EXHIBIT 10.2
▇▇▇▇ DEERE
AGRICULTURAL
DEALER AGREEMENT
Dealer RDO Equipment Co.
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Town
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State
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▇▇▇▇ DEERE COMPANY
AUTHORIZED AGRICULTURAL DEALER
AGREEMENT
The Dealer whose signature appears on the last page hereby applies to the
undersigned ▇▇▇▇ Deere Company (the "Company") for appointment as a ▇▇▇▇
Deere Authorized Agricultural Dealer for its Agricultural Line, and agrees
that the relationship between him and the Company will be governed by the
Terms of Appointment on the succeeding pages of this booklet. When it
executes this Agreement, the Company accepts the Dealer's application and
also agrees to be bound by the Terms of Appointment. This Agreement shall be
effective upon execution by the Company and shall as of that date supersede
any prior Agricultural Dealer Agreement between the parties hereto.
The Company distributes certain ▇▇▇▇ Deere agricultural machines and
equipment, certain of its JDM and certain allied agricultural machines, which
together are classified by the Company as its Agricultural Line. These items,
and attachments and service parts for them, are collectively referred to as
"Goods." While the Company also distributes other types of equipment, this
Agreement pertains only to Goods. The Dealer is an independent retail
merchant who purchases Goods for resale for the principal benefit of the
Dealer. It is agreed that except as otherwise provided herein, individual
orders, sales and shipments of Goods are governed by the Company's published
Conditions of Sale in effect from time to time.
The Dealer accepts as his area of responsibility the town in which his place
of business is located and vicinity.
TERMS OF APPOINTMENT / 1
TERMS OF APPOINTMENT
1. OBLIGATIONS OF THE PARTIES
During the period of the Dealers' appointment as a ▇▇▇▇ Deere Authorized
Agricultural Dealer, the parties accept the following obligations and duties.
(a) The Company agrees to accept orders placed by the Dealer for Goods which
the Company contemplates will be shipped during the period of appointment,
subject to the Company's Conditions of Sale. Even though an order has been
accepted, the Company has the right to refuse to ship Goods and shall have no
liability to the Dealer for such refusal or for any delay or other failure to
ship or deliver Goods as provided in the Conditions of Sale or Section 4
hereof.
(b) The Company agrees that the Dealer will have the benefit of any Finance
Plans, Lease Plans, Floor Plans, Parts Return Programs. Sales or Incentive
Programs or similar plans or programs which it, from time to time, makes
available to other Authorized Agricultural Dealers. Such plans or programs
may contain standards, conditions or requirements of uniform application
which the Dealer must meet in order to use or benefit from them. State or
local laws or regulations may require variations from standard plans or
programs.
(c) Without limiting the right of the Company to choose those with whom it
deals, the Company may sell, loan or lease Goods as follows without restriction:
(i) To Federal, state and local governments.
(ii) To educational institutions and agricultural experiment stations.
(iii) To its competitors (for test purposes).
(iv) To equipment manufacturers.
(v) To its own employees.
(vi) Repossessed Goods (new or used)
(vii) To accounts classified by the Company as national accounts.
(d) The Dealer agrees to use his best efforts to promote, sell and service
Goods. The Dealer further agrees to achieve sales objectives and market
penetration within Dealer's Area of Responsibility satisfactory to the
Company and will maintain:
(i) A place of business approved by the Company, with adequate space
and facilities devoted to sales, service, display and storage of
Goods, with appropriate identification for a Dealer selling Goods;
(ii) Competent management and a sufficient staff of well trained
personnel devoted to the sale and service of Goods and will
cooperate with the Company by sending such personnel to
conferences and training schools provided by the Company;
(iii) Adequate working capital and capitalization;
(iv) Service equipment, an adequate stock of service parts and those
appropriate special tools necessary to promptly fulfill the
warranty obligations of both the Dealer and the Company, product
improvement programs and the non-warranty service needs of users
of Goods in his Area of Responsibility.
