Preview
FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020
EXHIBIT B
FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020
NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020
GUARANTY
DATED: December 27, 2018
BORROWER: LEGACY INV. & MANAGEMENT GROUP, LLC
50 Clinton Street, Suite 99, Hempstead, NY 11550
GUARANTOR: NELSON HERNANDEZ
LENDER: LOAN FUNDER LLC, SERIES 5917
645 Madison Avenue, 19th Floor
New York, NY 10022
PROPERTY: 572 Clark Place, Uniondale, NY 11553
Section 50 Block 384 Lot 17
LOAN AMOUNT: $240,300.00
WHEREAS, LEGACY INV. & MANAGEMENT GROUP, LLC, a New York Limited
Liability Company, located at 50 Clinton Street, Suite 99, Hempstead, NY 11550 ("Borrower")
has requested that Lender loan to BO1Tower the sum of $240,300.00 (the "Loan") with respect to
certain premises known as 572 Clark Place, Uniondale, NY 11553, more fully described in
Schedule A annexed hereto, and the improvements situated thereon (such premises and
improvements are collectively hereinafter referred to as the "Premises"); and
WHEREAS, the Loan is to be evidenced by that certain Mortgage Note of even date
herewith made by Borrower to Lender ("Note") and secured by that certain Mortgage of even
date herewith encumbering the Premises ("Mortgage"); and
WHEREAS, as part of the consideration for granting the Loan, Borrower has agreed to
procure and deliver to Lender this Guaranty; and
WHEREAS, Bonower and Guarantors will derive substantial benefit from the making
of the Loan; and
WHEREAS, Lender has declined to grant the Loan unless this Guaranty isduly executed
by Guarantors and delivered to Lender.
NOW, THEREFORE, to induce Lender to make the Loan, and in father consideration
of the sum of ten dollars ($10.00) and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Guarantor agrees as follows:
(1) Guarantor warrants and represents that the making and performance of this
Guaranty by Guarantors will not result in any breach of any term, condition or provision of,
or constitute a default under any contract, agreement or other instrument to which Guarantor
is a party or any order, writ, injunction or decree of any court or any commission, board or
other administrative agency entered in any proceedings to which Guarantor is a party or by
which Guarantor may be bound.
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Old Republic Title Insurance Company
TitleNumber: BR40319N
Page 1
SCHEDULE A DESCRIPTION
ALL that certain plot,piece or parcel of land, with the buildings and improvements thereon
erected, situate, lying and being in Uniondale, Town ofHempstead, County of Nassau and
State ofNew York, by Lot Numbered 17 in Block 384 on a certain map entitled,"Map of
Uniondale Villas,situated at Uniondale, Town of Hempstead, Nassau County, New York,
1947"
surveyed by William K. Parry, Inc.,October 15, and filedin the Office of the Clerk of
the County of Nassau December 17, 1947 as Map #4479 bounded and described
according to said map as follows:
BEGINNING at a point on the Westerly side of Clark Place (formerly Oak Place), distant
161.03 feet Northerly from the corner formed by the intersection of the Northerly side of
Jerusalem Avenue with the Westerly side of Clark Place (formerly Oak Place);
RUNNING THENCE North 76 degrees 43 minutes 20 seconds West, a distance of 100
feet;
THENCE North 13 degrees 16 minutes 40 seconds East, a distance of 50 feet;
THENCE South 76 degrees 43 minutes 20 seconds East, a distance of 100 feetto the
Westerly side of Clark Place (formerly Oak Place):
THENCE South 13 degrees 16 minutes 40 seconds West and along the Westerly side of
Clark Place (formerly Oak Place), a distance of 50 feet to the point or place of
BEGINNING.
