{"id":40925,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/continuing-guaranty-bank-one-arizona-na-19th-avenue-buchanan.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"continuing-guaranty-bank-one-arizona-na-19th-avenue-buchanan","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/continuing-guaranty-bank-one-arizona-na-19th-avenue-buchanan.html","title":{"rendered":"Continuing Guaranty &#8211; Bank One Arizona NA, 19th Avenue\/Buchanan LP, and Schuff Steel Co."},"content":{"rendered":"<pre>\n                               CONTINUING GUARANTY\n\n\nTO:      THE BANK ONE, ARIZONA, NA\n\n         1. For valuable consideration, the undersigned (hereinafter called\nGuarantors) jointly and severally, unconditionally guarantee and promise to pay\nto BANK ONE, ARIZONA, NA (hereinafter called Bank), or order, on demand, in\nlawful money or the United States, any and all Indebtedness of 19TH\nAVENUE\/BUCHANAN LIMITED PARTNERSHIP, an Arizona limited partnership (hereinafter\ncalled Borrowers) to Bank. The word 'Indebtedness' is used herein in its most\ncomprehensive sense and includes any and all advances, debts, obligations and\nliabilities of Borrowers, and any and all contracts, letters of credit or\ncommitments of Bank made for the benefit or at the request of Guarantors or\nBorrowers, or any one or more of them, heretofore, now or hereafter made,\nincurred or created, whether voluntary or involuntary, and however arising\nwhether due or not due, absolute or contingent, liquidated or unliquidated,\ndetermined or undetermined, and whether Borrowers may be liable individually or\njointly with others, or whether recovery upon such Indebtedness may be, or\nhereafter becomes, barred by any statute of limitations, or whether such\nIndebtedness may be, or hereafter becomes, otherwise unenforceable.\n\n         2. The liability of Guarantors shall not exceed at any one time the\ntotal of the principal sum of THREE MILLION TWENTY-TWO THOUSAND FOUR HUNDRED\nEIGHTY-FIVE AND NO\/100 Dollars ($3,022,485.00) plus all accrued and accruing\ninterest upon the said guaranteed principal Indebtedness as contracted and\nagreed by Borrowers. This Guaranty shall bind and obligate each of the\nundersigned, his heirs, legatees, devisees, personal representatives, successors\nand assigns, with said Borrower, jointly and severally, for the payment of said\nIndebtedness precisely as if the same had been contracted and was due and owing\nby him in person. The obligations hereunder are joint and several and\nindependent of the obligations of Borrowers and a separate action or actions may\nbe brought and prosecuted against Guarantors whether action is brought against\nBorrowers or whether Borrowers be joined in any such action or actions; and\nGuarantors waived the benefit of any statute of limitations affecting their\nliability hereunder or the enforcement thereof. Guarantors further waive any\naction against the Borrowers or Guarantors required by any statute, upon notice.\n\n         3. No revocation hereof shall affect in any manner rights arising under\nthis Guaranty with respect to (a) liabilities which shall have been created,\ncontracted, assumed or incurred prior to actual receipt by the Bank of written\nnotice of such revocation; (b) liabilities which shall have been created,\ncontracted, assumed or incurred after actual receipt by Bank of such written\nnotice pursuant to any contract, letter of credit or commitment entered into by\nthe Bank prior to receipt of such notice, or (c) any of the aforementioned\nliabilities arising out of or in any way related to the Indebtedness which shall\nhave been renewed, modified, extended, consolidated, amended or revised after\nrevocation of this Guaranty, any or all of which actions are contemplated and\nhereby permitted by Guarantors, and this Guaranty shall continue in full force\nand effect, and Bank shall have the rights herein provided for, as if no such\nrevocation had occurred. The sole effect of revocation hereof shall be to\nexclude from this Guaranty liabilities and Indebtedness thereafter arising which\nare unconnected with (a) liabilities and Indebtedness theretofore arising and\nexisting, or (b) transactions, contracts, letters of\n\ncredit or commitments theretofore entered into or made, which are renewed\nmodified, extended, consolidated, amended or revised after such revocation. Any\nsuch revocation of this Guaranty at any time or times by one or more of the\nundersigned Guarantors shall not affect the liability hereunder of the remaining\nGuarantors as to any future transactions or Indebtedness of the Borrowers, but\nthis Guaranty shall in all respects remain in force and effect as to such\nIndebtedness and transactions. The death of any Guarantor shall not operate as a\nrevocation of liability hereunder of the estate of any such Guarantor as to\ntransactions entered into or Indebtedness created subsequent to such death until\nactual receipt by Bank of written notice of the death of such Guarantor. Each of\nthe Guarantors severally waives notice of revocation given by any other\nGuarantor or Guarantors. Any payment by Guarantors shall not reduce their\nmaximum obligation hereunder, unless written notice to that effect is actually\nreceived by Bank at, or prior to, the time of such payment. Revocation of this\nGuaranty shall not in any way affect the rights, duties, obligations or\nliabilities of either Bank or Guarantors hereunder with respect to transactions\noccurring or Indebtedness incurred prior to the effectiveness of such\nrevocation.