(e) The purpose of the Dealer's obligations provided for in Section 1 (d) is
to assure that best efforts and adequate resources are being committed to the
sale of Goods and to the performance of this Agreement. If the Dealer
undertakes to carry another major product line or engage in another major
business activity, either of which involves an important commitment of effort
and resources, the Dealer agrees to make such separation of the personnel,
facilities, capital and other resources devoted to that business as is
satisfactory to the Company.
(f) The Dealer agrees to thoroughly canvass his area of responsibility, to
actively promote the sale of all Goods which are usable in his area of
responsibility, and to maintain an inventory of Goods in proportion to the
sales possibilities in such area.
(g) The Dealer agrees to cooperate with the Company in implementing those
programs recommended by the Company with respect to sales, service and parts
promotion, advertising, record keeping, and parts management which the Dealer
agrees will be beneficial to his operations.
TERMS OF APPOINTMENT / 2
(h) The Dealer agrees to participate in the Company's Transfer and
Reaquisition Program described in the Dealers Terms Schedule. The Dealer
acknowledges that the intent of this program, and his participation in it
from time to time, is to facilitate overall dealer retail sales and to assist
in maintaining dealer inventories and the Company's receivables at reasonable
levels and that each such effect is to the mutual benefit of the Dealer and
the Company.
(i) In order that a satisfactory level of dealer performance may be obtained,
the Dealer agrees to cooperate with the Company in periodic reviews of the
performance of his obligations under this Agreement and to take appropriate
action to correct deficiencies discussed in such reviews.
(j) The Dealer agrees to maintain his principal place of business at the
location set forth on the signature page of this Agreement, and will not,
either directly or indirectly, establish, maintain, or operate a facility at
any other location for displaying, selling, renting, leasing, or servicing of
new or used goods, without the prior written approval of the Company.
2. IMMEDIATE CANCELLATION FOR CAUSE
While it is the hope and expectation of the parties that this Agreement will
create a mutually profitable and satisfactory relationship, the success of an
equipment dealership depends to a substantial degree on the ability, energy
and integrity of the individual or group of associates who operate it.
Adequate financial resources are also essential. The Company may, therefore,
immediately cancel the Dealer's appointment by giving notice to the Dealer at
any time after the happening of any of the following:
(a) Death of an individual proprietor, partner, major shareholder, or the
manager of the dealership;
(b) Withdrawal of an individual proprietor, partner, major shareholder, or
the manager of the dealership or a substantial reduction in interest of a
partner or major shareholder, without the prior written consent of the
Company;
(c) Closeout or sale of a substantial part of the Dealer's business related
to the handling of Goods, the commencement of dissolution or liquidation of
the Dealer if a partnership or corporation, or a change, without the prior
written approval of the Company, in the location of the Dealer's principal
place of business under this Agreement;
(d) Default by the Dealer under any Chattel Mortgage or other Security
Agreement between the Dealer and the Company;
(e) Revocation or discontinuance of any guaranty of the Dealer's present or
future obligations to the Company.
The Dealer shall promptly notify the Company in writing of the occurrence of
any of the events enumerated in Subsection (a) or (b).
3. TERMINATION ON SPECIFIED DATE
Unless the Dealer's appointment is canceled under Section 2, it shall
continue until it is terminated by one or both of the parties as provided in
this Section 3. The Dealer's appointment may be terminated at any time:
(a) by the mutual written consent of the parties, with the effective date of
such termination to be such as may be mutually agreed upon; or
(b) by written notice given by the Company to the Dealer at least one
hundred eighty (180) days prior to the effective date specified in such
notice if the Company determines that the Dealer's area of responsibility
does not afford sufficient sales potential to continue to reasonably support
an authorized dealer or if the Company believes the Dealer is not fulfilling
the requirements of his appointment despite the opportunity to correct or to
take appropriate action toward correcting deficiencies in his operations
which have been called to his attention by the Company; or
(c) by written notice given by the Dealer to the Company at least one
hundred eighty (180) days prior to the effective date specified in such
notice; or
(d) by the execution of a new Authorized Dealer Agreement between the
parties which is intended to supersede this Agreement, or by the Dealer's
failure to execute a new Authorized Dealer Agreement within 30 days after it
has been offered by the Company.
