Preview
FILED: ONONDAGA COUNTY CLERK 03/19/2024 03:38 PM INDEX NO. 002934/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 03/19/2024
"A"
Exhibit
Promissory Note/Security Agreement/Personal Guaranty
FILED: ONONDAGA COUNTY CLERK 03/19/2024 03:38 PM INDEX NO. 002934/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 03/19/2024
THIS IS A COPY Page 1 of 3
OOCUSignEnvelope ID- E69538CF-9917-4DF2-8445-2798BE8268D3
This Is a copy view of the Authoritative Copy he
AGREEMENT
FINANCING (SoleProprietorship) by the designated CustOdlan
NOTEfSECURITY
PROMISSORY AGREEMENT/PERSONAL GUARANTY
No
Agreement 1288256
COMPLETE NAMEANDADDRESS OF COMPLETE OFGUARANTOR
NAMEANDADDRESS COMPLETE
NAMEANDADDRESS
OFDEBTOR
CREDITOR
BankersHealthcareGroup,LLC WonChee WonChoedfblaWonChoe,SoleProprietor
10234WStateRoad84 2005CanforniaStreet,Apartment12 2005CaliforniaStreet,Apartment12
DayleFL33324 MountainView,CA94040 MountainView,CA94040
(800)990-8401
ThedateofthisProrrissory Agreement/Personal
Note/Security Guaranty(collectively thedateofexecution
-Agreement'Ms areasreflectedabove.
notedbelow.Thepartiesandtheiraddresses
FORCOMMERCIAL PURPOSES ANDVALUERECElVED, Debtordoesherebypromiselo pay to Cieditoror Its Order,at the addresslisted aboveor at such otherlocationas otherwisedesignatedby
Creditor,thetolalsumofOneHundredEighty-SlxThousand,SevenHundredFosty-EightDOLLARSand TwentyCENTS($186,748,20), whichrepresentsthelotalof paymentsof principalplus-nlerestdue
andwhichwillbecome duehereunder fromthedateof thisAgreement untilthematuritydateofthIsAgreement,witchsumsshaltbepayablein monthlyinstallments, as setforth"ntheAddendum hereto,which's
heranby thisreference!n additontothetotalsumof payments
incorporated Debtordoesherebypromiseto payinterestpayable¾mputeddailyontheoutstanding of
principalbalance theAgreement determined
asof thedoseof businessoneachday.commencing onthe fundngdaleand up toone11@month pnortothefirstpaymentdate. "nterim w
interest, henapplicable.
willbedueandpayable onemonth priorto the
firstscheduled
montNy p aymentandwit bededucted f romthearnountf unded 10theDebtor
PAYMENT(S) INTHEAMOUNTOF BEGINNING
ON
DATE WILL BE
THE PAYMENT COMMENCEMENT
60 $3,112,47 REFLECTED VERBALVERIFICATION
ONTHERECORDED
FORM-
PREPAYMENT: PURSUANT TOTHETERMSOFTHISNOTE.DEBTORHASNORIGHTTOPREPAY,INWHOLEORAdPART.FORTHEFIRST6 MONTHS LGAN-CREDITOR,
OFTHISCOMMERCIAL
SUBJECT TOTHETERMSHEREOF, UPONTHEREQUEST WILLAMENDANDAAODIFY
BY DEBTOR, 80 ASTOALLOWTHISCOMMERCIAL
THEAGREEMENT LOANTOBEPREPAID,INWHOLEOR
IN PART,AFTERTHEFEtST6MONTHS.
INTHEEVENTOFA PREPAYMENT PERMITTED UNDER THETERMSOFTHISAGREEMENT, DEBTORSHALLPAYOUTSTANDING PRINCIPAL BALANCE, ACCRUED LNTEREST. ANYMODIFICATION
ANDAMENDMENT FEE,ANDANYOTHEROUTSTANDING FEESOWED.
AUTOMATIC PAYMENT (ACH).All paymentsIn accordance withthis Noreshanbe madein the lormof an ACHtransfer(Arectlyfromthe Desws bgislness account The Deblor'stermina1ion of an ACH
authorizanonwithoutIheCreditorspdorwrittenconsentshallbeconsidered aneventof defaultShouldDeblorterminateanACHauthorization wtththeansentof Creditor.gmadeliverspaymentsbycheckor other
non-ACH fonnof payment,Debtor agrees10 and
paya service,handling accounting e xpensefeeto Creator fromthe
resulting InakingcI a ntpACH payment
in an amoum equal t o fifteenpercent
( 15%) of the
payment thendue.