Said premises being known as: 572 Clark Place, Uniondale
Sec: 50 Block: 384 Lot: 17
1
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(2a) Guarantor hereby unconditionally, absolutely and irrevocably guarantees to
Lender the punctual, prompt and complete payment of (i)the outstanding Indebtedness (as
hereinafter defined) and (ii)the interest which is due and payable on the amount set forth in (i),
itbeing expressly understood and agreed thatthis is a continuing Guaranty and an instrument for
the payment of money only, and that the obligations of Guarantor are and shall be absolute,
unconditional and ilTevocable under any and all circumstances without regard to the legality,
binding effect, validity, regularity, or enforceability of the Note, Mortgage, or any other
documents executed in connection herewith or therewith, a true copy of each of such documents
Guarantor hereby acknowledges having received, reviewed and approved.
(2b) Guarantor agrees that his liabilitiesunder this Guaranty shall be unaffected,
regardless of whether notice or consideration is given or his fluther consent obtained, by (i) any
amendment, supplement, modification or other change in the Note or Mortgage, or any other
instrument made to or with Lender by Borrower or any person or entity who succeeds Borrower
as owner of the Premises, or any part thereof, (ii)any extension of time for the observance or
performance required thereby, (iii)
any sale, assignment or foreclosure oftheNote and Mortgage,
or any sale of the Premises, or any part thereof, (iv) exculpatory provisions, ifany, in any of such
instruments limiting Lender's recourse to property encumbered by the Mortgage or any other
security or limiting Lender's rights to enforce a deficiency judgment against Borrower, (v) any
release of Bon ower or any Guarantor or any other person or entity fiom perfonnance or
observance of any of the agreements, terms, covenants or conditions contamed in any of such
instruments whether by operation of law or otherwise, (vi) Lender's failure to record the
Mortgage or to otherwise perfect, protect, secure or insure ariy security interest or lien given as
security for the Loan, (vii) any recovery from any Guarantor hereunder or under any other
guaranty or guaranties executed in connection with the Loan, (viii)the accuracy or inaccuracy of
any representations or warranties made by Borrower in the Mortgage or by Guarantor in this
Guaranty or in any other documents executed by Guarantor in connection with the Loan, (ix)any
bankruptcy. insolvency, liquidation, moratorium, reorganization, arrangement for the benefit of
creditors, receivership, trusteeship or other law of like import affecting Borrower, the Premises,
any guarantor or any of their respective successors and assigns, including, but not limited to, any
automatic stay granted pursuant to any provision of a bankruptcy or similar law, (x)
notwithstanding any provision to the contrary contained or implied in the Mortgage or by law or
in equity, any recovery as a resultof the exercise of any of Lender's rights or remedies under the
Mortgage unless as a result thereof Lender has been paid the entire amount owed to Lender under
the Mortgage (hereinafter such obligations owed to Lender are referred to as the "Indebtedness")
and (xi) any defense given to a guarantor or surety at law or in equity.
(3) Guarantor agrees that to the extent any amounts (i)are collected by Lender in
connection with any other guaranty or guaranties which are executed by Guarantor or any other
person or entity which may have or may hereafter guarantee allor part of the Indebtedness or (ii)
are paid to Lender by guarantor or by any person or entity which may have or may hereafter
execute any guaranty or guaranties of all or part of the Indebtedness, that regardless of the way
such payments or amounts are characterized by Guarantor or any other person or entity,Lender
shall have the right, but not the obligation, to apply such amounts first to that part of the
Indebtedness, if any, which is not covered by thisGuaranty but which is covered by any other
guaranty or guaranties of allor part of the Indebtedness.
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(4) Guarantor waives any and alllegal requirements that Lender shall institute any
action or proceedings at law or in equity against Borrower, or anyone else, or exhaust itsremedies
against Borrower, or anyone else in respect of the Loan, Mortgage or in respect of any other
security held by Lender as a condition precedent to bringing an action against Guarantor upon
this Guaranty. All remedies afforded to Lender by reason of this Guaranty are separate and
cumulative remedies and no one of such rernedies, whether exercised by Leader or not, shall be
deemed to be an exclusion of any of the other remedies available to Lender and shallnot limit or
prejudice any other legal or equitable remedy which Lender may have. This is a guaranty of
payment and not of collection.
