              CHRISTOPHER
                J. MCCAULEY

            	 	
              5408
                Valley Pkwy., Brecksville, OH 44141

            

    

    

    
      
         

      

      
        14
          of 14GUARANTY
      AGREEMENT

    

    Guaranty
      Agreement, dated as of April 6, 2007, made by each of the signatories hereto
      (together with any other entity that may become a party hereto as provided
      herein, the “Guarantors”),
      in
      favor of Sheridan
      Asset Management, LLC
      (the
      "Lender")
      relating to that certain Loan Agreement, dated as of the date hereof, by and
      among Universal
      Property Development and Acquisition Corporation,
      a
      Nevada corporation (the “Company”),
      the
      Guarantors, and the Lender. 

    

    WITNESSETH:

    

    WHEREAS,
      pursuant to that certain Loan Agreement, dated as of the date hereof, by and
      between the Company and the Lender (the “Loan
      Agreement”),
      the
      Lender has agreed to make a term loan to the Company evidenced by the Company’s
      Senior Secured Promissory Note, due April 6,
      2008
(the
      “Note”),
      subject to the terms and conditions set forth therein; and

    

    WHEREAS,
      it is a
      condition precedent to the determination of the Lender to make loans to the
      Company pursuant to the Loan Agreement that the Guarantors shall have executed
      and delivered the Guaranty to the Lender; and

    

    WHEREAS,
      each
      Guarantor will directly benefit from the extension of credit to the Company
      represented by the issuance of the Note; and

    

    NOW,
      THEREFORE, in consideration of the premises and to induce the Lender to enter
      into the Loan Agreement and to carry out the transactions contemplated thereby,
      each Guarantor hereby agrees with the Lender as follows:

     

    1.  Definitions.
      Unless
      otherwise defined herein, terms defined in the Loan Agreement and used herein
      shall have the meanings given to them in the Loan Agreement. The words “hereof,”
“herein,” “hereto” and “hereunder” and words of similar import when used in this
      Guaranty shall refer to this Guaranty as a whole and not to any particular
      provision of this Guaranty, and Section and Schedule references are to this
      Guaranty unless otherwise specified. The meanings given to terms defined herein
      shall be equally applicable to both the singular and plural forms of such terms.
      The following terms shall have the following meanings:

    

    “Action”
shall
      have the meaning set forth in Section 3(f) of this Guaranty.

    

    “Company”
shall
      have the meaning set forth in the Preamble of this Guaranty.

    

    “Financial
      Information”
shall
      have the meaning set forth in Section 3(d) of this Guaranty.

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Guaranty”
means
      this Guaranty Agreement, as the same may be amended, supplemented or otherwise
      modified from time to time.

    

    “Guarantors”
shall
      have the meaning set forth in the Preamble of this Guaranty.

    

    “Lender”
shall
      have the meaning set forth in the Preamble of this Guaranty.

    

    “Loan
      Agreement”
shall
      have the meaning set forth in the Recitals of this Guaranty.

    

    “Note”
shall
      have the meaning set forth in the Recitals of this Guaranty.

    

    “Obligations”
means
      the collective reference to all obligations and undertakings of the Company
      of
      whatever nature, monetary or otherwise, under the Note,
      the
      Loan Agreement, the Security Agreement, the other Transaction Documents or
      any
      other future agreement or obligations undertaken by the Company to the Lender,
      together with all reasonable attorneys’ fees, disbursements and all other costs
      and expenses of collection incurred by Lender in enforcing any of such
      Obligations and/or this Guaranty. 

    

    “Material
      Adverse Effect”
means
      (x) the adverse effect on the legality, validity or enforceability of this
      Guaranty in any material respect, (y) a material adverse effect on the financial
      condition of the Guarantor, or (z) the adverse impairment in any material
      respect of the Guarantor's ability to perform fully on a timely basis its
      obligations under this Guaranty.

     

    2.  Guaranty.

    

    (a)  Guaranty.