\n\n         4. Guarantors authorize Bank, from time to time, without notice or\ndemand and without affecting their liability hereunder, to (a) renew,\ncompromise, extend, revise, accelerate or otherwise change the time for payment\nof, or otherwise change the terms of, the Indebtedness or any part thereof,\nincluding increase or decrease of the rate of interest thereon, before and after\nany revocation of this Guaranty; (b) take and hold security for the payment of\nthis Guaranty or the Indebtedness guaranteed, and exchange, enforce, waive and\nrelease any such security, or take additional security; (c) apply such security\nand direct the order or manner of sale thereof as Bank, in its discretion, may\ndetermine; and (d) release or substitute any or more of the endorsers or\nGuarantors or acquire additional Guarantors. Bank may, without notice, assign\nthis Guaranty in whole or in part.\n\n         5. Guarantors waive any right to require Bank to (a) proceed against\nBorrowers, Guarantors, or other guarantors; (b) proceed against or exhaust any\nsecurity held from Borrowers; or (c) pursue any other remedy in Banks power\nwhatsoever. Guarantors waive any defense arising by reason of any disability or\nother defense of Borrowers or by reason of the cessation, from any cause\nwhatsoever, of the liability of Borrowers. Until all Indebtedness of Borrowers\nto Bank shall have been paid in full, even though such Indebtedness is in excess\nof Guarantors' liability hereunder, Guarantors shall have no right of\nsubrogation unless Bank, at its option, so elects, and hereby waive any right to\nenforce any remedy which Bank now has, or may hereafter have, against Borrowers,\nand hereby waive any benefit of, and an right to participate in, any security\nnow or hereafter held by Bank. Guarantors waive all presentments, demands for\nperformance, notices of non-performance, protests, notices of protest, notices\nof dishonor and notices of acceptance of this Guaranty and of the existence,\ncreation, or incurring of new or additional Indebtedness. .\n\n         6. In addition to all liens upon, and the right of set-off against, the\nmonies, securities or other property of Guarantors given to Bank by law, Bank\nShall have a lien upon, and a right of set-off against, all monies, securities\nand other property of Guarantors now and hereafter in the possession of or on\ndeposit with Bank, whether held in a general or special account or deposit, or\nfor safekeeping or otherwise, and every such lien and right of set-off may be\nexercised without demand\n\n\n                                       2\n\nupon, or notice to, Guarantors. No lien or right of set-off shall be deemed to\nhave been waived by any act or conduct on the part of Bank, or by any neglect to\nexercise such right of set-off, or to enforce such lien, or by any delay in so\ndoing, and every right of set-off and lien shall continue in full force and\neffect until such right of set-off or lien is specifically waived or released by\nan instrument in writing executed by Bank.\n\n         7. Guarantors agree to pay a reasonable attorneys' fee and all other\ncosts and expenses which may be incurred by Bank in the enforcement of this\nGuaranty.\n\n         8. Any married person who signs this Guaranty hereby expressly agrees\nthat recourse may be had against his\/her separate property for all his\/her\nobligations under this Guaranty.\n\n         9. This Guaranty is exclusive and cumulative as to amounts and shall\nnot serve to revoke or alter any Continuing Guaranty previously delivered to\nBank or (unless otherwise specifically provided in writing at the date and\nexecution thereof) be revoked by any Guaranty subsequently delivered by Bank.\nThis Guaranty does not in any manner whatsoever limit the amount of any\nborrowing heretofore or hereafter made under any other financing arrangement\n(between Bank and Borrower.)\n\n         10. In all cases where there is but a single Guarantor, all words used\nherein in the plural shall be deemed to have been used in the singular where the\ncontext and construction so require; and when there is more than one Borrower\nnamed herein, or when this Guaranty is executed by more than one Guarantor, the\nword 'Borrowers' and the word 'Guarantors', respectively, shall mean all and any\none or more of them.\n\n         IN WITNESS WHEREOF the undersigned Guarantors have executed this\nGuaranty this 22nd day of April, 1996.\n\nSCHUFF STEEL COMPANY, an\nArizona corporation\n\nBy:      _______________________________\nName:    Scott A. Schuff\nIts:     President\n\n\n                                       3\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6850,8773],"corporate_contracts_industries":[9415,9481],"corporate_contracts_types":[9560,9565],"class_list":["post-40925","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-bank-one-corp","corporate_contracts_companies-schuff-international-inc","corporate_contracts_industries-financial__banks","corporate_contracts_industries-construction__specialty","corporate_contracts_types-finance","corporate_contracts_types-finance__guaranty"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40925"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40925"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40925"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}