(5) Guarantor agrees that until each and every tenn, covenant and condition of this
Guaranty is fully performed and fulfilled,he shall not be released by any act or thing which
might, but for this provision, be deemed a legal or equitable discharge of a surety or a guarantor,
or by reason of any waiver, extension, modification, forbearance or delay or other act or omission
of Lender or its failure to proceed promptly or otherwise, or by reason of any action taken or
omitted or circumstance which may or might vary the risk or affect rights or remedies by reason
of any further dealings between Borrower and Lender, whether relating to the Loan, Mortgage
or otherwise, and Guarantor waives and surrenders any defense to his liabilities
hereunder based
upon any of the foregoing acts, omissions, agreements, waivers or any of them and also waives
and relinquishes all other rights and remedies accorded by applicable law to guaranto.rs and
sureties, it being the purpose and intent of this Guaranty that the obligations of Guarantor
hereunder is and that this Guaranty is absolute, irrevocable and unconditional under any and all
circumstances. No amendment, modification, discharge, waiver or release of thisGuaranty shall
be established by conduct. custom or course or business.
(6) Guarantor waives notice of acceptance of this Guaranty and of presentment for
payment, demand, protest, and notice of protest and of dishonor, notices of default and allother
notices of every kind and description now or hereafter provided by any constitution, statute or
rule of law.
(7) If Guarantor shall advance or become obligated to pay any sums with respect to
this Guaranty, Mortgage or the Loan, or for any other purpose in connection with the Premises,
or any part thereof, or if for any reason whatsoever Borrower or any subsequent owner of the
Premises, or any part thereof, isnow, or shallhereafter become, indebted to Guarantor, Guarantor
agrees that the amount of such sums and of such indebtedness and allinterest thereon shall at all
times be subordinate as to lien, time of payment and in all other respects to allsums, including
principal, interest and other amounts at any time owing to Lender under the Loan or the
obligations evidencing the same or the Mortgage and that Guarantor shall not be entitled to
enforce or receive payment thereof until the Indebtedness is paid in full Nothing herein
contained isintended or shall be construed to give Guarantor any right of subrogation in or under
the Loan, the obligations evidencing the same, the Mortgage or any right to participate in any
way therein or in the right,title or interestof Lender in or to the Premises, or any part thereof, or
other mortgaged property, notwithstanding any payment made by Guarantor with respect to this
Guaranty, the Mortgage or Loan, allsuch rights o f subrogation and participation being expressly
waived and released untilthe indebtedness ispaid in full.
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(8) Any notice, demand or request by Lender to Guarantor shall be in writing and
shall be deemed to have been duly given or made one (1) business day following the date when
sent by any reputable overnight courier addressed to Guarantor at his address set forth at the foot
hereof.
(9) (a) This Guaranty isto be construed according to the laws ofthe State ofNew
York. Without limiting other methods of obtaining jurisdiction, Guarantor hereby agrees to
submit to personal jurisdiction of the courts of the State of New York in any action or proceeding
arising out of this Guaranty. In ftutherance of such agreement, Guarantor hereby agrees and
consents thatany process or notice of motion or other application to any such court in connection
with any such action or proceeding may be served upon the undersigned by personal service
within or without the jurisdiction of any such court. The foregoing shall not be deemed a
limitation of Lender's right to bring an action based on this Guaranty in any other jurisdiction.
(b) In the event any action or proceeding be brought by Lender to enforce
this Guaranty, or by or against Guarantor or Lender, or both, or Lender appears in any action or
proceeding, in such event, Guarantor agrees to pay to Lender reasonable attomey's fees and court
costs including attorney's fees and court costs at trialor on appeal, together with allinterest at the
default rate set forthin the Mortgage from the date demand is made by Lender on this Guaranty
until payment in full isreceived.
(10) Guarantor represents and warrants that:
(a) There are no actions, suits or proceedings pending or, to the knowledge
of Guarantor, threatened against or affecting Guarantor or the properties of Guarantor before any
court, govemmental department, arbitrator, commission, board, bureau, agency or
instrumentality, domestic or foreign, which, ifdetermined adversely to Guarantor, would have a
material adverse effect on the financial condition, business, properties or operations of Guarantor.
