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Guaranty Agreement for Loan Repayment
This Guaranty Agreement is made between _______________________ (hereafter “Guarantor”) and _______________________ (hereafter “Borrower”), and shall be effective from {date} until {date, or when loan is paid off, or other benchmark}.
LOAN
This Agreement shall cover the loan held by {lender or servicer}, related to repayment of debt incurred for {purpose}, under the revised terms of {interest, duration, etc.}. The original debt amount was {amount}, and the amount to be repaid is {amount}.
GUARANTY
Guarantor guarantees the full repayment of the loan, including interest, by the due date listed above. This guarantee is unconditional and irrevocable.
FAILURE TO MAKE PAYMENTS
In the event that Borrower defaults (fails to make required payments), Guarantor shall be immediately and fully liable for the remaining payments, including the balance of the loan along with any interest, fees, and penalties.
In witness to their agreement to the terms of this contract, the parties affix their signatures below:
____________________________________
Guarantor signature & date
____________________________________
Borrower signature & date
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