    

    	(i)  	
            The
              Guarantors hereby, jointly and severally, unconditionally and irrevocably,
              guarantee to the Lender and its respective successors, indorsees,
              transferees and assigns, the prompt and complete payment and performance
              by the Company when due (whether at the stated maturity, by acceleration
              or otherwise) of the Obligations. 

          

    

    	(ii)  	
            Anything
              herein or in any other Transaction Document to the contrary
              notwithstanding, the maximum liability of each Guarantor hereunder
              and
              under the other Transaction Documents shall in no event exceed the
              amount
              which can be guaranteed by such Guarantor under applicable federal
              and
              state laws, including laws relating to the insolvency of debtors,
              fraudulent conveyance or transfer or laws affecting the rights of
              creditors generally (after giving effect to the right of contribution
              established in Section 2(b)). 

          

     

     

    
      
         

      

      
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          of 14

        
          

        

      

      
         

      

    

    
 

    	(iii)  	
            Each
              Guarantor agrees that the Obligations may at any time and from time
              to
              time exceed the amount of the liability of such Guarantor hereunder
              without impairing the guarantee contained in this Section 2 or affecting
              the rights and remedies of the Lender
              hereunder.

          

    

    	(iv)  	
            The
              guarantee contained in this Section 2 shall remain in full force and
              effect until all the Obligations and the obligations of each Guarantor
              under the guarantee contained in this Section 2 shall have been satisfied
              by payment in full. 

          

    

    	(v)  	
            No
              payment made by the Company, any of the Guarantors, any other guarantor
              or
              any other Person or received or collected by the Lender from the Company,
              any of the Guarantors, any other guarantor or any other Person by virtue
              of any action or proceeding or any set-off or appropriation or application
              at any time or from time to time in reduction of or in payment of the
              Obligations shall be deemed to modify, reduce, release or otherwise
              affect
              the liability of any Guarantor hereunder which shall, notwithstanding
              any
              such payment (other than any payment made by such Guarantor in respect
              of
              the Obligations or any payment received or collected from such Guarantor
              in respect of the Obligations), remain liable for the Obligations up
              to
              the maximum liability of such Guarantor hereunder until the Obligations
              are paid in full.

          

    

    	(vi)  	
            Notwithstanding
              anything to the contrary in this Guaranty, with respect to any defaulted
              non-monetary Obligations the specific performance of which by the
              Guarantors is not reasonably possible, the Guarantors shall only be
              liable
              for making the Lender whole on a monetary basis for the Company's failure
              to perform such Obligations in accordance with the Transaction Documents.
              

          

    

    

    (b)  Right
      of Contribution.
      Each
      Guarantor hereby agrees that, to the extent that a Guarantor shall have paid
      more than its proportionate share of any payment made hereunder, such Guarantor
      shall be entitled to seek and receive contribution from and against any other
      Guarantor hereunder which has not paid its proportionate share of such payment.
      Each Guarantor's right of contribution shall be subject to the terms and
      conditions of Section 2(c). The provisions of this Section 2(b) shall in no
      respect limit the obligations and liabilities of any Guarantor to the Lender,
      and each Guarantor shall remain liable to the Lender for the full amount
      guaranteed by such Guarantor hereunder.

     

    
      
         

      

      
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    (c)  No
      Subrogation.
      Notwithstanding any payment made by any Guarantor hereunder or any set-off
      or
      application of funds of any Guarantor by the Lender, no Guarantor shall be
      entitled to be subrogated to any of the rights of the Lender against the Company
      or any other Guarantor or any collateral security or guarantee or right of
      offset held by the Lender for the payment of the Obligations, nor shall any
      Guarantor seek or be entitled to seek any contribution or reimbursement from
      the
      Company or any other Guarantor in respect of payments made by such Guarantor
      hereunder, until all amounts owing to the Lender by the Company on account
      of
      the Obligations are paid in full. If any amount shall be paid to any Guarantor
      on account of such subrogation rights at any time when all of the Obligations
      shall not have been paid in full, such amount shall be held by such Guarantor
      in
      trust for the Lender, segregated from other funds of such Guarantor, and shall,
      forthwith upon receipt by such Guarantor, be turned over to the Lender in the
      exact form received by such Guarantor (duly indorsed by such Guarantor to the
      Lender if required), to be applied against the Obligations, whether matured
      or
      unmatured, in such order as the Lender may determine.