DS
NOTE:PleaseconstetyourCPAand/orAttomeyIfyoudonotunderstand theterrns,structureandcondilions
regardingthiscernmerdalpronessory note
I,, f¶OMISSORY NOTE (1 have read ang u_!Ldgstand that I am execq ing a promFyory g?oynihild )
DEFINITIONS paper,""instruments-
"Equipment" neansall nowor subsequently usedor boughtforuse by Debtorin Ihebusinessandanfegiscemmz,partsoradditionsallachedor affixedto the property"Chattel
"intangbles" hmts"property
shanhavethesamerneaningasdeGned undertheUniformComrnardal CodeoftheStateof Florida,andshallIndudeaAaccounts (induding.withoutIlmilation,allaccountsreceivable)
and
anhact rightsandtax refunds)andallretum dbr repossessed
generdintangbles(includng.withoutlinutation. goods,allthettelpaper(including,withoutlinstation.leases)andinstruments, andat interestsof
"Proceeds" shallmeanproceedsof anycharacterwhethercashor
Debtorin allguaranlees.securityagreementsandotherpropertysecuringthepayment or performanceof ahlindms underany oftheforegoing.
non-casl\ "Inventory"meansat property-pagtsandaccessories acquiredthroughDebtorsOssiness whelheror notaflixedof attachedin whichDeblornowhasor maysubsequen1ly acquire any right,lille of
receivable" hereatlerreceivedby or belongingto Debtorfor goodssoldby Debtoror
interest"Anxeunts meansanaccounts, agreements, drafts,ordersariddicoveyin 'ec andotherformsoIcbligatonsnowor wig"
forservicesrenderedbyDeblorandanrightsof Debtorearnedor yettobeeamed undercontractstoseAorrenderservices."Good meansthebenefitthattheDebtors acquiresbeyondIheInerevalue
business
propesty· "A"attachedherelo.-All Property"meansall properly
'SpecificProperty"
ofitscapitalsbdt andtangibleassets,asa resultofitsreputation. meansat ofthefocoming AApropertyasdescribed onSchedule
of everydescdp1on.
SECURITY INTEREST. DebtorgranistoCreatora securitytriterestin anof he right,titleandinterestof Deb1orinandto AccountsReceivables, Irwentory.Instruments, Equipment,Intangltiles,Accounts, Chattel
Paper,GoodWil, Speci$cPepertyandABProperty of DeblorAndallproceeds thereof(conectively,
the"Coseleral"),TNssecudtyinterestis grantedto Creditorby Debtortosecureperformance andpayment of all
obligations
anddodehleimess of DebtortoCraillorhereunder andassetforthhereinDebtoragreesto anowcreditortofileaUCC-1Financing Statement in theapproprtage state
PAYMENT OFOBLIGATIONS OFDEBTOR.Debtovshallpayto Creditoranysumdueor thatinaybecomeduepursuantto thisagreementDeblorshallpay toCreditorall amountsduein Iheformof cashand
negoliable lashirmardsDebtorshallhatt theConageral asygnedtoCreditorpursuanttothisagreement in trustforCreditorandDeblorshaApmmptlytumovertheCo1ateral toCreditor.andthepaceedsthereof.
