GUARANTYAGREEMENT
Thi sguar ant yagr eement( her eaf t err ef er r edt oas“ Guar ant y ” ) ,e x ec ut edat1St a Mar i aSt . ,Mar i k i na,Phi l i ppi neson4J une2016byDD deLeon,Fi l i pi no,ofl egal age,s i ngl e,wi t hr es i denc e and pos t aladdr es sa t1St aMar i aSt . ,Mar i k i na, Phi l i ppi nes ,her ei naf t err ef er r edt oas“ Guar ant or ” , i nf av orofBB J os e,wi t h pr i nc i paloffic eat12Mar ySt . ,Mar i k i na,Phi l i ppi nes ,h er ei naf t err ef er r edt oas “ HeadOffic e” ; WHEREASt h eAASan t o s( “ Be ne fi c i a r y ” )a ndBBJ o s e( “ Cr ed i t o r ” ) ,a r ep ar t i e st o t h ea t t a c he dL oa nAg r e eme nto n3J u ne2 01 6,t owh i c ht h i sgu ar a nt yAg r e eme nt i sat t ac hedasAnne x“ A” ; WHEREASt heGuar ant ors hal l benefi tdi r ec t l yori ndi r ec t l yf r om t heLoan; WHEREAS t h e Be ne fi c i a r yh as r e qu i r e dt h att h e Gu ar a nt o run c o nd i t i o na l l y guar ant eet ot heBenefi c i ar yal l t heBenefi c i ar y ’ sobl i gat i onsundert heLoan; THEREFORE,i nv i e wo ft h ef o r e go i n g,t h eGu ar a nt o ra ndt h eBe ne fi c i a r yag r e e asf ol l ows : 1. Gu ar a nt y . Th e Gu ar an t o ra bs ol ut e l y ,i r r e v oc ab l y an d u nc o ndi t i o nal l y gu ar a nt e es t ot h e Be nefi c i ar ya l lt he ob l i g at i o ns o ft he Cus t o me me run de rt h e Co nt r ac ti n c l u di n gt hepr o mp mp tp ay me me ntwh end ueo fal lt heamo un t so we db yt he Cus t omert ot heBenefi c i ar yar i s i ngf r om t heobl i gat i onspur s uantt ot heCont r ac t , e v en i fs u c ho bl i g at i o nsan ds uc ha mo mo un t sa r en oty e tl i q ui d at e do rpa y ab l e ( her eaf t err ef er r ed t o as t he “ Obl i gat i ons ” ) ,o nt he under s t andi ng t hatt he Guar ant or ’ sl i abi l i t yundert hi sGuar ant ys hal lbel i mi t edt oanamountofPhp 400, 000 pl usal lr eas onabl ec os t si nc ur r ed byt he Benefi c i ar yi n as s er t i ng i t s r i ght sagai ns tt heGuar ant orundert hi sGu Guar ant y ,i nc l udi nganyl egal f ees ,j udi c i al c os t sands i mi l arc os t s . Th eGu ar a nt o rs h al lp a ya n ya mo mo un t sgu ar a nt e edb yt h i sGu ar a nt ya ss o o na s t heBenefi c i ar yma mak e sar eques tf orpa y mentt me ot heGuar ant or .Thef ac tt hatt he Benefi ci ar yma mak esar eques tf orpay me ments hal lnoti nanywayr es t r i c ti t sr i ghtt o s ub s eq ue nt l ym ma ak ean yot he rr eq ue s tf o rp ay me me nt . 2. Sol i dar yl i abi l i t y. The Guar ant ors hal las sume s ol i dar yl i abi l i t y wi t ht he Be ne fi c i a r y wi t hr e s pe c tt ot h e Ob l i g at i o ns a nd s h al lwa i v et h eb en efi to f di s c us s i ona nddi v i s i on,aswe l lasan yno t i c eofe x er c i s eb yt heBenefi c i ar yof anyr i ghtors ec ur i t y . 3.Sc opeofGuar ant y .Thi sGuar ant ys hal l bev al i dev eni ft heBeni fi c i ar ydi dnot hav el egal per s onal i t yorc apac i t yatt het i met heCont r ac twassi gned. 4 . Co ns e nt s ,wa i v e r sa ndr e ne wa l s . Th eBe ne fi c i a r yma ma yata nyt i me ,wi t h ou t t heGuar ant or ’ sc ons entandwi t houtnot i c et ot heGuar ant or ,e xt endt hedeadl i ne f ort hepay me mentoft heObl i gat i ons ,r ef r ai nf r om r eal i z i ngorwai v eanys ec ur i t y pr ov i dedi nr egar dt ot heObl i gat i ons ,oramendorr enewt heCont r ac t .
5. Changeofc i r c ums t anc es . Thi sGuar ant ys hal ls ubs i s tno t wi t hs t andi ngan y c hangei nt hec i r c ums t anc est hatga v er i s et ot hegr ant i ngoft hi sGuar ant yb yt he Gu ar a nt o r ,n ot wi t h s t a nd i n g t h e c e s s at i o n o ft h e Gu ar a nt o r ’ s c o mme r c i a l oper at i onsoran yc hangei nt hes ai doper at i onsori nt her el at i ons hi pbet ween t heLoanpar t i es .
I N WI TNESS WHEREOF,t heGuar ant orhassi gnedt hi sGuar ant yont hedat e me nt i o ne da bo v e .
DDdeLe on
Gu ar a nt o r
Si gnedi nt hepr es enc eof :
EEEs t r ada
FFFl or es
ACKNOWLEDGMENT REPUBLI COFTHEPHI LI PPI NES) )S. S.
BEFOREME,aNo t ar yPubl i c ,f ora ndi nt heabo v ej ur i s di c t i onper s onal l y appear edt hef ol l owi ngper s ons ,wi t ht hei rCommuni t yT axCer t i fi cat es ,t owi t : NAME I SSUE 1.AASant os 2.BBJ os e 3.DDdeLeon 4.EEEs t r ada 5.FFFl or es
CTC/ PASSPORT# AA12345 AA14122 AA09213 DD23123 AA12312
DATE/ PLACEOF 12/ 1/ 10Pas ay 03/ 10/ 10Pas ay 7/ 09/ 10Pas ay 08/ 9/ 13Pas ay 1/ 12/ 11Pas ay
Knownt omeandt omeknownt obet hesameper sonswhoexec ut edt he f or egoi ngi ns t r umentandt he yac k no wl ed gedt omet hatt hes amei st hei rf r ee andv ol unt ar yac t . Thi si ns t r umentc ons i s toft hr ee( 3)pagesi nc l udi ngt hi spagewher et he ac k no wl edgmenti swr i t t en,s i gnedont heappr opr i at es pac espr o v i dedabo v e ando nt hel ef t– han dmar gi nsofa l l o t herpages ,a ndi saGuar ant yAgr eement . WI TNESSMYHANDANDSEALt hi s4t hda yofJ une2016 .
Doc.No.________ Page No.________ BookNo.________ Ser i eso f_ ___ __ __