    

    (d)  Amendments,
      Etc. With Respect to the Obligations.
      Each
      Guarantor shall remain obligated hereunder notwithstanding that, without any
      reservation of rights against any Guarantor and without notice to or further
      assent by any Guarantor, any demand for payment of any of the Obligations made
      by the Lender may be rescinded by the Lender and any of the Obligations
      continued, and the Obligations, or the liability of any other Person upon or
      for
      any part thereof, or any collateral security or guarantee therefor or right
      of
      offset with respect thereto, may, from time to time, in whole or in part, be
      renewed, extended, amended, modified, accelerated, compromised, waived,
      surrendered or released by the Lender, and the Loan Agreement and the other
      Transaction Documents and any other documents executed and delivered in
      connection therewith may be amended, modified, supplemented or terminated,
      in
      whole or in part, as the Lender may deem advisable from time to time, and any
      collateral security, guarantee or right of offset at any time held by the Lender
      for the payment of the Obligations may be sold, exchanged, waived, surrendered
      or released. The Lender shall have no obligation to protect, secure, perfect
      or
      insure any Lien at any time held by them as security for the Obligations or
      for
      the guarantee contained in this Section 2 or any property subject thereto.
      

    

    (e)  Guaranty
      Absolute and Unconditional.
      Each
      Guarantor waives any and all notice of the creation, renewal, extension or
      accrual of any of the Obligations and notice of or proof of reliance by the
      Lender upon the guarantee contained in this Section 2 or acceptance of the
      guarantee contained in this Section 2; the Obligations, and any of them, shall
      conclusively be deemed to have been created, contracted or incurred, or renewed,
      extended, amended or waived, in reliance upon the guarantee contained in this
      Section 2; and all dealings between the Company and any of the Guarantors,
      on
      the one hand, and the Lender, on the other hand, likewise shall be conclusively
      presumed to have been had or consummated in reliance upon the guarantee
      contained in this Section 2. Each Guarantor waives to the extent permitted
      by
      law diligence, presentment,
      protest, demand for payment and notice of default or nonpayment to or upon
      the
      Company or any of the Guarantors with respect to the Obligations. Each Guarantor
      understands and agrees that the guarantee contained in this Section 2 shall
      be
      construed as a continuing, absolute and unconditional guarantee of payment
      without regard to (a) the validity or enforceability of the Loan Agreement
      or
      any other Transaction Document, any of the Obligations or any other collateral
      security therefor or guarantee or right of offset with respect thereto at any
      time or from time to time held by the Lender, (b) any defense, set-off or
      counterclaim (other than a defense of payment or performance or fraud or
      misconduct by Lender) which may at any time be available to or be asserted
      by
      the Company or any other Person against the Lender, or (c) any other
      circumstance whatsoever (with or without notice to or knowledge of the Company
      or such Guarantor) which constitutes, or might be construed to constitute,
      an
      equitable or legal discharge of the Company for the Obligations, or of such
      Guarantor under the guarantee contained in this Section 2, in bankruptcy or
      in
      any other instance. When making any demand hereunder or otherwise pursuing
      its
      rights and remedies hereunder against any Guarantor, the Lender may, but shall
      be under no obligation to, make a similar demand on or otherwise pursue such
      rights and remedies as it may have against the Company, any other Guarantor
      or
      any other Person or against any collateral security or guarantee for the
      Obligations or any right of offset with respect thereto, and any failure by
      the
      Lender to make any such demand, to pursue such other rights or remedies or
      to
      collect any payments from the Company, any other Guarantor or any other Person
      or to realize upon any such collateral security or guarantee or to exercise
      any
      such right of offset, or any release of the Company, any other Guarantor or
      any
      other Person or any such collateral security, guarantee or right of offset,
      shall not relieve any Guarantor of any obligation or liability hereunder, and
      shall not impair or affect the rights and remedies, whether express, implied
      or
      available as a matter of law, of the Lender against any Guarantor. For the
      purposes hereof, "demand" shall include the commencement and continuance of
      any
      legal proceedings.