TERMS OF APPOINTMENT / 3
4. EFFECT OF CANCELLATION OR TERMINATION OF APPOINTMENT
Cancellation of the Dealer's appointment under Section 2, or termination of
such appointment under Section 3, means that the obligations and duties of
the parties under Section 1 no longer apply. In either event, the Company may
refuse to fill accepted orders which have not been shipped at the time of
such cancellation or termination. The Company may, but shall not be obligated
to, accept orders for Goods which the Company contemplates will be shipped
after the cancellation or the effective date of termination of the Dealer's
appointment. Acceptance, shipment and terms applicable to such accepted
orders will be subject to the Conditions of Sale then in effect. Submission
or acceptance of orders and shipment or acceptance of goods does not have the
effect of renewing or reinstating the obligations of Section 1 and shall not
be construed as an extension or renewal of the period of appointment or as a
recision of any notice of cancellation or termination. If the Dealer's period
of appointment is canceled or terminated and no new Authorized Dealer
Agreement is entered into, neither party shall be entitled to any
compensation or reimbursement for loss of prospective profits, anticipated
sales or other losses occasioned by the termination of the relationship,
except as provided in this Agreement. If the Dealer's appointment is canceled
or terminated, the Company may negotiate and/or enter a Dealer Agreement with
another party for the Dealer's area of responsibility.
5. DEATH OF DEALER: COOPERATION WITH SURVIVORS
If the Dealer's appointment is canceled because of the death of one of the
persons enumerated in Section 2(a), it is agreed:
(a) That in order to facilitate orderly settlement of the estate of the
deceased and allow the heirs and/or surviving associates (partners or
shareholders) of the deceased who have or will obtain a controlling interest
in the dealership to rearrange their affairs and determine whether they wish
to liquidate or to continue to operate the dealership, the Company will, for
a period of at least 180 days after such death, be willing to make shipments
of orders previously received and accept new orders from the Dealer
corporation or Dealer's estate and/or surviving partners, as the case may be.
The Company's obligations under this Section to accept orders and make
shipment shall be subject to the provisions of Section 1(a) and the Company's
Conditions of Sale then in effect. Such obligations are also subject to the
Company's being satisfied that the person executing any new order is legally
authorized to do so and that, with regard to the new order or the shipment,
the Dealer corporation or Dealer's estate and/or surviving partners are
legally bound by these Terms of Appointment, the Conditions of Sale, the
Chattel Mortgage or the Security Agreement executed by the Dealer and any
filed Financing Statements executed in connection therewith.
(b) That if such heirs and/or surviving associates wish to continue
operating the dealership, the Company will cooperate with them in their
effort to arrange to do so, and will offer to execute a new Dealer Agreement
with the Dealer corporation or the heirs (or the Dealer's estate, if
appropriate due to anticipated length of administration) and/or the surviving
partners if it believes them to be capable of carrying out the obligations
thereunder, and if the Company believes that the area of responsibility
assigned to the Dealer affords sufficient sales potential to continue to
support an authorized Dealer. The Company will inform the heirs and/or
surviving associates in writing as promptly as possible as to whether or not
the Company elects to offer a new Dealer Agreement to them, and if the
Company so elects, the major conditions, including credit or financial
conditions, if any, under which the Company would deem them capable of
carrying out the obligations of the Dealer
TERMS OF APPOINTMENT / 4
Agreement. Any written commitment by the Company to the Dealer which
identifies the person(s) who will be acceptable to the Company to operate
the dealership will be honored by the Company, provided the conditions set
forth herein and any other major conditions specified by the Company are met.
