In consideration of the above named Landlord entering into the Tenancy Agreement in respect of the above
named Rented premises with the above named Tenant the Guarantor hereby agrees with the Landlord, its successors and
assigns, that if default shall at any time be made by the Tenant in payment of monthly rent or the performance of the
Tenants legal agreement set forth in the Tenancy Agreement the Guarantor will pay the said Monthly Rental and shall
abide by all rules and regulations set forth in the Tenancy Agreement and shall compensate the Landlord for any damages
that may arise in consequence of the Tenants default including payment of legal fees in a solicitor and client basis. The
liability of the guarantor hereunder shall not be released, discharged, or limited by any extension of time or forbearance
granted to the Tenant or by any variation in or departure from the terms of the Tenancy Agreement. The Landlord shall
not be bound to exhaust its recourse or remedies against the Tenant Agreement. The Landlord shall not be bound to
exhaust its recourse or remedies against the Tenant before pursuing and enforcing its right against the guarantor. Nothing
but payment and satisfaction in full of all monthly rentals and other sums and the due performance of all agreements in
the Tenancy Agreement until lawful termination of the Tenancy Agreement shall release the Guarantor from this
Guarantee.
If during the Tenancy Agreement the Tenant is declared bankrupt or if the Tenancy Agreement is terminated
other than by the Landlord, the Guarantor shall accept from the Landlord a Tenancy Agreement of the Rented Premises
(hereafter called the “New Tenancy Agreement”) for a term equal in duration to the remainder of the term of the Tenancy
Agreement from the date of surrender, at the same monthly rental and with the same legal agreements as are reserved and
contained in the Tenancy Agreement. If the Guarantor fails to execute and return such New Tenancy Agreement within
seven days after such tender the Guarantor shall become liable to pay to the Landlord damages in an amount equal to the
entire monthly rental and additional rent reserved by the New Tenancy Agreement.
The above named tenant has acknowledged upon application for the rental at the above mentioned address that it
is asked as a prerequisite for acceptance of application and post dated cheques for the entire term of the tenancy to be
submitted to the above mentioned Landlord, or his representatives or agents, for the convenience of all parties involved in
the Tenancy Agreement. The Guarantor hereby acknowledges that if for any reason the Tenant can not submit post dated
cheques, the Guarantor will do so.
All such liability of the Guarantor shall not be diminished or affected by the Landlord renting the demised
premise or any part of the demised premises to another Tenant(s) and receiving rent therefrom. The Landlord will apply
any amount received from such renting in reduction of the amount to be paid by or due from the Guarantor.
The Guarantor shall continue to be liable and bound by this Guarantee during any renewals and extensions
statutory or otherwise, of the term of this Tenancy Agreement. This Guarantee shall be binding upon the heirs, executors,
administrators, personal representatives, successors and assigns of the Guarantor.