     

     

    
      
         

      

      
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    (f)  Reinstatement.
      The
      guarantee contained in this Section 2 shall continue to be effective, or be
      reinstated, as the case may be, if at any time payment, or any part thereof,
      of
      any of the Obligations is rescinded or must otherwise be restored or returned
      by
      the Lender upon the insolvency, bankruptcy, dissolution, liquidation or
      reorganization of the Company or any Guarantor, or upon or as a result of the
      appointment of a receiver, intervenor or conservator of, or trustee or similar
      officer for, the Company or any Guarantor or any substantial part of its
      property, or otherwise, all as though such payments had not been
      made.

     

     

    
      
         

      

      
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          of 14

        
          

        

      

      
         

      

    

     

    (g)  Payments.
      Each
      Guarantor hereby guarantees that payments hereunder will be paid to the Lender
      without set-off or counterclaim in U.S. dollars at the address set forth or
      referred to in the Loan Agreement.

    

    3.  Representations
      and Warranties.
      Each
      Guarantor hereby makes the following representations and warranties to Lender
      as
      of the date hereof:

     

    (a)  Authorization;
      Enforcement.
      The
      Guarantor has the legal capacity and right to enter into and to consummate
      the
      transactions contemplated by this Guaranty, and otherwise to carry out its
      obligations hereunder. This Guaranty has been duly executed and delivered by
      the
      Guarantor and constitutes the valid and binding obligation of the Guarantor
      enforceable against the Guarantor in accordance with its terms.

    

    (b)  No
      Conflicts.
      The
      execution, delivery and performance of this Guaranty by the Guarantor and the
      consummation by the Guarantor of the transactions contemplated thereby do not
      and will not (i) conflict with, constitute a default (or an event which with
      notice or lapse of time or both would become a default) under, or give to others
      any rights of termination, amendment, acceleration or cancellation of, any
      agreement, indenture or instrument to which the Guarantor is a party, or (ii)
      result in a violation of any law, rule, regulation, order, judgment, injunction,
      decree or other restriction of any court or governmental authority to which
      the
      Guarantor is subject (including Federal and state securities laws and
      regulations) or by which any property or asset of the Guarantor is bound or
      affected. The business of the Guarantor is not being conducted in violation
      of
      any law, ordinance or regulation of any governmental authority, except for
      violations which, individually or in the aggregate, do not have a Material
      Adverse Effect.

     

    (c)  Consents
      and Approvals.
      The
      Guarantor is not required to obtain any consent, waiver, authorization or order
      of, or make any filing or registration with, any court or other federal, state,
      local, foreign or other governmental authority or other person in connection
      with the execution, delivery and performance by the Guarantor of this
      Guaranty.

    

    (d)  Financial
      Condition.
      The Guarantor has furnished to the Lender the following financial information:
      a
      statement of personal assets (“Financial
      Information”).
      The Financial Information was prepared in accordance with sound accounting
      principles applied on a basis consistently maintained throughout the period
      involved and prior periods and fairly presents the financial condition of
      Guarantor as of such date.

     

     

    
      
         

      

      
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    (e)  Material
      Changes.
      The has been no material adverse change in the business prospects, assets,
      liabilities, operations, or financial condition of the Guarantor, since the
      date
      of the last Financial Information previously delivered to
      Lender.

    

    (f)  Litigation.
      There
      is no action, litigation, suit, inquiry, notice of violation, proceeding or
      investigation pending or, to the knowledge of the Guarantor, threatened against
      or affecting the Guarantor, or any of its properties before or by any court,
      arbitrator, governmental or administrative agency or regulatory authority
      (federal, state, county, local or foreign) (collectively, an “Action”)
      which
      (i) adversely affects or challenges the legality, validity or enforceability
      of
      any of the Guaranty or the Loan Agreement or (ii) could, if there were an
      unfavorable decision, have or reasonably be expected to result in a Material
      Adverse Effect. The Guarantor has not been the subject of any Action involving
      a
      claim of violation of or liability under federal or state securities laws
      .

