In consideration of your extending credit to my/our company, I/we personally guarantee payment in accordance with your credit terms. I/we understand that this guarantee shall be an absolute, continuing, and irrevocable guarantee. I/we agree that you may proceed against me/us for payment without first proceeding against my/our company. A waiver or release of rights against my/our company will not discharge my/our liability to pay. In any action to enforce the respective rights and liabilities by and among the parties herein, the prevailing party shall be entitled to the recovery of attorneys’ fees and costs. In the event more than one party executes this guarantee as guarantor, then each guarantor agrees to be jointly and severally liable.
1) This is an application for the extension or credit from MARIN-SONOMA PRODUCE CO. to the undersigned. If approved, the undersigned agrees to be bound by the terms stated herein.
2) MARIN-SONOMA PRODUCE CO. is entitled to conduct any investigation to verify the information contained herein and may, from time to time, perform further investigations as necessary. The undersigned will cooperate fully and without delay to complete said investigation.
3) NO CREDIT LINE is established by execution hereof; Credit is granted only at MARIN-SONOMA PRODUCE CO.’S sole discretion after review and investigation. Should credit be extended to the applicant(s), MARIN-SONOMA PRODUCE CO. at its sole discretion may review applicant’s credit history and terminate credit line at any time.
4) The undersigned agrees to pay all sums due, without offset, a) Within net 20 days from the date of each statement, which statement shall include all purchases made and/or goods delivered during any preceding statement period, as well as all balances carried over from prior statements, if any. b) Past due balances will be subject to a late charge of 1.5% per month. Returned checks will be subject to a $25.00 charge. c) In the event of delinquency, MARIN-SONOMA PRODUCE CO. reserves the right to place account on a cash and carry basis until account has been paid in full.
5) Should the credit terms be breached or if there is any deviation in payment from the terms stated, at the option of MARIN –SONOMA PRODUCE CO., the entire balance of all invoices, regardless of the date of delivery, shall become immediately due and payable.
6) If the applicant is a corporation, then a personal guarantee shall be executed by the corporate officers before extension of credit.
7) This agreement and all transactions pursuant thereto shall be governed by the laws of the State of California and the undersigned expressly consents to the jurisdiction of the courts of the State of California. Should litigation be instituted by any party hereto, the prevailing party shall be entitled to attorneys’ fees and court cost.