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CARIBOU INDUSTRIES (12)
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CARIBOU INDUSTRIES (12)
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Last modified
1/11/2023 10:53:12 AM
Creation date
1/11/2023 10:52:31 AM
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Contracts
Company Name
CARIBOU INDUSTRIES
Contract #
A-2020-265-05
Agency
Community Development
Council Approval Date
11/17/2020
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A-2020-265-05 <br />EXHIBIT F <br />PERSONAL GUARANTEE <br />(M01m j � Mok TMS PERSONAL GUARANTEE made this December 6, 2022 is by: <br />Av <br />Guarantor: Michael Harrah with a mailing address of 44 Linda Isle, Newport Beach, CA 92660 <br />o ("Guarantor") that agrees to personally guarantee a loan made by: <br />�xr <br />`� Borrower: Caribou Industries, Inc. a Nevada Corporation with a mailing address of <br />Ea 1103 North Broadway, Santa Ana, CA 92701(`Borrowei") that agreed to borrow money <br />from <br />Lender; City of Santa Ana, a California charter city in the County of Orange of the <br />State of California with a mailing address of City of Santa Ana, 20 Civic Center Plaza <br />(M-30), P.O. Box 1988, Santa Ana, CA 92701("Lender") that accepts the terms of this <br />Personal Guarantee <br />IN CONSIDERATION of the Lender extending a loan of Thirteen Million ($13,000,000.00) <br />to the Borrower, plus other valuable consideration, the receipt and sufficiency of which is <br />acknowledged, the Guarantor personally guarantees the prompt, full and complete <br />performance of any and all present and future duties, obligations and indebtedness (the <br />"Debt") due to the Lender by the Borrower up to a limit of Thirteen Million Dollars <br />($13,000,000,00), under the terms of the City of Santa Ana Public Improvement Loan <br />Agreement with Caribou Industries, Inc. and Promissory Note signed by Borrower (the <br />"Agreements") and under the following terms and conditions: <br />I. I. Guarantor guarantees that Borrower will promptly pay the full amount of principal and <br />interest of the Debt as and when the same will, in any manner, be or become due, either <br />according to the terms and conditions provided by the Agreement, or upon acceleration <br />of the payment under the Agreements by reason of default; <br />1.2. The Guarantor agrees not to pledge, hypothecate, mortgage, sell or otherwise transfer all <br />or substantially of Guarantor's assets without the prior written consent of the Lender; <br />1.3. To the extent permitted by law, Guarantor waives all defenses, counterclaims or offsets <br />that are legally available to the Guarantor with respect to the payment of the Debt of <br />Borrower. <br />2. This Personal Guarantee shall be construed exclusively in accordance with and governed by <br />the laws of the State of California. <br />This Personal Guarantee embodies the entire promise of Guarantor to personally guarantee <br />Borrower's Debt and supersedes all prior agreements and understandings relating to the <br />subject matter here, whether oral or in writing, <br />55394.00049\40884170.6 <br />
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