forapplicanon againsttheindebtednese of Debtorto Credilot,whenrequested by CreditorTheorderandInelhodof suchapplicalion againsttheIndebtedness is 10beInthesolediscretion ofCreditor.Debtorshan
Creditorandemand a llexpenses I rddrredor paidby CreditorI n or
exerdsing protecting i ts rights
interests, andremedies u ndert hissecurityagreement plusinterest o nsuchamount attheinaldmum legalrate
pay
DEBTOR'S REPRESENTATONS, WARRANTIES ANDAGREEMENTS. Debtor represents, warrants andagrees thataninformation s uppliedandstatements made by Debtori n any Anancial, credito r atmuneng
statement or spp5canon forcreditpriorto,contemporaneo-usfy with,or subsequent to theexecutionofthissecurityagreement areandshallbeIrue,correct.complete. validandgenuine.DebIorauthorizes Creditor
tofile,atCredtorsoption,allinformation orotherfinandagstatements.Deblorshallpayallcostsof anyfilingsof financingslatements orotherpapers.Debtorshallpaypriorto delinquency alltaxes, c hargesliens
andassessments againsttheCotateral;andonDebtor'sfailuretodo so, Credilor a t itsoptioninaypayany of suchitemsandshallbethesolejudge, a sbetween it and Debtor,o fthe legalityor validitythereofand
theamountnecessary to discharge.th9mSuchpaymentshallbecornepadof theIndebtedness securedby this securityagreement andshallbe paidto Creditorimmediately andwithoutdemand,with nterest
thereonatthemaximum legalrate. DebIorshall,atalltimes,keeptheCollateral freefromanyadverseNen,securityinterest, orencumbrance andingoodouderandrepairandwlAnotwasteor destroythe Collateral
or anypartthmeof;andDeb1or willnotuseotherCoHateral in violationof anystatuteor ordinance; andCreditormayexamineandinspecttheCoUateral at any lirne.whereverlocated Debtorshallprovideall
documents noramary to perfect.p rotect a ndpreserve Creditor's interests
in the Collateral, Includng providing all financingstatements. D ebtorshallnot. voluntarilyor involuntarily,subjecttheCollateralor its
proceeds, or agowIheCollageral or its proceedsto besubjectedlo any interestof anytransleree,buyer.securedparty,encumbrance, levy.execution,altachment, gamishment or thirdpartyperson Debtors
equiprnent, inverdoryandchiefexecutiveoAices andprincipal placeof business s han at
be located the address setforthabove Deblorshall notifyCreditor in
promptly writing of any changesIn thelocagonof
Debtorspdnciped placeof business,chiefexecutiveofficesor its equipment or inventory,Includngany adationsanddiscontinuances. All provisionsof this FinancingAgreement are incorporated hereinby
reference andshallbeconsidered materialtermsofthisSecurityAgreement
EVENT$OF DEFAULT,Intheeventofdefault,tme beingofthe essence,theentireamountof principalthenunpaidandall unpaidinterestshallbecorne. withoutnoticeor demand,at theop6onof theCreditor
immediately dueandpayable Eventsof Defaultshall ndude,butnotbelimitedto thefollowing(i) Debtorsfailureto paylimelyanyamountdueunderthisNote(ii)Debtorfilesor hasinstitutedagainstDebtorany
bankruptcy or insolvency proceedngs o r makes any assignment
forthe benefit
o f creditors,(III)Deb1or
sells d1of
substandaNy theDebtorsassets. o r a changein theDebtor.a voluntaryor =nvoluntary
material
dissoluhon of Debloror thefilingofa petitiontodssolvetheDebtor(iv)Debtorcommitsfraudor makesanymaterialtrisrepresentation inthisNote:(v) Debtorfai·stoabidebythetermsof thisNote;or (vi)Debtor
defaultsan anynota(s)or otheragreement(s) DebtorarrenUyhas,or anynote(s)or agreement(s) w
Debtormayhaveinthefuture, ithCredtor (vii)deathof a guarantorIncaseof anyactiontakenand/orsuitor
legalproceeding inMitutedby theCreditoror anydesigneeto enforcethecollectionofamountsdueunderthe Financing Agreement and/ortherelatedloandocuments executedtherewith,allcostsandexpenses
incurred,includingneasonable at1omeyfeesandcosts,shallbepaidbyDebtorand/orGuarangor andshallbecomesomuchadditionalindebtedness assecuredby thisAgreement
AFTERDEFAULT.Upontheoccurrence
INTEREST interestrateallowable
therighttoincreasetheinterestrateonthisNoteby themaximum
ofanEventof DefaultCreditorreserves how
underappilcable
TIMEISOFTHEESSENCE,Timeis oftheessence hereofupontheoccurrenceofanEventof DefadthereunderCredigor oritsassignsmayexerciseallfightsandremedies providedforhereinandbylaw
includngbutnotlimitedto,therighttomakeallprincrpal
remaining dueandpayable.withoutnoticeofdefault,presentment
onthisNoteandallothersumsunderof inrespectofthisNote·mmediately ordemandfor
payment,protestornoticeofnonpayment ordishonororothernotoesordemands of anykindorcharacter.
exceptasspecified herein.DebIoragreesto payallcostsof collectinganydelinquent
payments.
attomeys'
includogreasonable fees,as permitted
byapplicable
law.
