The undersigned acknowledge that Specialty Builders’ Supply is relying upon this guarantee and would not otherwise extend credit to the Applicant. This guarantee is an absolute, unconditional, and continuing guarantee of the full and punctual payment of the Applicant of any and all invoices now due and to come due on the above terms, and is in no way conditioned upon any requirements that Specialty Builders’ Supply first attempt to collect any of the outstanding amounts from the Applicant or any other party primarily or secondarily liable. The undersigned hereby waives any separate invoicing, notice of time and amount of extension of credit to the Applicant, as well as rights of set off, redemption, surety ship defenses and counterclaim that may be alleged to exist in favor of Applicant. Such guarantee shall extend, without limitation, to principal, interest, costs of collection and attorney’s fees.
Upon default by the Applicant in the full and punctual payment of any invoices, the guarantors hereunder shall pay Specialty Builders’ Supply said amounts without demand or notice of any nature, all of which are expressly waived by Guarantors.
The undersigned authorize any credit investigation needed for action on this credit application and hereby defend, indemnify and hold harmless Timberline, including its agents, servants and employees, from any liability resulting from their credit survey. It is also acknowledged and agreed that accounts receivable information may be reported by Specialty Builders’ Supply to various consumer and commercial credit agencies.
FOR VALUE RECEIVED, the undersigned (“Guarantors”) jointly and severally agree to personally and unconditionally guarantee prompt payment and performance to Specialty Builders’ Supply, its successors and assigns of all indebtedness, liabilities and agreements of the Applicant/Business.
No rights against the Applicant and Guarantors are waived by failure to exercise any rights against Customer and/or other Guarantor(s) upon its default.