(c) That the Company shall have discharged its obligations under Subsections
(a) and (b) any may discontinue shipments to the Dealer corporation, Dealer's
estate, or surviving partners, as the case may be, under any of the following
conditions:
(i) The Company informs the Dealer corporation or the heirs and/or
surviving partners of the deceased in writing (by notification
sent to the Dealer corporation, the Dealer's estate, the heirs,
or one of the surviving partners, as is appropriate in the
circumstances) that it will not execute a new Dealer Agreement and
180 days shall have elapsed since such death.
(ii) The Company receives written notification that the Dealer
corporation or the heirs and/or surviving partners of the deceased
do not wish to enter into a new Dealer Agreement.
(iii) The heirs and/or surviving associates of the deceased cannot
agree on appropriate arrangements for carrying on the business.
(iv) Any of the events enumerated in Subsections (d) and (e) of
Section 2 has occurred or shall occur.
6. REPURCHASE OF GOODS
If any of the following events occur, the Company agrees to buy and the
Dealer agrees to sell Goods as provided in Section 7:
(a) The Dealer's appointment is canceled under Section 2 (and in the case of
cancellation because of death of one of the persons enumerated in Section
2(a), one of the conditions enumerated in Section 5(c) has occurred).
(b) The Dealer's appointment is terminated under Section 3(a), 3(b) or 3(c);
or
(c) The Dealer has not executed a new Authorized Dealer Agreement within 30
days after it has been offered by the Company.
The Company shall be relieved of this obligation if a default occurs or has
occurred under any Chattel Mortgage or Security Agreement between the Company
and the Dealer, and the Company elects to exercise its rights under such
Chattel Mortgage or Security Agreement to take possession of Goods.
7. TERMS OF REPURCHASE
Except where otherwise provided by the laws of the state where the Dealer is
located, if the Company becomes obligated to repurchase Goods under Section
6, then the Company will buy and the Dealer will sell (or may sell subject to
Subsection (c)) free and clear of all liens and encumbrances the following
Goods, provided they were either originally purchased by the Dealer from the
Company or purchased from other dealers with the written approval of the
Company, and are listed in the Company's published price list for that
category of Goods, in effect on the date of cancellation or termination of
the Dealer's appointment.
(a) All current complete machines and attachments in the Dealer's possession
unsold (which category excludes all items listed in the JDM Price List or the
▇▇▇▇ Deere Parts Price List) which are new, unused, complete and in good
condition. The prices to be paid for such items will be the invoice prices
(but not more than current dealer prices), plus freight from the factory to
the Dealer's location at truckload (24,000#) rates for items on which freight
was paid by the Dealer, less any discounts from invoice price which have been
allowed and less the reduction in value, if any, resulting from deterioration.
(b) All current parts in the Dealer's possession unsold which are new,
unused, in
TERMS OF APPOINTMENT / 5
good condition and are resalable as new parts without repackaging or
reconditioning. The price to be paid for such items will be the current
wholesale price as listed in the ▇▇▇▇ Deere Parts Price List, less a discount
of:
(i) 15% on items on the current returnable list furnished by the
Company under the parts return program; and
(ii) 50% on all other items
(c) Such current JDM products in the Dealer's possession unsold which the
Dealer may elect to sell to the Company and which are new, unused, in good
condition and are resalable as new products without repackaging or
reconditioning. The Company shall have no obligation to repurchase such
products unless the Dealer furnishes the Company with a list of the products
which he wishes to sell to the Company within thirty (30) days after the
effective date of cancellation or termination of his appointment. The price
to be paid for such products will be the current wholesale price listed in
the JDM Price List less a discount of:
(i) 50% on products identified by an asterisk;
(ii) 15% on items listed as returnable under the Company's parts
return policy; and
(iii) 25% on all other JDM products.
