§200.ILLUSTRATION D. Broker Guaranty of Performance

            For value received ______(name of guarantor)______, located at _____(address) ______, absolutely and unconditionally guarantees the performance by broker, ____(name of broker)___, of all obligations under the Illinois Franchise Disclosure Act and Rules, incurred in the sale of franchises in the State of _______________ and any underlying contractual responsibilities resulting from the sale of franchises occurring after this date with franchisees under the jurisdiction of the Illinois Franchise Disclosure Act, as the same have been or may hereafter be amended, modified, renewed or extended from time to time.  This guaranty shall continue in force until all such obligations of broker shall have been satisfied or until such liability of broker to such franchisees has been completely discharged, whichever first occurs.  Guarantor shall not be discharged from liability hereunder as long as any such claim by a franchisee against broker remains outstanding. Notice of acceptance is waived.  Notice of default on the part of broker is not waived.  This guaranty shall be binding upon guarantor, its successors and assigns.

 

            In witness whereof, guarantor has, by a duly authorized officer, executed this guarantee at, this ______ day of _________________, ______.

 

 

 

ATTEST

		Guarantor
	By:
	Title:

 

(Source:  Amended at 23 Ill. Reg. 11561, effective September 7, 1999)