(b) Neither the business nor properties of Guarantor are affected by a fire,
explosion, strike,lockout, or other labor dispute, drought, stonn, earthquake, acts of God or of
the public enemy or other casualty (whether or not covered by insurance) which would have a
material adverse effect upon the financial condition, business, properties or operations of
Guarantor.
(c) Guarantor isnot a party to any indenture, loan or credit agreement or any
lease or other agreement or instrument or subject to any other restriction which would have a
material adverse effect on Guarantor's abilityto carry out his obligations under this Guaranty.
(d) No information, exhibit or report furnished by Guarantor to Lender in
connection with the negotiation of thisGuaranty contained as of the date of the furnishing thereof
any material misstatement of fact or omitted to state a material fact necessary to make the
statements contained therein not misleading.
(e) Guarantor has the fullpower. legal right, authority and requisitecapacity
to execute and deliver this Guaranty, and to observe, perform and fulfillthe provisions hereof.
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(11) Guarantor agrees to ftu-nish Lender with the infonnation with respect to the
business, properties, operations or condition, financial or otherwise, of Guarantor as Lender may
from time to time reasonably request.
(12) Should Lender be obligated by any bankruptcy or other law to repay to Borrower
or Guarantor or to any trustee, receiver or other representative of any of them, any amounts
previously paid in respect of this Guaranty, then this Guaranty shall be reinstated to include the
amount of such repayment. Lender shall not be required to litigate or otherwise dispute its
obligation to make such repayments if,in good faith and on the advice of counsel, itbelieves that
such obligation exists.
(13) If any action, suit or proceeding which either directly or indirectly involves the
Guaranty is commenced, Guarantor waives his right to any jury trial in connection therewith.
(14) Ifany of the provisions of this Guaranty, or the application thereto to any person
or circumstances, shall, to any extent, be invalid or unenforceable, the remainder of this
Guaranty, or the application of such provision to persons or circumstances other than those as to
whom or which itisheld invalid or enforceable, shallnot be affected thereby, and every provision
of this Guaranty shall be valid and enforceable to the fullest extent permitted by law.
(15) Guarantor agrees to indemnify Lender against any reasonable loss, cost or
expense in the nature of costs, expenses and reasonable attomey's fees and expenses caused by
the assertion by Guarantor of any unsuccessful defense to his obligations under this Guaranty.
Guarantor waives any right or claim of right to cause a marshaling of Borrower's assets or to
cause Lender to proceed against any security for the Mortgage before proceeding against
Guarantor. Guarantor agrees that any payments required to be made by him hereunder shall
become due in accordance with the Mortgage immediately upon the happening of any default
following the expiration of any applicable grace period under the Mortgage and without
presentment of the Mortgage to Borrower, demand for payment or protest thereof, or notice or
nonpayment or protest thereof.
(16) This Guaranty is separate, distinct and in addition to any liability or obligations
that Guarantor may have under any other guaranty executed by Guarantor in connection with any
other loan from Lender to Borrower and no other agreement or guaranty executed in connection
with the Loan shall act to reduce or set off Guarantor's liabilityhereunder.
(17) This Guaranty shall be binding upon the heirs, legal representatives, successors
and assigns of Guarantor and shall inure to the benefit of Lender and itsAffiliates, successors
and assigns.
(18) This Guaranty may not be modified, amended, discharged or otherwise changed
orally, but only by an instrument in writing which is executed and delivered by Guarantor and
Lender.
(19) Guarantor acknowledges that he has received a true copy of this Guaranty, and
agrees that he has executed and delivered this Guaranty to Lender, intending that Lender
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materially and justifiably rely thereon in connection with the Loan.
(20) In interpreting this Guaranty, the singular shall include the plural; the plural shall
include the singular; and the use of any gender shallinclude allgenders.
IN WITNESS WHEREOF, Guarantor has duly executed this Guaranty as of the day and year
first above written.
