This Guaranty is made and entered into by the undersigned (the “Guarantor”) in favor of United Refining Company and United Refining Company of Pennsylvania, together with their respective affiliates and subsidiaries (collectively“United”). Guarantor represents and warrants to United that Guarantor is a partner, shareholder, member, officer, director or other interested party in the business of (the “Applicant”). In order to induce United to grant or continue to extend credit to Applicant, Guarantor hereby agrees, for good and valuable consideration and intending to be legally bound, as follows: 1) Guarantor hereby guarantees and becomes surety for the payment and performance of all obligations of Applicant to United howsoever arising. Guarantor’s obligations are primary, absolute and unconditional. Guarantor authorizes and agrees that United may, at any time and from time to time, without notice to Guarantor, renew, compromise, extend, increase, accelerate or otherwise change the time for performance, or the amount of any credit line or debt extended to or owed by Applicant. Guarantor further authorizes and agrees that United may, at any time and from time to time, without notice to Guarantor, hold, exchange, liquidate, waive or release, in whole or in part, collateral security for payment of the obligations of Applicant. 2) This is a Guaranty of payment and performance not merely collection. Guarantor waives any right to require United to attempt collection or otherwise proceed against Applicant, enforce a security interest in or collect from any collateral held by United, or to pursue any claim or remedy against Applicant or any other party prior to making demand upon Guarantor. Guarantor hereby waives any right of subrogation, reimbursement or indemnity against or by Applicant in favor of Guarantor, and further waives notice of protest, dishonor or acceptance. 3) Guarantor agrees to pay all costs of collection, including reasonable attorney’s fees together with costs. 4) This Guaranty shall be binding upon and inure to the benefit of the heirs, personal representatives (if an individual), and successors and assigns of the parties. Nothing herein shall relieve the Guarantor under this Guaranty except a.) a written release by United; or b.) payment in full of the Applicant’s obligations. This Guaranty shall be deemed made and shall be performable in the Commonwealth of Pennsylvania. Venue shall be in the state and federal courts having jurisdiction in and for Erie County, Pennsylvania, or such other place as United may select and in which an action hereunder may be brought.
In witness whereof, the Guarantor (and each of them, jointly and severally if more than one) have caused the due execution hereof.