LATEPAYMENT. I theeventDebtorfailstopayanor anyamountto bepaidhereunder whendue.DebtorwillpayCreatora latechargeequaltothelesserof (a) 10%ofthepaymentthatis lateand(b)the
maximum amountpermitted by applicablelaw Thelatechargeis notinterestora penalty.butIstheris afeetodefrayadministrahve costsresdhogfromsuchlatepaymentWAlVER.Debtorherebywaives
presentment,nouceofnonpayment or annonor.protest,noticeofprotest,demandand allothernolicessoconnectionwiththedelivery.acceptance.performance. defadtorenforcementof thisagreementThe
Credtorshallnotbedeemed,byanyactofomission or commission,tohavewaivedanyofitsfightsorremedeshereunder andsignedbysuchholderandlhenonlytotheextent
unlesssuchwaiveris in wri1ing
setforthn wri1ng Awaiverwithreference
specificany tooneeventshallnotbeconstrued as continuingor asa barlo orwaiverof anyrightor remedyastoa subsequent eventNodelayor omissionoftheCreditor
toexerciseanyright,whetherbeforeor aftera defadthereunder, shakimpairanysuchrightorshallbeconstrued 10beawaiverof anyrightor defadt,andtheacceptance at anytimebytheholderhereofof any
pastdueamount, whetherI nidl orin part.shall
n otbedeemed t obeawaiver o ftherighttorequire pron1ptpayrnentwhendueof any otheramounts t henor thereaf
terdueandpayable
FILED: ONONDAGA COUNTY CLERK 03/19/2024 03:38 PM INDEX NO. 002934/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 03/19/2024
THIS IS A COPY Page 2 Of 3
DCCuSign Envelope ID. E69538CF-9917-4DF2-B445-2798BE8268D3
This is a copy view of the Authoritative Copy hi
TERMINATION. thisagreement
Uponpaymentin fullofallprincipalandallinterestasproadedin thisagreement. shalb bedeemedcancelledandtermlittild)0phREfiBI Udhal §RBdilM)whether by
induecourse.interest
acceleranonor shallberecalcidatedovertheactualGleof1heloanbasedupontheamountsoutstanding, andif thetotalamountof Interesttheretofore
paidexceedstheamountpermittedto
bepondunderapplicable or if suchexcessexceedsthePrindpalamountduehereunder.
ineffectfromtimetotime.theexcessshakbecreditedlo Principal,
law rule.orregulation refundedto theDebtor
os
II. SECURITY AGREEMENT (1have read and understand I am executing a ïsecurity agreement and acknowledge
that a UCC-'t Financing Statemefit will be filed In the appropriate stateLNj]]AL:)
OTHERREPRESENTATIONS
ASSIGNMENT. Withoutthepriorwrittenconsentof Creditor.Debtorshallnotsetl leaseor allowanyIIenotherthanCredtor'ssecurityinterestagainstan Itemof Collateralof assignany of Debtor'sobligations
of anyofitsrightsor obligations under
hereunderDebtor'sotIligationshereunder arenotassignableby operationof'.aw Credtermayat anytime,in itssoleescredon.assigncrotherwise transferthisagreement
as
thisAgreementwithoutnoticeto Debtor If Debloris gvennoticeof suchassignment. Debtorshanacknowledge thereceiptof theassignment in writingandshallthereafterpayanyamountsduehereunder
directedin thenotim Therightsof theassigneeto amountsduehereunder shalfbefreeof anydaimor defenseDebtormay haveagainstCreator,andDebtorknowingly. voluntarily agreesto
and intentionally
Waiveandnotassertagainstany assignees anyclairnordefenseDebtormayor doeshaveagainstCreditor Allrightsandremediesof Credtormaybeassigned. t ransferredor otherwisodsposed of, eitherin
wholeorin part.to anypersonor toDebIor.