Guarantor:
N L Oll HERN.ANDEZ
STATE OF NEW YORK )
) ss.:
COUNTY OF NASSAU )
On the 27th day of December in the year 2018 before rne, the undersigned, personally
appeared NELSON HERNANDEZ, personally known to me or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to the within instrument
and acknowledged to me that he executed the same in his capacity, and that by his signature
on the instrument, the individual, or the person upon behalf of which the individual acted,
executed the instrument.
Notary Public
Preview
FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 EXHIBIT B FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 GUARANTY DATED: December 27, 2018 BORROWER: LEGACY INV. & MANAGEMENT GROUP, LLC 50 Clinton Street, Suite 99, Hempstead, NY 11550 GUARANTOR: NELSON HERNANDEZ LENDER: LOAN FUNDER LLC, SERIES 5917 645 Madison Avenue, 19th Floor New York, NY 10022 PROPERTY: 572 Clark Place, Uniondale, NY 11553 Section 50 Block 384 Lot 17 LOAN AMOUNT: $240,300.00 WHEREAS, LEGACY INV. & MANAGEMENT GROUP, LLC, a New York Limited Liability Company, located at 50 Clinton Street, Suite 99, Hempstead, NY 11550 ("Borrower") has requested that Lender loan to BO1Tower the sum of $240,300.00 (the "Loan") with respect to certain premises known as 572 Clark Place, Uniondale, NY 11553, more fully described in Schedule A annexed hereto, and the improvements situated thereon (such premises and improvements are collectively hereinafter referred to as the "Premises"); and WHEREAS, the Loan is to be evidenced by that certain Mortgage Note of even date herewith made by Borrower to Lender ("Note") and secured by that certain Mortgage of even date herewith encumbering the Premises ("Mortgage"); and WHEREAS, as part of the consideration for granting the Loan, Borrower has agreed to procure and deliver to Lender this Guaranty; and WHEREAS, Bonower and Guarantors will derive substantial benefit from the making of the Loan; and WHEREAS, Lender has declined to grant the Loan unless this Guaranty isduly executed by Guarantors and delivered to Lender. NOW, THEREFORE, to induce Lender to make the Loan, and in father consideration of the sum of ten dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Guarantor agrees as follows: (1) Guarantor warrants and represents that the making and performance of this Guaranty by Guarantors will not result in any breach of any term, condition or provision of, or constitute a default under any contract, agreement or other instrument to which Guarantor is a party or any order, writ, injunction or decree of any court or any commission, board or other administrative agency entered in any proceedings to which Guarantor is a party or by which Guarantor may be bound. FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 Old Republic Title Insurance Company TitleNumber: BR40319N Page 1 SCHEDULE A DESCRIPTION ALL that certain plot,piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in Uniondale, Town ofHempstead, County of Nassau and State ofNew York, by Lot Numbered 17 in Block 384 on a certain map entitled,"Map of Uniondale Villas,situated at Uniondale, Town of Hempstead, Nassau County, New York, 1947" surveyed by William K. Parry, Inc.,October 15, and filedin the Office of the Clerk of the County of Nassau December 17, 1947 as Map #4479 bounded and described according to said map as follows: BEGINNING at a point on the Westerly side of Clark Place (formerly Oak Place), distant 161.03 feet Northerly from the corner formed by the intersection of the Northerly side of Jerusalem Avenue with the Westerly side of Clark Place (formerly Oak Place); RUNNING THENCE North 76 degrees 43 minutes 20 seconds West, a distance of 100 feet; THENCE North 13 degrees 16 minutes 40 seconds East, a distance of 50 feet; THENCE South 76 degrees 43 minutes 20 seconds East, a distance of 100 feetto the Westerly side of Clark Place (formerly Oak Place): THENCE South 13 degrees 16 minutes 40 seconds West and along the Westerly side of Clark Place (formerly Oak Place), a distance of 50 feet to the point or place of BEGINNING. Said premises being known as: 572 Clark Place, Uniondale Sec: 50 Block: 384 Lot: 17 1 FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 (2a) Guarantor hereby unconditionally, absolutely and irrevocably guarantees to Lender the punctual, prompt and complete payment of (i)the outstanding Indebtedness (as hereinafter defined) and (ii)the interest which is due and payable on the amount set forth in (i), itbeing expressly understood and agreed thatthis is a continuing Guaranty and an instrument for the payment of money only, and that the obligations of Guarantor are and shall be absolute, unconditional and ilTevocable under any and all circumstances without regard to the