    

    (g)  Compliance.
      The
      Guarantor (i) is not in default under or in violation of (and no event has
      occurred that has not been waived that, with notice or lapse of time or both,
      would result in a default by the Guarantor under), nor has the Guarantor
      received notice of a claim that it is in default under or that it is in
      violation of, any indenture, loan or credit agreement or any other agreement
      or
      instrument to which it is a party or by which it or any of its assets or
      properties is bound (whether or not such default or violation has been waived),
      (ii) is not in violation of any order of any court, arbitrator or governmental
      body to which the Guarantor is subject or by which it or any of its assets
      or
      properties is bound, and (iii) is not and has not been in violation of any
      statute, rule or regulation of any governmental authority, including without
      limitation all foreign, federal, state and local laws.

    

    (h)  Title
      to Assets.
      The
      Guarantor has good and marketable title in fee simple to all real property
      it
      owns and marketable title in all personal property it owns, in each case free
      and clear of all liens, except for liens as do not materially affect the value
      of such property and do not materially interfere with the use made and proposed
      to be made of such property by the Guarantor and liens for the payment of
      federal, state or other taxes, the payment of which is neither delinquent nor
      subject to penalties. Any real property and facilities held under lease by
      the
      Guarantor are held under valid, subsisting and enforceable leases of which
      the
      Guarantor is in compliance.

    

    (i)  Solvency.
      The
      Guarantor has no knowledge of any facts or circumstances which lead it to
      believe that it will file for bankruptcy under the bankruptcy laws of any
      jurisdiction within 7 year[s] from the date of this Guaranty. 

    

    (j)  Tax
      Status.
      Except
      for matters that would not, individually or in the aggregate, have or reasonably
      be expected to result in a Material Adverse Effect, the Guarantor has filed
      all
      necessary federal, state and foreign income tax returns and has paid or accrued
      all taxes shown as due thereon, and the Guarantor has no knowledge of a tax
      deficiency which has been asserted or threatened against it.

     

    
      
         

      

      
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    4.  Covenants.
      Each
      Guarantor covenants and agrees with the Lender that, from and after the date
      of
      this Guaranty until the Obligations shall have been paid in full, such Guarantor
      shall take, and/or shall refrain from taking, as the case may be, each
      commercially reasonable action (including complying with all of the obligations
      in Section 4 of the Note) that is necessary to be taken or not taken, as the
      case may be, so that no Event of Default is caused by the failure to take such
      action or to refrain from taking such action by such Guarantor. 

     

    5.  Miscellaneous.

    

    (a)  Amendments
      in Writing.
      None of
      the terms or provisions of this Guaranty may be waived, amended, supplemented
      or
      otherwise modified except in writing by the majority in interest (based on
      the
      then-outstanding principal amount of the Note at the time of such determination)
      of the Lender.

     

    (b)  Notices.
      All
      notices, requests and demands to or upon the Lender or any Guarantor hereunder
      shall be effected in the manner provided for in the Loan Agreement; provided
      that any
      such notice, request or demand to or upon any Guarantor shall be addressed
      to
      such Guarantor at its notice address set forth on Schedule 5(b).

    

    (c)  No
      Waiver By Course Of Conduct; Cumulative Remedies.
      The
      Lender shall not by any act (except by a written instrument pursuant to Section
      5(a)), delay, indulgence, omission or otherwise be deemed to have waived any
      right or remedy hereunder or to have acquiesced in any default under the
      Transaction Documents or Event of Default. No failure to exercise, nor any
      delay
      in exercising, on the part of the Lender, any right, power or privilege
      hereunder shall operate as a waiver thereof. No single or partial exercise
      of
      any right, power or privilege hereunder shall preclude any other or further
      exercise thereof or the exercise of any other right, power or privilege. A
      waiver by the Lender of any right or remedy hereunder on any one occasion shall
      not be construed as a bar to any right or remedy which the Lender would
      otherwise have on any future occasion. The rights and remedies herein provided
      are cumulative, may be exercised singly or concurrently and are not exclusive
      of
      any other rights or remedies provided by law.