At the written request of the Company, the Dealer will list, tag, pack, load
and transport all repurchased Goods to the nearest location regularly
maintained by the Company for the storage of such Goods or to such closer
location as may be designated by the Company or pay for the cost of
transportation to such location. The risk of loss shall be on the Dealer
until the vehicle transporting such Goods reaches the designated destination.
Should the Dealer fail to fulfill the above obligation within 60 days after
he has been requested to do so, the Company may enter the Dealer's premises,
perform these duties and charge the Dealer's account for any expenses
incurred in so doing.
The Company may pay for repurchased Goods in cash or by giving the Dealer
credit to be applied to any indebtedness then owed by the Dealer to the
Company or to any other company having a corporate affiliation with the
Company whether or not such indebtedness is then due and payable. If there is
still a balance owing by the Dealer after the price of the repurchased Goods,
less any Company incurred expenses of recovery, including all reasonable
attorney's fees and legal expenses, has been credited to the Dealer, such
balance shall be immediately due and payable to the Company regardless of the
original terms of payment thereon.
Amounts payable to the Dealer under this Section will not be paid until the
Dealer has complied with all applicable laws governing bulk transfers of
inventory. Any volume discount paid or payable to the Dealer shall be subject
to adjustment, in accordance with the Company's Schedule of Volume Discount
(Agricultural), for Goods repurchased by the Company.
8. PREPARATION OF GOODS, WARRANTY AND POSTDELIVERY SERVICE
(a) The Company's published Service Administration Manual (hereafter called
"Manual") designates ▇▇▇▇ Deere New Equipment Warranties applicable to
various types of sales and some leases of new Goods and to certain used
Goods. As to all transactions specified in the Manual, the Dealer agrees to
extend the designated warranties to retail purchasers and lessees, and to use
retail purchase orders, delivery receipts, lease agreements and other forms
specified in the Manual. The Dealer agrees to be solely responsible for any
warranties given by him to his customers which exceed the warranty provided
by the Company and for any liability in cases where the Dealer has failed to
use the prescribed forms in the manner specified.
(b) The Dealer agrees to properly assemble and prepare all new Goods sold,
leased, or rented by him and shall perform such inspections, adjustments and
service prior to delivery to users as required in the Manual to insure proper
operation of the Goods. The Dealer agrees to instruct users in the proper
use, safe operation, and maintenance of such Goods, to review the warranty
provisions, and
TERMS OF APPOINTMENT / 6
to furnish each user with the appropriate operator's manuals furnished by the
Company. The Dealer will also perform the postdelivery inspections and
adjustments, prescribed in the Manual, on such Goods.
(c) The Dealer agrees and is authorized to perform all warranty service on
new Goods and on used Goods for which the Company becomes obligated pursuant
to the ▇▇▇▇ Deere New Equipment Warranties, including Goods not sold, leased
or rented by him, if presented with proper evidence that the Goods are
entitled to warranty service under the ▇▇▇▇ Deere New Equipment Warranties.
The Dealer shall also perform product improvements on such Goods when
requested to do so by the Company. Warranty service and product improvements
will be performed in the manner and for the compensation specified in the
Manual in effect at the time the service is performed. The Dealer will
notify the Company of all warranty claims in accordance with the Manual.
9. VOLUME DISCOUNT
Subject to the terms and conditions of the Schedule of Volume Discount
(Agricultural) issued by the Company, the Company will pay or credit to the
Dealer on or after 30 November a volume discount computed in accordance with
the Schedule.
10. USE OF TRADEMARKS, NAMES AND SIGNS
The Dealer agrees not to use the names "▇▇▇▇ Deere" or "Deere" or any other
trade names or trademarks owned by the Company or any of its affiliated
corporations as a part of his firm, trading or corporate name, and shall not
display or use such trade names or trademarks except in a form or manner
approved by the Company. The Dealer further agrees that if he ceases to be an
Authorized Dealer, he will remove all signs bearing such trade names and
trademarks used in connection with any business conducted by him and will
remove from his vehicles any distinctive ▇▇▇▇ Deere vehicle identification.