legality, binding effect, validity, regularity, or enforceability of the Note, Mortgage, or any other documents executed in connection herewith or therewith, a true copy of each of such documents Guarantor hereby acknowledges having received, reviewed and approved. (2b) Guarantor agrees that his liabilitiesunder this Guaranty shall be unaffected, regardless of whether notice or consideration is given or his fluther consent obtained, by (i) any amendment, supplement, modification or other change in the Note or Mortgage, or any other instrument made to or with Lender by Borrower or any person or entity who succeeds Borrower as owner of the Premises, or any part thereof, (ii)any extension of time for the observance or performance required thereby, (iii) any sale, assignment or foreclosure oftheNote and Mortgage, or any sale of the Premises, or any part thereof, (iv) exculpatory provisions, ifany, in any of such instruments limiting Lender's recourse to property encumbered by the Mortgage or any other security or limiting Lender's rights to enforce a deficiency judgment against Borrower, (v) any release of Bon ower or any Guarantor or any other person or entity fiom perfonnance or observance of any of the agreements, terms, covenants or conditions contamed in any of such instruments whether by operation of law or otherwise, (vi) Lender's failure to record the Mortgage or to otherwise perfect, protect, secure or insure ariy security interest or lien given as security for the Loan, (vii) any recovery from any Guarantor hereunder or under any other guaranty or guaranties executed in connection with the Loan, (viii)the accuracy or inaccuracy of any representations or warranties made by Borrower in the Mortgage or by Guarantor in this Guaranty or in any other documents executed by Guarantor in connection with the Loan, (ix)any bankruptcy. insolvency, liquidation, moratorium, reorganization, arrangement for the benefit of creditors, receivership, trusteeship or other law of like import affecting Borrower, the Premises, any guarantor or any of their respective successors and assigns, including, but not limited to, any automatic stay granted pursuant to any provision of a bankruptcy or similar law, (x) notwithstanding any provision to the contrary contained or implied in the Mortgage or by law or in equity, any recovery as a resultof the exercise of any of Lender's rights or remedies under the Mortgage unless as a result thereof Lender has been paid the entire amount owed to Lender under the Mortgage (hereinafter such obligations owed to Lender are referred to as the "Indebtedness") and (xi) any defense given to a guarantor or surety at law or in equity. (3) Guarantor agrees that to the extent any amounts (i)are collected by Lender in connection with any other guaranty or guaranties which are executed by Guarantor or any other person or entity which may have or may hereafter guarantee allor part of the Indebtedness or (ii) are paid to Lender by guarantor or by any person or entity which may have or may hereafter execute any guaranty or guaranties of all or part of the Indebtedness, that regardless of the way such payments or amounts are characterized by Guarantor or any other person or entity,Lender shall have the right, but not the obligation, to apply such amounts first to that part of the Indebtedness, if any, which is not covered by thisGuaranty but which is covered by any other guaranty or guaranties of allor part of the Indebtedness. FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 (4) Guarantor waives any and alllegal requirements that Lender shall institute any action or proceedings at law or in equity against Borrower, or anyone else, or exhaust itsremedies against Borrower, or anyone else in respect of the Loan, Mortgage or in respect of any other security held by Lender as a condition precedent to bringing an action against Guarantor upon this Guaranty. All remedies afforded to Lender by reason of this Guaranty are separate and cumulative remedies and no one of such rernedies, whether exercised by Leader or not, shall be deemed to be an exclusion of any of the other remedies available to Lender and shallnot limit or prejudice any other legal or equitable remedy which Lender may have. This is a guaranty of payment and not of collection. (5) Guarantor agrees that until each and every tenn, covenant and condition of this Guaranty is fully performed and fulfilled,he shall not be released by any act or thing which might, but for this provision, be deemed a legal or equitable discharge of a surety or a guarantor, or by reason of any waiver, extension, modification, forbearance or delay or other act or omission of Lender or its failure to proceed promptly or otherwise, or by reason of any