     

     

    
      
         

      

      
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    (d)  Enforcement
      Expenses;
      Indemnification.

    

    	(i)  	
            Each
              Guarantor agrees to pay, or reimburse the Lender for, all its costs
              and
              expenses incurred in collecting against such Guarantor under the guarantee
              contained in Section 2 or otherwise enforcing or preserving any rights
              under this Guaranty and the other Transaction Documents to which such
              Guarantor is a party, including, without limitation, the reasonable
              fees
              and disbursements of counsel to the
              Lender.

          

    

    	(ii)  	
            Each
              Guarantor agrees to pay, and to save the Lender harmless from, any
              and all
              liabilities with respect to, or resulting from any delay in paying,
              any
              and all stamp, excise, sales or other taxes which may be payable or
              determined to be payable in connection with any of the transactions
              contemplated by this Guaranty.

          

    

    	(iii)  	
            Each
              Guarantor agrees to pay, and to save the Lender harmless from, any
              and all
              liabilities, obligations, losses, damages, penalties, actions, judgments,
              suits, costs, expenses or disbursements of any kind or nature whatsoever
              with respect to the execution, delivery, enforcement, performance and
              administration of this Guaranty to the extent the Company would be
              required to do so pursuant to the Loan
              Agreement.

          

    

    	(iv)  	
            The
              agreements in this Section shall survive repayment of the Obligations
              and
              all other amounts payable under the Loan Agreement and the other
              Transaction Documents. 

          

    

    (e)  Successor
      and Assigns.
      This
      Guaranty shall be binding upon the successors and permitted assigns of each
      Guarantor and shall inure to the benefit of the Lender and its respective
      successors and assigns; provided that no Guarantor may assign, transfer or
      delegate any of its rights or obligations under this Guaranty without the prior
      written consent of the Lender.

    

    (f)  Set-Off.
      Each
      Guarantor hereby irrevocably authorizes the Lender at any time and from time
      to
      time while an Event of Default under any of the Transaction Documents shall
      have
      occurred and be continuing, without notice to such Guarantor or any other
      Guarantor, any such notice being expressly waived by each Guarantor, to set-off
      and appropriate and apply any and all deposits, credits, indebtedness or claims,
      in any currency, in each case whether direct or indirect, absolute or
      contingent, matured or unmatured, at any time held or owing by the Lender to
      or
      for the credit or the account of such Guarantor, or any part thereof in such
      amounts as the Lender may elect, against and on account of the obligations
      and
      liabilities of such Guarantor to the Lender hereunder and claims of every nature
      and description of the Lender against such Guarantor, in any currency, whether
      arising hereunder, under the Loan Agreement, any other Transaction Document
      or
      otherwise, as the Lender may elect, whether or not the Lender has made any
      demand for payment and although such obligations, liabilities and claims may
      be
      contingent or unmatured. The Lender shall notify such Guarantor promptly of
      any
      such set-off and the application made by the Lender of the proceeds thereof,
      provided that the failure to give such notice shall not affect the validity
      of
      such set-off and application. The rights of the Lender under this Section are
      in
      addition to other rights and remedies (including, without limitation, other
      rights of set-off) which the Lender may have.

     

     

    
      
         

      

      
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    (g)  Counterparts.
      This
      Guaranty may be executed by one or more of the parties to this Guaranty on
      any
      number of separate counterparts (including by telecopy), and all of said
      counterparts taken together shall be deemed to constitute one and the same
      instrument. 

    

    (h)  Severability.
      Any
      provision of this Guaranty which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction. 

    

    (i)  Section
      Headings.
      The
      Section headings used in this Guaranty are for convenience of reference only
      and
      are not to affect the construction hereof or be taken into consideration in
      the
      interpretation hereof.

    

    (j)  Integration.
      This
      Guaranty and the other Transaction Documents represent the agreement of the
      Guarantors and the Lender with respect to the subject matter hereof and thereof,
      and there are no promises, undertakings, representations or warranties by the
      Lender relative to subject matter hereof and thereof not expressly set forth
      or
      referred to herein or in the other Transaction Documents.