11. MAILING LIST FOR THE FURROW
The Dealer agrees to supply to the Company and keep current as to names and
addresses, a mailing list of all full-time farmers in his area of
responsibility. The Dealer should also include in his mailing list part-time
farmers who have income from other sources, absentee owners, schools,
bankers, agricultural representatives, and others who may influence
agricultural equipment purchases in his area of responsibility. This mailing
list shall become the sole property of the Company and the Company shall have
no liability to the Dealer for any use it makes of such mailing list. The
Dealer authorizes the Company to mail THE FURROW to those on the mailing
list. The Company will furnish THE FURROW (both regular and special editions)
free of charge but the Dealer agrees to reimburse the Company for postage.
The Company shall advise the Dealer in advance of any other use it makes of
such list during the Dealer's period of appointment.
12. DEALER NOT AN AGENT
The Dealer is not an employee, agent or representative of the Company for any
purpose other than giving the Company's warranty as provided in Section 8; he
has no other authority to bind the Company by any representations,
statements, agreements, or in any manner whatsoever. In performing service
work as provided in Section 8, the Dealer is an independent contractor and
assumes full responsibility for such work.
13. AMENDMENT OF AGREEMENT
This Agreement cannot be altered or amended, or any of its provisions waived,
on behalf of the Company except in writing by a duly authorized officer of
the Company. The Company may amend these Terms of Appointment at any time
without the consent of the Dealer if the same amendment is made to the Terms
of Appointment of all other Authorized Agricultural Dealer Agreements with
the Company. Any such amendment shall be effective on the date specified in a
notice mailed to all Authorized Agricultural Dealers, which date shall be at
least one hundred eighty (180) days following the date of such mailing.
14. ASSIGNMENT
This Agreement cannot be assigned by the Dealer without the prior written
consent of the Company.
15. METHOD OF GIVING NOTICE
Without limitation on any other method of giving notice, the deposit of
written notice in the United States mails, in an envelope certified or
registered with postage prepaid and addressed to the Dealer at the address
shown herein, or to the
TERMS OF APPOINTMENT / 7
Company at the office designated herein, shall constitute notice pursuant to
this Agreement.
16. SECURITY IN GOODS
The Dealer has or concurrently herewith will execute in favor of the Company
a Chattel Mortgage or other Security Agreement on his inventory of ▇▇▇▇ Deere
Goods and certain other items as outlined therein. The Dealer will execute
such additional Security Agreements and Financing Statements, and amendments
and additions thereto or to existing instruments, as the Company requests, in
order that it may have at all times a first lien on Goods in the Dealer's
possession securing his indebtedness to the Company.
17. ENTIRE AGREEMENT
No promise or representation not contained herein was an inducement to either
party or was relied on by either party in entering into this Agreement. The
Dealer understands that, except as provided in Section 13, no agent or
employee of the Company has authority to vary or add to the provisions of
this Agreement, or make any representation going beyond its provisions.
▇▇▇▇ DEERE AUTHORIZED AGRICULTURAL DEALER AGREEMENT
The Dealer agrees to operate only from the following authorized location:
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RDO Equipment Co.
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Dealer (Firm Name)
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Address
/X / Corporation By:
/ / Partnership -------------------------------------------
/ / Proprietorship Title:
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(Authorized officer, owner or partner)
Date:
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Signature
of Other -----------------------------------------------------------------
Partner(s)
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Received, subject to acceptance at the Company's Office
in Minneapolis, MN
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▇▇▇▇ DEERE COMPANY
By: Title:
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Accepted:
▇▇▇▇ DEERE COMPANY
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(Address) (City) (State)
By: Title:
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Date:
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EXHIBIT 10.2
▇▇▇▇ DEERE
DEALER GUARANTY
To: ▇▇▇▇ DEERE COMPANY - A DIVISION OF DEERE & COMPANY OR
▇▇▇▇ DEERE INDUSTRIAL EQUIPMENT COMPANY
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(Street Address)
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(City) (State)
GUARANTY
In consideration of your past and/or future extension of credit to
RDO Equipment Co.