COMPLIANCE AGREEMENT,Forandin consideration oftheCreditorenteringIntoandlundingthesumssoughtby Debtorinconnection withthesubjectAgreement andforcreditfacinty.andinconsiderationof
Debtoragreeslo cooperate
thesubjecttransaction. prompUy withCreditor,itsagentsandforassignsänthecorrection oftheloandosingdocurnents,
orcampletion if considered necessaryor desirablebyCreditor
reflecttheagreement
and/oritsagentsand/orassgns.to accurately oftheparties.Debtormderstands thattly.smayincludetheexecutionofareplacement Agreement, a replacement SecurityAgreement, or UCC-
1 Financing torollecttheagreeduponterms,inwhichcase111e
Statements. Creditoragreesto returntheoriginalof thereplaceddocumentstoDebtorInaddinon.DebtoracknCNWledges thatsomeoralloftheloan
closingdocumentswereor mayhavebeenexecuted inadvanceofthedateonwhichthesubjectloanwasfundedandthat.assuch.certainoftheinformation setforthonthetoanclosingdocuments mayhavenot
beencorrplete.Debtoragreesto cooperate
inthefilingof anydocumentation neededtoestablish andmemtain theDebtors company.LLC,d/blaor anysuchcorporate entityandallowsCreditortherighttolilethe
sameonitsbehalf
FORM4506-T:"REQUEST FORTRANSCRIPT OFTAXRETURN"/FORM 8821:'TAX INFORMATDN AUTHOREAT.N". Duringthe1ermofthisAgreement Debtoragreesthatuponrequestof Creditor,its
ofTaxReturn"ORForm802t: 'TaxInformelion
or assigns.DebtorwidfumlshasignedForrn4'i06-T:'RequestforTranscript
successors Further,Debtoracknowledges
Authorization". andaginesIhatCreditor,its
andassignshavetherightto.atCreditors
successors ofTaxRetumorTaxInformation
druretion.requestandreviewDebIorsTranscript duringthetermofthiscommercial
Authoriza0on loan.
APPLICABLE LAWlJURISDICTION & VENUE.Thetennsof the FinancingAgreement andanloandocuments executedherewithshallbe govemedby andconstruedin secordance wtih thesubstanbve and
procedure lawsofIheStateof Floridaexclusive oftheprinciples ofconflictoflaws.Venueforanyadionbroughthereunder, shallbethechoiceoftheCreditor,andshallbelirnltedm eitherOnondaga County.New
Yorkor Eroward County,Florida.or,if theactiontovolves in astatecourtin thecountywheresuchCollateral
or is broughtagainsttheCollateral, is located,whererequiredtoenforceCreator'srights astoor against
theCdlateral.unlessCreditorselectsanaltema0ve forum.Deb1or agreesto submit10the personallurisdic0on of theappropriatecourtin theStateof.NewYork,OnondagaOcrunty or Stâtebf Florida,Broward
County forallsuchdisputes Debtor expresslywaives personal serviceoI pacessandautiorizes serviceof process o nDebtorb y registeredm mailorovemightdetverybya na1Èonal
ailof cef011ed deliveryservice
sentto Debtor'saddressassetforthin theintroductory paragraph or sucholhermanneras maybe
of thisAgreernent permitted
underapplicable law. TheDebtor f urther.Waives
any dghttheDebermayhave to
transferorchangethevenueof anylitigationbroughtagainst D ebtor
by Creditor.
therighttoirderposeanydefense or motionbased onForum NonConveniens or Venue. a rut
anyclairaforconsequential, punitiveor
specialdamages.
THEDEBTORANDALL OTHERSWHOMAYBECOMELIABLEFORALL ORANYPARTOFTHISOBLIGATEN,JOINTLYANDSEVERALLY¿ WAIVEANDRENOUNCE THE1RRIGHTTOA TRIALBY
JURYIN RESPECT TO ANYLITIGATION OR PROCEEDING, BACLUDBlG AS TO COUNTERCLAIM BROUGHTBY OR AGAINSTDEBTORONANY MATTERSWHATSOEVER ARISINGFROMTHIS
AGREEMENT, THESECURITY AGREEMENT INCLUDED HEREIN, ANDANYOTHERDOCUMENTS ANDAGREEMENT EXECUTED IN C_ONJUNCTION WITHTHISCREDIT TRANSACTION, INCONTRACT,
INTORTOROTHERWISE. THETERMSOFTHISJURYTRIALWA1VER ANDDEBTOR'SAGREEMENT HERETOISA MATERIALINDUCEMENT 70 CREOfTOR TOENTERINTOTHISTRANSACTION.
