FOR VALUE RECEIVED, I/we, the undersigned, hereby jointly and severally guarantee the prompt payment and performance on demand of all obligations, purchase orders, or other obligations owed now or in the future (hereafter collectively, the “obligations”) to Mickelsen Construction Inc. its affiliates, successors and assigns (“Mickelsen”), without limitations as to amount. by
(Personnel Name) and/or its affiliated or related persons or entities (hereafter collectively, the “Debtor”). Any obligations subject to this guarantee not paid or performed on demand shall bear interest at the rate of 1.5% per month from the date of such demand until paid in full. The undersigned further agrees to pay all costs and expenses related to the collection, enforcement or breach of this guarantee, including but not limited to reasonable attorney fees, rather incurred with or without litigation, on appeal or otherwise, pursuant to Idaho Code Section 12-120 and other applicable statute or rule.
This guarantee contains the entire understanding between the parties and may not be modified except in writing signed by all parties. This guarantee is continuing in nature and applies to all obligations of Debtor. Liability of the undersigned shall not be affected of prejudiced by the additional acceptance, with or without notice to the undersigned, of a note or other evidence of indebtedness, the extension of time for payment, payment arrangements or other indulgence granted to Debtor, or by any other agreement relating to the obligations, all of which defenses the undersigned hereby waive. The filing of suit or exhaustion of collection or legal remedies against Debtor shall not be a condition precedent to the enforcement of this guarantee. The undersigned hereby expressly waive presentment for demand, payment, protest, and notice of protection or diligence.
Mickelsen Construction, Inc. may release or modify this guarantee in relation to the obligations of one
or more of the undersigned or release or modify the obligations of other guarantors without affecting the liability of any other undersigned. Mickelsen Construction, Inc. may assign this guarantee in whole or in part without affecting the liability of any other undersigned. Mickelsen Construction, Inc. may assign this guarantee in whole or in part without notice to the undersigned. This guarantee shall be binding upon heirs, personal representatives, successors and assigns of the undersigned. This guarantee shall remain in full force and affect until fifteen (15) days after an officer of Mickelsen Construction, Inc. receives written notice of its termination. The undersigned shall not be liable for new advances furnished to Debtor subsequent to the effective date of the termination of this guarantee, but this guarantee shall remain in full force as to any obligations incurred by Debtor prior to the termination, including, but not limited to, any extension, modification or renewal of such prior obligations. The undersigned guarantee that they are subject to the jurisdiction of the courts of the State of Idaho.
Any actions brought to enforce this guarantee shall commence and remain in the courts in the Seventh Judicial District, County of Bingham, and State of Idaho. The laws of the State of Idaho shall govern this guarantee.