    

    (k)  Governing
      Law.
      THIS
      GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
      WITH,
      THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS
      OF LAWS. 

    

    (l)  Submission
      to Jurisdictional; Waiver.
      Each
      Guarantor hereby

    irrevocably
      and unconditionally:

    

    	(i)  	
            submits
              for itself and its property in any legal action or proceeding relating
              to
              this Guaranty and the other Transaction Documents to which it is a
              party,
              or for recognition and enforcement of any judgment in respect thereof,
              to
              the exclusive general jurisdiction of the Courts of the State of New
              York,
              located in New York County, New York, the courts of the United States
              of
              America for the Southern District of New York, and appellate courts
              from
              any thereof; 

          

     

     

    
      
         

      

      
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    	(ii)  	
            consents
              that any such action or proceeding may be brought in such courts and
              waives any objection that it may now or hereafter have to the venue
              of any
              such action or proceeding in any such court or that such action or
              proceeding was brought in an inconvenient court and agrees not to plead
              or
              claim the same; 

          

    

    	(iii)  	
            agrees
              that service of process in any such action or proceeding may be effected
              by mailing a copy thereof by registered or certified mail (or any
              substantially similar form of mail), postage prepaid, to such Guarantor
              at
              its address referred to in the Loan Agreement or at such other address
              of
              which the Lender shall have been notified pursuant
              thereto;

          

    

    	(iv)  	
            agrees
              that nothing herein shall affect the right to effect service of process
              in
              any other manner permitted by law or shall limit the right to sue in
              any
              other jurisdiction; and 

          

    

    	(v)  	
            waives,
              to the maximum extent not prohibited by law, any right it may have
              to
              claim or recover in any legal action or proceeding referred to in this
              Section any special, exemplary, punitive or consequential damages.
              

          

    

    (m)  Acknowledgements.
      Each
      Guarantor hereby acknowledges that:

    

    	(i)  	
            it
              has been advised by counsel in the negotiation, execution and delivery
              of
              this Guaranty and the other Transaction Documents to which it is a
              party;
              

          

    

    	(ii)  	
            the
              Lender has no fiduciary relationship with or duty to any Guarantor
              arising
              out of or in connection with this Guaranty or any of the other Transaction
              Documents, and the relationship between the Guarantors, on the one
              hand,
              and the Lender, on the other hand, in connection herewith or therewith
              is
              solely that of debtor and creditor; and 

          

    

    	(iii)  	
            no
              joint venture is created hereby or by the other Transaction Documents
              or
              otherwise exists by virtue of the transactions contemplated hereby
              among
              the Guarantors and the Lender. 

          

     

     

    
      
         

      

      
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    (n)  Release
      of Guarantors.
      Subject
      to Section 2(f), each Guarantor will be released from all liability hereunder
      concurrently with the repayment in full of all amounts owed under the Loan
      Agreement, the Note and the other Transaction Documents. 

    

    (o)  Seniority.
      The
      Obligations of each of the Guarantors hereunder rank senior in priority to
      any
      other debt of such Guarantor. 

    

    (p)  Waiver
      of Jury Trial.
      EACH
      GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE LENDER, HEREBY
      IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR
      PROCEEDING RELATING TO THIS GUARANTY AND FOR ANY COUNTERCLAIM
      THEREIN.

    
      
         

      

      
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    IN
      WITNESS WHEREOF, the undersigned has caused this Guaranty to
      be
      duly executed and delivered as of the date first above written.

    

    

    
      
        

      

    

    CHRISTOPHER
      J. MCCAULEY

     

    
      
         

      

      
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    SCHEDULE
      5(b)

    

    GUARANTORS

    

    The
      following are the names and notice addresses of each Guarantor.

    

    
      	
              NAME

            	 	
              ADDRESS

            
	
              KAMAL
                ABDALLAH

            	 	
              8
                Links Green, San Antonio, TX 78257

            
	
              CHRISTOPHER
                J. MCCAULEY

            	 	
              5408
                Valley Pkwy., Brecksville, OH 44141

            

    

    

    
      
         

      

      
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