I/We herein make application for credit and/or update and reconfirm our existing account and balance. Applicants give their permission to United Pacific Energy, or its agent, to verify the information stated herein.
Default Agreement As a material part of this agreement, the undersigned will provide their most recent financial statements or income or tax return, along with periodic updates, to United Pacific Energy for the purpose of determining the undersigned's continuing financial status. I/We understand and agree that the information furnished to you on this application is for the purpose of obtaining credit from your firm, and I/We are authorized in my/our capacity to bind my/our firm accordingly, I/We further understand and agree that I/We promise to pay all bills rendered payable at the payment address shown on the invoice. I/We understand and agree that should my/our account not be paid within terms fixed by the invoice, a finance charge will be assessed at the rate of 1.5% per month (18% per annum) or the maximum amount allowed by law from the date of the invoice. I/We understand and agree that in the event my account is placed in the hands of an attorney for collection, I/We agree to pay thirty (30) percent on both principal and interest as attorney's fees.
And any propane, butane or related tangible personal property as received from you will be purchase for use as follows:
In consideration of, and as an inducement for, United Liquid Gas Company dba United Pacific Energy hereby enters into certain agreements with: (hereafter referred to as “Debtor”), and in the further consideration of, and as a further inducement for, any credit extended, to be extended or continued, or any other financial accommodations given or continued by United Pacific Energy to Debtor, the undersigned (hereafter referred to as “Guarantor”) hereby absolutely and unconditionally guarantees the prompt payment of all indebtedness or liabilities according to the terms of any and all such agreements or such extensions of credit, whether secured or unsecured, heretofore or hereafter incurred by Debtor to United Pacific Energy. Such indebtedness or liabilities may include, but are not limited to, monies now owning or that may hereafter become owing:
1) On open account, whether billed or unbilled;
2) For services rendered or to be rendered;
3) For merchandise or products sold or to be sold;
4) For rentals and other obligations under any lease; and
5) On notes, checks, drafts and any other instrument for the payment of money executed, or to be executed or endorsed, and delivered by Debtor to United Pacific Energy.
Guarantor agrees that United Pacific Energy may in its absolute discretion and without prejudice or in any way limiting or diminishing the liability of the Guarantor under this guaranty:
1) Extend credit to the Debtor in such amount and at such times as United Pacific Energy may determine, whther for a greater or lesser amount than now exists, and whether United Pacific Energy has knowledge of facts with respect to Debtor which might be construed as materially prejudicial to the interest of the Guarantor;
2) Grant extensions of time or other indulgences;
3) Take, modify, alter, release, reconvey, exchange or renew any security;
4) Accept or make compositions of other arrangements, or file or refrain from filing a claim in any bankruptcy proceeding of the Debtor or other Guarantor;
5) Realize on any indebtedness
6) Take any checks, notes or other obligations, secured or unsecured in any amount, purportedly in payment of the whole or any part of any indebtedness owed by Debtor; and
7) Otherwise deal with the Debtor and co-guarantor other parties and security as United Pacific Energy may deem expedient.
This shall be a general and continuing guaranty and shall cover all indebtedness and liabilities of the Debtor, including those obligations incurred up to such time as United Pacific Energy shall have actually received written notice of revocation of this guaranty by certified mail and address to United Pacific Energy, PO Box 6976, Auburn, CA 95604. Such revocation shall apply only to such agreements, leases, extensions of credit, or other indebtedness or obligations entered into or created subsequent to the date of receipt of such notice or revocation, and shall not apply to indebtedness thereafter becoming due and payable under agreements, leases, sales or other obligation entered into prior to such revocation. Any payments made after receipt of such notice of revocation shall be applied as United Pacific Energy may elect.
This guaranty shall secure any balance due or owing from time to time and at any time from the Debtor to United Pacific Energy, notwithstanding any payments from time to time made to United Pacific Energy or any settlement of account, and no payments made by or on behalf of the Guarantor to United Pacific Energy shall be held to discharge or diminish the continuing liability of the Guarantor hereunder unless written notice is given to United Pacific Energy at the time of making such payments that the same are being made for the purpose of liquidating such liability. Until full payment of all indebtedness and liabilities of the Debtor is paid to United Pacific Energy, the Guarantor waives all right of subrogation and benefit of or right to participate in any security now or hereafter held by United Pacific Energy.
All demands, presentments, notices of protest and of dishonor, and notices of every kind of nature, including those of any action or non-action on the part of the debtor, United Pacific Energy, any co-guarantor, or any credit of the Debtor are expressly waived by the Guarantor. The Guarantor expressly waives the right to require United Pacific Energy to proceed against the Debtor, or any co-guarantor or to proceed against or apply any security it may hold, and waives the right to require United Pacific Energy to pursue any other remedy for the benefit of the Guarantor, and agrees that United Pacific Energy may proceed against the Guarantor for the amount hereby guaranteed without taking any action against the Debtor, or any co-guarantor and without proceeding against or applying any security it may hold.
All debts and liabilities, present and future, of the Debtor to the Guarantor, or any of them, are hereby postponed to the liabilities of the Debtor to United Pacific Energy, and all monies received by Guarantor or its representatives, successors or assigns thereon shall be received as trustees for United Pacific Energy and shall be paid over to United Pacific Energy. Further, upon any liquidation or distribution of assets of the Debtor, Guarantor agrees to assign to United Pacific Energy all claims on account of all such debts and liabilities, referred to in this paragraph, and United Pacific Energy shall receive all dividends and payments on such debts and liabilities until payment in full of all liabilities of the Debtor are paid to United Pacific Energy.
Guarantor irrevocably waives, disclaims and relinquishes all claims against the Debtor, which Guarantor otherwise has or would have by virtue of having executed this Guaranty, specifically including, but not limited to all rights of indemnity, contribution or exoneration. Guarantor expressly subordinates any claim against Debtor upon any account whatsoever to any claim that United Pacific Energy may have against Debtor at any time and for any reason.
When the Debtor is a partnership, LLC or any other association, this guaranty is to extend to the person or persons for the time being and from time to time carrying on the business now conducted by the Debtor, notwithstanding any change or changes in the name or membership of the Debtor’s firm.
The Guarantor agrees to pay all attorneys’ fees, costs of suit and expenses incurred by United Pacific Energy in connection with this guaranty or in the collection of any of said indebtedness or liabilities from the Debtor of the Guarantor. This guaranty shall inure to the benefit of and bind the heirs, administrators, executors, successors and assigns of United Pacific Energy and each of the Guarantors, and shall be construed as the joint and several obligation of each of the Guarantors where there is more than one.
This guaranty shall be construed in accordance with the laws of the State of California. Notice of acceptance of this guaranty is hereby waived. This agreement contains the entire guaranty agreement between United Pacific Energy and Guarantor. Guarantor declares that this is a voluntary and unconditional guaranty and Guarantor does not rely in whole or in part on any oral representation of any kind whatsoever which may be made by any representative of United Pacific Energy in the execution of this agreement.
In witness whereof, Guarantor has duly executed this guaranty and has caused its authorized representative to sign this guaranty as of: