SHOPPING CENTER LEASE GUARANTY
Guaranty to that lease dated ______________ by and between ___________________ herein called Landlord, and _____________ herein called Tenant, by _________ Inc. Guarantor.
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in consideration for, and as an inducement to Landlord to enter into a lease with Tenant for ________ square feet of space in the shopping center at _________, ___________ (the "Lease"), the undersigned guarantees to Landlord throughout the term of this Guaranty, which shall begin on the commencement date of the Lease term and expire in 4 years following the commencement date of Lease term, but without any other condition or limitation, the full performance and observation of all of the material terms, covenants, conditions, provisions and agreements therein provided to be performed or observed by Tenant, including the "Rules and Regulations" as provided in the Lease. Landlord may seek performance of this Guaranty upon 5 days written notice to Guarantor given after (a) Landlord shall have given notice of nonperformance to Tenant and (b) Tenant shall have failed to cure such non performance within the time period set forth in the Lease.
The undersigned expressly agrees that the validity of this Guaranty and the obligations of the undersigned as guarantor under this Guaranty shall not be terminated, affected or impaired at any time before the expiration of the term of this Guaranty by reason of the assertion by Landlord against Tenant of any of the rights or remedies reserved to Landlord pursuant to the provisions of the Lease. Furthermore, Landlord may grant extensions of time and other indulgences and may modify, amend and waive any of the terms, covenants, conditions, provisions or agreements of the Lease, and discharge or release any party or parties to the Lease, all without notice to the undersigned and without any way impairing, releasing or affecting the liability or obligation of the undersigned. The undersigned agrees that Landlord may proceed directly against the undersigned without exhausting Landlord's remedies against Tenant; and no discharge of Tenant in bankruptcy or in any other insolvency proceedings shall in any way or to any extent discharge or release the undersigned from any liability or obligation under this Guaranty. The undersigned further covenants and agrees that this Guaranty shall remain and continue in full force and effect as to any renewal, modification or extension of the Lease, and that no subletting and not assignment of the Lease, with or without Landlord's consent, shall release or discharge the undersigned.
Guarantor has provided its most recent financial statements as inducement for Landlord to enter into the Lease; said financial statements are attached hereto and incorporated by reference herein. As an additional inducement to Landlord to make the Lease and in consideration of the Lease, Landlord and the undersigned covenant and agree that in any action or proceeding brought by either Landlord or the undersigned against the other on any matter whatsoever arising out of, under, or by virtue of any of the terms, covenants, conditions, provisions or agreements of the Lease or of this Guaranty, Landlord and the undersigned shall and do hereby waive trial by jury. In a suit brought by either party hereunder, the prevailing party may recover, in addition to any damages which a court of competent jurisdiction may award, such amount or amounts as the court may determine to be reasonable attorney's fees and costs incurred by such party or its successors or assigns as a result of such suit.
All rights under this Guaranty shall inure to the benefit of any successors or assigns of Landlord.
IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the day and year first above written.
EXECUTED as of ________________.
a _____________ corporation