Fill and Sign the Promissory Note and Settlement Agreement Form

promissorynotesettlementagreementguarantyDISCLAIMER-THIS FORM IS A SAMPLE - DO NOT USE WITHOUT CONSULTING MARK KRONES. 1 PROMISSORY NOTE AND SETTLEMENT AGREEMENT This Promissory Note and Settlement Agreement ("Agreement") is entered into by {NAME} ("________"),and {NAME} ("_________"), (*If additional parties are required, adjust Signature Block below accordingly) who will hereinafter collectively be referred to as "the parties".{NAME} claims it is owed by {NAME}, its partners, principals, members and its affiliates the principal sum of ${AMOUNT} for printing services and goods plus ____% interest per annum from the date of each invoice plus attorney fees pursuant to the {NAME} credit application signed by {NAME} on {DATE}. {NAME} claims it is entitled to numerous and substantial offsets.For valuable consideration, {NAME} promises to pay {NAME} the sum of $AMOUNT as follows:1.${AMOUNT} on {DATE};2.${AMOUNT} on {DATE};3.${AMOUNT} on {DATE};4.${AMOUNT} on {DATE}; and5.${AMOUNT} on {DATE}*{Extend Table if necessary}If any of the above-mentioned payments are paid late or missed, the unpaid balance is immediately accelerated and due. Each payment shall be in the form of a check made payable to {NAME} and sent to {NAME} at {ADDRESS, CITY, STATE, ZIP}. Upon the timely reception of the first ${AMOUNT} check, {NAME} will release all product manufactured for {NAME} it is presently holding. Upon the timely completion of all five *(OR NUMBER OF PAYMENTS AS SHOWN ON TABLE} $AMOUNT payments in the total sum of $AMOUNT, each of the parties release each other and their agents and affiliates from any and all claims they have against each other arising from the aforementioned sale of goods and merchandise from {NAME} to {NAME}. If any of the five * above-referenced payments are not received timely by {NAME}, the parties expressly reserve and retain whatever rights and claims they have against each other.If suit is commenced or an attorney hired to enforce payment under this Agreement, the undersigned agree to pay all collection costs, including reasonable attorney fees, and agree that the site of venue for litigation is state court in _____________, California.The contents of this Agreement are to be kept confidential and not to be discussed by the parties or their counsel with non-signatories unless otherwise ordered by a Court with jurisdiction or a subpoena by a governmental or quasi-governmental entity.This Agreement may be executed in counterparts, each of which will be deemed an original. Facsimile signatures will have the same force and effect as original signatures.Dated:____________________NAME OF INDIVIDUAL OR CORPORATION promissorynotesettlementagreementguarantyDISCLAIMER-THIS FORM IS A SAMPLE - DO NOT USE WITHOUT CONSULTING MARK KRONES. 2By:_____________________________ {NAME}Dated:____________________NAME OF INDIVIDUAL OR CORPORATIONBy:_____________________________ Manager promissorynotesettlementagreementguarantyDISCLAIMER-THIS FORM IS A SAMPLE - DO NOT USE WITHOUT CONSULTING MARK KRONES. 3PERSONAL GUARANTY OF PAYMENTS TO BE MADE PURSUANT TO THE PROMISORY NOTE AND SETTLEMENT AGREEMENTFor valuable consideration and as an inducement to {NAME} to accept ${AMOUNT} from {NAME} in five *(Insert correct number of payments as indicated by table above) ${AMOUNT} monthly payments rather than full payment of the ${AMOUNT} unpaid balance on the {NAME} account with {NAME}, {INDIVIDUAL/NAME) personally guarantees payment of $AMOUNT of the ${AMOUNT DUE} to be paid by {NAME}. Additionally, {NAME} personally guarantees payment of the remaining $AMOUNT of the ${AMOUNT} to be paid by {NAME}. These two*(or number specified) personal guaranties will be reduced pro rata as {NAME} makes each of the ${AMOUNT} monthly payments.Guarantors waive any and all guaranty defenses, including but not limited to exoneration, all subrogation rights until {NAME} is paid in full, any changes or assignments in the obligation and/or security by {NAME} , the benefit of any applicable statute of limitations, all notices of sale, notice of default, presentment for payment, notice of non-payment, protest and notice of acceptance of this guaranty. Extensions, renewals, indulgences, delays, transfers, settlements and compromises may be made in the {NAME} ' sole discretion, with or without notice to the guarantors, and will not relieve the guarantors of any liability.All terms and conditions in the Promissory Note and Settlement Agreement are incorporated into this Guaranty. This Guaranty may be executed in counterparts, each of which will be deemed an original. Facsimile signatures will have the same force and effect as original signatures.Dated:____________________I have read, understand and acknowledge the above personal guaranty.{NAME}Dated:____________________I have read, understand and acknowledge the above personal guaranty._______________________________{NAME}