PERSONAL GUARANTEE
FOR VALUE RECEIVED, the undersigned (individually and collectively "Guarantor") absolutely, unconditionally, and irrevocably guarantees to AMERICA'S ENERGY, INC. ("AEI") the full and prompt payment and performance of all debts, obligations, and liabilities of every kind and nature whatsoever which are now or may hereafter become owing by the above-named Buyer to AEI (collectively "Obligations").
1. CONTINUING GUARANTEE: This is a continuing guarantee and shall remain in full force and effect until written notice of revocation is delivered to AEI by certified mail. Revocation shall not affect Guarantor's liability for Obligations incurred prior to AEI's receipt of such notice.
2. UNCONDITIONAL OBLIGATION: The liability of Guarantor hereunder is unconditional and absolute and shall not be affected, modified, or impaired by:
- Any modification, amendment, or extension of the credit terms between AEI and Buyer;
- Any release, settlement, or compromise of any Obligation;
- The insolvency, bankruptcy, or reorganization of Buyer;
- The release of any other guarantor or the release of any collateral;
- AEI's failure to give notice to Guarantor of any default by Buyer;
- Any other circumstance that might otherwise constitute a legal or equitable discharge or defense of a guarantor.
3. WAIVERS: Guarantor waives: (a) notice of acceptance of this guarantee; (b) notice of the creation, modification, or acquisition of any Obligation; (c) presentment, demand for payment, protest, and notice of dishonor or default; (d) all rights to require AEI to proceed against Buyer or any other person or to pursue any other remedy; (e) any defense based on any claim that Guarantor's obligations exceed or are more burdensome than those of Buyer; and (f) the benefit of any statute of limitations.
4. IMMEDIATE PAYMENT: Upon default by Buyer, AEI may proceed immediately against Guarantor without first proceeding against Buyer or exhausting any other remedies. Guarantor agrees to pay AEI on demand all amounts due under the Obligations.
5. COSTS OF COLLECTION: Guarantor agrees to pay all costs and expenses, including reasonable attorney's fees and court costs, incurred by AEI in enforcing this guarantee or collecting any amounts due hereunder.
6. FINANCIAL INFORMATION: Guarantor agrees to provide AEI with current financial statements and other financial information upon request.
7. JOINT AND SEVERAL LIABILITY: If more than one person signs as Guarantor, each person's liability shall be joint and several, and AEI may proceed against any one or more Guarantors without affecting the liability of others.
8. SUCCESSORS AND ASSIGNS: This guarantee shall be binding upon Guarantor and Guarantor's heirs, executors, administrators, successors, and assigns, and shall inure to the benefit of AEI and its successors and assigns.
9. GOVERNING LAW: This guarantee shall be governed by the laws of the State of Arizona. Guarantor consents to the jurisdiction and venue of the state and federal courts located in Maricopa County, Arizona.
GUARANTOR ACKNOWLEDGES THAT GUARANTOR HAS READ THIS GUARANTEE, UNDERSTANDS ITS TERMS, AND AGREES TO BE BOUND BY IT. GUARANTOR FURTHER ACKNOWLEDGES THAT GUARANTOR IS PERSONALLY LIABLE FOR ALL OBLIGATIONS OF BUYER TO AEI.