To induce approval of this Credit Application, and in consideration for Baltimore Recycling Center, LLC extending credit to the above named Applicant, we, the undersigned, do, hereby jointly, severally and personally guarantee the prompt and timely payment of all monies due Baltimore Recycling Center, LLC from the Applicant as a result of credit extended by Baltimore Recycling Center, LLC, to said Applicant, and we hereby agree to indemnify Baltimore Recycling Center, LLC against any and all damage, loss, expense (including attorney's fees) and/or liability sustained by Baltimore Recycling Center, LLC by reason of, or related to, the Applicant's failure to pay all monies owed to Baltimore Recycling Center, LLC, when due. Baltimore Recycling Center, LLC may enforce this Personal Guaranty against the undersigned or any of them, jointly or severally, whether or not any action is taken by Baltimore Recycling Center, LLC against the Applicant.
This Personal Guaranty is continuing in character and can be terminated only by written notice by registered or certified mail to Baltimore Recycling Center, LLC, P.O. Box 18408, Baltimore, Maryland 21237 and given thirty (30) days in advance of such termination. This Personal Guaranty shall bind our respective heirs, administrators, personal representatives, successors and assigns, and shall ensure to the benefit of Baltimore Recycling Center, LLC, successors and assigns. Should any payment required of the above Applicant hereunder not be made when due, the undersigned agrees to pay in addition to the amount due, any and all costs incurred by Baltimore Recycling Center, LLC, including reasonable attorney's fees.