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of
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its successors and assigns (hereinafter called "principal debtor"), for the
financing of goods, wares, merchandise and services, the undersigned
guarantor(s) hereby (jointly and severally if signed by two guarantors)
unconditionally guarantee(s) payment of whatever sums said principal debtor
shall at any time owe you or any company affiliated with you, whether
heretofore or hereafter incurred, including interest, finance charges or
service charges thereon, and including reasonable attorneys' fees and all
court costs incurred in collecting such sums; and you shall be under no
obligation of due diligence to enforce any claims against the principal
debtor or of otherwise exhausting any of your remedies against the principal
debtor, any other obligor or any other guarantor(s), or of enforcing any
rights against any collateral for said indebtedness prior to enforcing
payment hereunder by the undersigned guarantor(s).
This guaranty is to take effect without notice on its acceptance, which
is hereby waived, and is to be a continuing guaranty in full force and effect
until the effective date of a written notice of revocation delivered to you
either personally or by Registered or Certified Mail. It is understood and
agreed that the effective date of any such revocation shall be 90 days after
your receipt of such notice, and that such revocation shall not discharge the
obligation of the undersigned guarantor(s) with respect to indebtedness
incurred by the principal debtor prior to said effective date of revocation.
You are hereby authorized to change the time and manner of payment of
any indebtedness of said principal debtor; to take and make changes in notes,
security or other obligations therefor; to add or release additional
guarantors; to obtain or release additional guaranties, to take such action
as you deem advisable for the enforcement, collection, or compromising of
such indebtedness or any part thereof, or enforcing any security interest
therefor; and to grant renewals or extensions of the time of payment of any
such indebtedness, all without notifying or obtaining the consent of the
undersigned guarantor(s) or in any way affecting the liability of the
undersigned guarantor(s) under this guaranty. If this guaranty is signed by
two guarantors, you are hereby authorized to release one of the undersigned
guarantors without discharging the other.
Protest and demand upon the principal debtor, notice to the undersigned
guarantor(s) or defaults of the principal debtor, notice to the undersigned
guarantor(s) of your extension of credit from time to time to the principal
debtor, and notice of the sale of any collateral are all hereby waived.
GUARANTY
PAGE 2
The undersigned guarantor(s) hereby consent and agree that your books
and records showing the account, obligations and indebtedness of the
principal debtor shall be admissible in evidence and shall be binding upon
the undersigned guarantor(s) for the purpose of establishing the items
therein set forth, and shall constitute prima facie proof thereof. The
undersigned guarantor(s) hereby also agree to provide full and complete
personal financial information at such times as the Company may request.
This guaranty shall inure to the benefit of your successors and assigns
and shall be binding upon the personal representatives, administrators,
executors, heirs, legatees, successors and assigns of the undersigned
guarantor(s).
The foregoing constitutes the complete guaranty agreement, there being
no other representations or warranties made, and such guaranty cannot be
altered, changed or amended in any way except by an instrument in writing
signed by your duly authorized officer.
BY AFFIXING SIGNATURE(S) HERETO, THIS CERTIFIES THAT THE UNDERSIGNED HAS
(HAVE) READ THIS GUARANTY AGREEMENT IN ITS ENTIRETY AND EXECUTE(S) IT FOR THE
CONSIDERATIONS THEREIN EXPRESSED.
Dated at this day of ,
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Witnesses: Guarantor(s):
/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ (SEAL)
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Name Name
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Address Address
(SEAL)
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Name Name
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Address Address
