This form prepares guarantees of specific as well as blanket credit arrangements, as well as options for a limitation on the total liability, or for 100% liability. This form can be used to create a guarantee for any type obligation. An FTC Notice to co-signer is mandatory if the holder is a business providing services for personal or family use. Although not necessary in other circumstances a notice to cosigner never hurts.
The undersigned, in consideration of the extension of credit by HOLDER to MAKER, unconditionally personally guarantee the full and prompt payment of principal, interest, and any collection costs, including attorney's fees to HOLDER. The undersigned consent to any extensions which may be made from time to time between MAKER and HOLDER, and consents to the release or substitution of any collateral.
READ CAREFULLY: You are executing a legally binding obligation to pay this debt should the primary maker fail or refuse to do so. This may mean that you might be called on to pay this debt and collection costs.
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