This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Montana Continuing Guaranty of Payment and Performance of all Obligations and Liabilities Due to Lessor from Lessee under Lease with Mortgage Securing Guaranty is a legal document that establishes an ongoing guarantee by the guarantor to be responsible for the payment and performance of all obligations and liabilities owed to the lessor from the lessee under a lease agreement secured by a mortgage. This type of guaranty ensures that the lessor is protected in case the lessee fails to fulfill their obligations under the lease. Keywords: Montana guaranty, continuing guaranty, payment and performance, obligations and liabilities, lessor, lessee, lease, mortgage securing guaranty. There are several types of Montana Continuing Guaranty of Payment and Performance, each serving a specific purpose: 1. Individual Guaranty: This type of guaranty is provided by an individual, where the individual acts as the guarantor and is personally responsible for any default or non-payment by the lessee. 2. Corporate Guaranty: In this case, a corporation provides the guaranty on behalf of the lessee. The corporation assumes the responsibility of payment and performance if the lessee fails to fulfill its obligations. 3. Joint and Several guaranties: With this type of guaranty, multiple guarantors agree to be jointly and severally responsible for the payment and performance of obligations. This means that if one guarantor cannot fulfill their part, the others will be held liable for the entire amount. 4. Limited Guaranty: A limited guaranty imposes certain restrictions or limits on the guarantor's liability. This type of guaranty may specify a maximum limit on the guarantor's responsibility or limit the guarantee to certain specified obligations or liabilities. 5. Absolute Guaranty: An absolute guaranty is a broad and comprehensive guaranty where the guarantor accepts unlimited liability for all obligations and liabilities due to the lessor from the lessee under the lease with mortgage securing guaranty. The guarantor must fulfill all obligations if the lessee fails to do so. It is important to consult with legal professionals to fully understand the specific provisions and implications of each type of guaranty to ensure the interests of both the lessor and the guarantor are protected.