action taken or omitted or circumstance which may or might vary the risk or affect rights or remedies by reason of any further dealings between Borrower and Lender, whether relating to the Loan, Mortgage or otherwise, and Guarantor waives and surrenders any defense to his liabilities hereunder based upon any of the foregoing acts, omissions, agreements, waivers or any of them and also waives and relinquishes all other rights and remedies accorded by applicable law to guaranto.rs and sureties, it being the purpose and intent of this Guaranty that the obligations of Guarantor hereunder is and that this Guaranty is absolute, irrevocable and unconditional under any and all circumstances. No amendment, modification, discharge, waiver or release of thisGuaranty shall be established by conduct. custom or course or business. (6) Guarantor waives notice of acceptance of this Guaranty and of presentment for payment, demand, protest, and notice of protest and of dishonor, notices of default and allother notices of every kind and description now or hereafter provided by any constitution, statute or rule of law. (7) If Guarantor shall advance or become obligated to pay any sums with respect to this Guaranty, Mortgage or the Loan, or for any other purpose in connection with the Premises, or any part thereof, or if for any reason whatsoever Borrower or any subsequent owner of the Premises, or any part thereof, isnow, or shallhereafter become, indebted to Guarantor, Guarantor agrees that the amount of such sums and of such indebtedness and allinterest thereon shall at all times be subordinate as to lien, time of payment and in all other respects to allsums, including principal, interest and other amounts at any time owing to Lender under the Loan or the obligations evidencing the same or the Mortgage and that Guarantor shall not be entitled to enforce or receive payment thereof until the Indebtedness is paid in full Nothing herein contained isintended or shall be construed to give Guarantor any right of subrogation in or under the Loan, the obligations evidencing the same, the Mortgage or any right to participate in any way therein or in the right,title or interestof Lender in or to the Premises, or any part thereof, or other mortgaged property, notwithstanding any payment made by Guarantor with respect to this Guaranty, the Mortgage or Loan, allsuch rights o f subrogation and participation being expressly waived and released untilthe indebtedness ispaid in full. FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 (8) Any notice, demand or request by Lender to Guarantor shall be in writing and shall be deemed to have been duly given or made one (1) business day following the date when sent by any reputable overnight courier addressed to Guarantor at his address set forth at the foot hereof. (9) (a) This Guaranty isto be construed according to the laws ofthe State ofNew York. Without limiting other methods of obtaining jurisdiction, Guarantor hereby agrees to submit to personal jurisdiction of the courts of the State of New York in any action or proceeding arising out of this Guaranty. In ftutherance of such agreement, Guarantor hereby agrees and consents thatany process or notice of motion or other application to any such court in connection with any such action or proceeding may be served upon the undersigned by personal service within or without the jurisdiction of any such court. The foregoing shall not be deemed a limitation of Lender's right to bring an action based on this Guaranty in any other jurisdiction. (b) In the event any action or proceeding be brought by Lender to enforce this Guaranty, or by or against Guarantor or Lender, or both, or Lender appears in any action or proceeding, in such event, Guarantor agrees to pay to Lender reasonable attomey's fees and court costs including attorney's fees and court costs at trialor on appeal, together with allinterest at the default rate set forthin the Mortgage from the date demand is made by Lender on this Guaranty until payment in full isreceived. (10) Guarantor represents and warrants that: (a) There are no actions, suits or proceedings pending or, to the knowledge of Guarantor, threatened against or affecting Guarantor or the properties of Guarantor before any court, govemmental department, arbitrator, commission, board, bureau, agency or instrumentality, domestic or foreign, which, ifdetermined adversely to Guarantor, would have a material adverse effect on the financial condition, business, properties or operations of Guarantor. (b) Neither the business nor properties of Guarantor are affected by a fire, explosion, strike,lockout, or other labor dispute, drought, stonn, earthquake, acts of God or of the public enemy or other casualty (whether or not covered by insurance) which would have a material adverse effect upon the financial condition, business, properties or operations of Guarantor. (c) Guarantor isnot a party to any indenture, loan or credit agreement or any lease or other agreement or instrument or subject to any other restriction which would have a material adverse effect on Guarantor's abilityto carry out his obligations under this Guaranty. (d) No information, exhibit or report furnished by Guarantor to Lender in connection with the negotiation of thisGuaranty contained as of the date of the furnishing thereof any material misstatement of fact or omitted to state a material fact necessary to make the statements contained therein not misleading. (e) Guarantor has the fullpower. legal right, authority and requisitecapacity to execute and deliver this Guaranty, and to observe, perform and fulfillthe provisions hereof. FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 (11) Guarantor agrees to ftu-nish Lender with the infonnation with respect to the business, properties, operations or condition, financial or otherwise, of Guarantor as Lender may from time to time reasonably request. (12) Should Lender be obligated by any bankruptcy or other law to repay to Borrower or Guarantor or to any trustee, receiver or other representative of any of them, any amounts previously paid in respect of this Guaranty, then this Guaranty shall be reinstated to include the amount of such repayment. Lender shall not be required to litigate or otherwise dispute its obligation to make such repayments if,in good faith and on the advice of counsel, itbelieves that such obligation exists. (13) If any action, suit or proceeding which either directly or indirectly involves the Guaranty is commenced, Guarantor waives his right to any jury trial in connection therewith. (14) Ifany of the provisions of this Guaranty, or the application thereto to any person or circumstances, shall, to any extent, be invalid or unenforceable, the remainder of this Guaranty, or the application of such provision to persons or circumstances other than those as to whom or which itisheld invalid or enforceable, shallnot be affected thereby, and every provision of this Guaranty shall be valid and enforceable to the fullest extent permitted by law. (15) Guarantor agrees to indemnify Lender against any reasonable loss, cost or expense in the nature of costs, expenses and reasonable attomey's fees and expenses caused by the assertion by Guarantor of any unsuccessful defense to his obligations under this Guaranty. Guarantor waives any right or claim of right to cause a marshaling of Borrower's assets or to cause Lender to proceed against any security for the Mortgage before proceeding against Guarantor. Guarantor agrees that any payments required to be made by him hereunder shall become due in accordance with the Mortgage immediately upon the happening of any default following the expiration of any applicable grace period under the Mortgage and without presentment of the Mortgage to Borrower, demand for payment or protest thereof, or notice or nonpayment or protest thereof. (16) This Guaranty is separate, distinct and in addition to any liability or obligations that Guarantor may have under any other guaranty executed by Guarantor in connection with any other loan from Lender to Borrower and no other agreement or guaranty executed in connection with the Loan shall act to reduce or set off Guarantor's liabilityhereunder. (17) This Guaranty shall be binding upon the heirs, legal representatives, successors and assigns of Guarantor and shall inure to the benefit of Lender and itsAffiliates, successors and assigns. (18) This Guaranty may not be modified, amended, discharged or otherwise changed orally, but only by an instrument in writing which is executed and delivered by Guarantor and Lender. (19) Guarantor acknowledges that he has received a true copy of this Guaranty, and agrees that he has executed and delivered this Guaranty to Lender, intending that Lender FILED: NASSAU COUNTY CLERK 12/02/2020 12:26 PM INDEX NO. 613956/2020 NYSCEF DOC. NO. 3 RECEIVED NYSCEF: 12/02/2020 materially and justifiably rely thereon in connection with the Loan. (20) In interpreting this Guaranty, the singular shall include the plural; the plural shall include the singular; and the use of any gender shallinclude allgenders. IN WITNESS WHEREOF, Guarantor has duly executed this Guaranty as of the day and year first above written. Guarantor: N L Oll HERN.ANDEZ STATE OF NEW YORK ) ) ss.: COUNTY OF NASSAU ) On the 27th day of December in the year 2018 before rne, the undersigned, personally appeared NELSON HERNANDEZ, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. Notary Public