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<br />, 111f{ <br /> <br /> <br />recoupment. - <br /> <br />16. Joint and Several. This Guaranty and the covenants made and the liability <br />undertaken by the undersigned are made and undertaken jointly and severally. Suit may <br />be brought against the Guarantors, jointly and severally, and against either or any of them, <br />without impairing the rights of the the City, its successors or assigns, against the other of <br />the Guarantors; and the City may compound with anyone of the Guarantors for such sum <br />or sums as it may see fit and release or discharge any of the Guarantors from all further <br />,-- liability to the City for such indebtedness and obligations without impairing the right of the <br />City to demand and collect the balance of such indebtedness and performance of such <br />obligations from any other Guarantor not so released. <br /> <br />17. Controlling Law and Jurisdiction. This instrument shall be construed in accordance <br />with the laws of the State of Texas. Guarantor agrees that all actions for the enforcement <br />or defense of Guarantor's obligations or rights under this Guaranty shall be brought in <br />Hays County, Texas. <br /> <br />18. Waiver of Right to Trial by Jury. Guarantor waives any and all rights it may have to <br />a trial by jury in any action with respect to this Guaranty. <br /> <br />19. Cross-Default. A default under this Guaranty shall be deemed a default under the <br />Agreement. ~ <br /> <br />20. Financial Statements. Upon request by the City, Guarantor shall deliver to the City <br />financial statements prepared and certified by an independent certified public accountant <br />satisfactory to the City, prepared in accordance with generally accepted accounting <br />principles. Guarantor represents and warrants that it has full power and authority to <br />execute and deliver this Guaranty and this Guaranty is the legal, valid and binding <br />obligation of Guarantor. Guarantor represents and warrants that it has read and fully <br />understands the contents of this Guaranty and that this Guaranty represents the full and <br />complete understanding and agreement of the City and Guarantor and supersedes all prior <br />discussions, negotiations or agreements, written or oral, between or among them and that <br />no representations or warranties have been made by the City to Guarantor if not expressly <br />set forth in this Guaranty. <br /> <br />21. Termination. This Guaranty will automatically terminate upon the full and complete <br />satisfaction of all obligations and payments of Borrower, its successors or assigns, under <br />the Agreement, as amended, modified, extended or renewed. <br /> <br />IN WITNES~.1EOF, this Guaranty has been duly executed under seal as of <br />the +-~ay of . V ~ ,/r/ "".....~I/#'~ 996. <br /> <br />GUARANTOR: <br /> <br /> <br />~~~ <br /> <br /> <br />THE STATE OF TEXAS § <br />§ <br />COUNTY OF HAYS § <br /> <br />This instrument was acknowledged ~efore me on this / ~ day of ~~ J <br />1996 by Jeff C. Jorgensen, whose address IS, <br />. , ??G- ¿v. HDt?K/¡tJ ~ I ,~4(l YVl/lffi.úO'3 I 'f"4£ <br />_. - I . , <br /> <br /> <br />Notary Siamp , -4 ' <br /> <br /> <br /> <br />3 <br />