Res 1996-180 - Laserfiche WebLink

Home Browse Search

4/11 until each and all of Borrower's obligations -under the Agreement have been ful1y performed and discharged. 9. Insolvency. Guarantor's obligation to make payments or perform in accordance with the terms of this Guaranty shall not be impaired, modified, changed, released, discharged or otherwise limited in any manner whatsoever by any impairment, modification, change, release or limitation of the liability of Borrower or Borrower's estate in bankruptcy or other insolvency proceedings resulting from the operation of any present or future provision of the National Bankruptcy Act or other federal or state statute, or from the decision of any court. Guarantor expressly waives any rights of protection or limitation provided by the National Bankruptcy Act or any other federal or state statute, or from the decision of any court which limits the City's recovery, right of recovery, or recovery amount against the Guarantor or acceleration, including, without limitation, recovery limitations set out in 11 U.S.C. Section 502(b)(6). 10. Waivers of Defenses. Guarantor shall not be entitled to make, and waives, any and all defenses against any claim asserted by the City or in any suit or action instituted by the City to enforce this Guaranty or the Agreement or be excused from any liability, unless Borrower could make or invoke such defense. Guarantor expressly waives any and al1 defenses at law or in equity which are not or would not be available to Borrower. The liability of Guarantor under this Guaranty contract is primary and unconditional. . . 11. Waivers of Notice. Guarantor waives notice of acceptance, notice of default by Borrower under the Agreement, notice of default by Guarantor under this Guaranty, demand, extensions of time to Borrower for payment or performance, and other forbearance, and any and all other notices or demands which may be required by law. 12. Attorney's Fees. In the event of judicial proceedings for the enforcement of this Guaranty, the prevailing party shall be entitled to receive from the non-prevailing party reasonable attorneys' fees and all reasonable costs incurred by the prevailing party, as approved by a court of competent jurisdiction. 13. Binding Effect. This Guaranty shall be binding upon the heirs, personal representatives, successors and assigns of Guarantor and shall inure to the benefit of the successors and assigns of the City. 14. Notices. All notices, requests, demand and other communications required or given hereunder shall be in writing and shall be deemed to have been duly given if c;ielivered in person or mailed, certified mail or registered mail, return receipt requested, postage prepaid. If to the City: Attention: Larry D. Gilley, City Manager City of San Marcos 630 E. Hopkins San Marcos, Texas 78666 If to Guarantor: Attention: Jamine K. Doty ~ II:) W 6AAJ A-tJiOlJ ¡ D F -L- - / ...<; m -rt /~Ú?/ìJt7 15. Subrogation. Guarantor shall not be subrogated, and waives all rights of subrogation, to any of the rights of the the City under the Agreement, by reason of any of the provisions of this Guaranty or by reason of the performance by the Guarantor of any of its obligations. Guarantor agrees to look solely to the Borrower or other Guarantors of Borrower for 2