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Guaranty with pledged collateral Form

FOR VALUE RECEIVED, receipt of which is hereby and herein acknowledged, and to induce (the "Promisee") to enter into the Agreement dated _______________________
with _________________________________  (the "Guarantor"), executed and effective simultaneously with the execution and effectiveness of this Guaranty, _______________                        (the "Guarantor"), hereby unconditionally and absolutely guarantees to the Promisee the performance by the Guarantor of each and every covenant, agreement and obligation of the party or parties under the Agreement including, without limitation, the payment to the Promisee (or, if applicable, his executors, administrators or personal or legal representatives or estate or legatees) of all sums due under the Agreement at the time such sums shall be due and payable.

The Guarantor pledges the following collateral as security under this Agreement.  The collateral shall be held by ________________ (person or corporation) and security shall be pledged in the form of ___________________.

The obligation of Guarantor under this Guaranty shall be a direct and primary obligation, and the Promisee shall not be required to exhaust any of the Promisee's rights or remedies against the party or parties, or any Guarantor prior to making any demand on or invoking any of the Promises rights and remedies against a Guarantor.  In furtherance of the foregoing, Promisee may proceed, at one time or successively and without notice to any Guarantor, against any Guarantor, or against any one or more of them.  In any action brought by Promisee against a Guarantor under this Guaranty, no Guarantor shall be entitled to, and shall not, plead as a defense that Promisee is not legally or equitably insolvent or is dissolved or liquidated, and each Guarantor covenants and agrees to pay to the Promisee all costs and expenses (including attorney's fees) incurred by Promisee in any such action.

This Guaranty and all rights, obligations and liabilities arising hereunder shall be
construed and enforced in accordance with the laws of the State of _________________

This Guaranty shall bind each Guarantor below and each Guarantor's respective successors and assigns, and shall inure to the benefit of Promisee and Promisee's executors, administrators, personal and legal representatives, and estate and legatees.

IN WITNESS WHEREOF, this Guaranty has been duly executed by the Guarantor(s) on



_________________________            ____________________________
Guarantor                        Guarantor (if a second one)