DEBTORFURTHER WAlVESANYRIGHTTOREMOVE ANYSTATECOURTACTIONTOFEDERAL COURT.
.DS
(I have reag and understand the applicable law,JyrisdictionEenue and waiveiQE]hale )
NOTICE.Any noticeto will'
Creditor be effective
only onits receipt
by Creditor.Any requiretrieqt
of givingnoGce
t o DebIor
m aybe sentby or by nationaly
mailingthenodce,postageprepaid;byhand-delivery
recograzed ovemightdeliveryservicela theDebtorattheaddressstagedinthisagreementDebtorshanbedeemedtohavereceivedanynoticepostedwiththeUni1ed StatesPostalServiceontheearlierofthethird
D ebtors hall
b edeemed
tohavereceived suchnoticeenthedateof
(3 busiriess dayafterthepos0ngof thenoticeorthedateofactualreceipt.Intheeventor deliverybyhandor byovemightdeliveryservice. any
actualdeliveryofthesame.
BINDING EFFECT. Thisagreementshaninuretothebenefitofandbebindngontheheirs,executors, successors
adridnis13ators, parties,subject.howevertotherestic8onagainst
andassignsof therespecdve
assignment by Debtor Theseobliga0ons owedbyDebtor(s) andanyGuararitor shaEbeIbnJointands'everal agreement ofallsigning.
FURTHER ASSURANCES.Debtorsherprovkleal@documents sandpayall statefeesandtaxes(including. butnotEmitedto, appropriate
stateDocumentaryStamps)necessary to perfect protectandpreserve
Credtor'srightsandinterestas set Ibighin this FinandngAgreerrmamL includingprovidngall finandngslatements andothersirnilardocuments.DeblorshanprovideCredtorwithall financialinformation and
statementswithinten (10)daysofeachanniversary dateofthlsFinanctigAgreement er withinthirty(30)daysofwrittenrequestforthesamebyCreditorthroughout
thetermofthisFinancing AgreemerlL
COMMERCIAL TRANSACTGN. Debtorherebyacknowledges, warrants.andrepresentsthatthisIs a commerdaltransacdon, that the DebtorIs In facta business.andthataAnecessaryHoenses, persfits,
registrations
andotherdocumentations havebeenBledwiththeproperauthoribes.suchIhatIhebusiness is incomphance withstateandlocallawsforthelocalityoftheDebtor.Furthepmore. Debtordoeshereby
acknowledge. werrant,andrepresent Agreesmal
thatanyandall proceldsof thisFinandng shan beusedforexpenses, purchases
projects. or otherAnandal transaclions
associatedwithandIorghe benent ofthe
Debtor
EFFECTOFPARTIALINVALID1TY. Intheeventanyonecr moreof theprovisionscontainedinthisdocument shan,for anyreason.beheldlobeinapplicable. intanyrespect.such
invadd.iAegalorunenforceable
illegalityor unenforceability
inapplicabilityDvalidity, notaflectanyotherprowsionof thisdocument,
shal.attheopUonof theCreditor.. butthlsdocument shanbeconstruedasif suchapplicable. lrnralid,Ilegalor
unenforceaNe livovision
hadneverbeencontained hereinoftherein,andtheremainingprodsionswil beunaffected.
ENTlREAGREEMENT. TheFinancingAgreement andIherelatedloandociznentsexecutedcontemporaneously therewithconstitutetheenureagreement of theparUes as lo the subjectinatterandshallnotbe
amended,altered.or changedexceptby a writtenagreementsignedby theparties Anywaiverby Creditorinustbein writing,andforbearance shaNnotbeconslruednorcons8lute a waiver.If thereis morelhan
oneDebtornamedInthisAgreement. theliabilityofeachshanbe|ointandseveral Theobligationspursuantto lhisAgreement shallsurviveIhereleaseof thesecurityinterestintheCoDateralDebtorrepresents
andwarrantsaninforinalionDebtorhassutmttedto Creditoris compleleandIrueandthatlhis Agreement hasbeendutyauthorizedby Deblorandon execution.shaBconsinutethe legal,vaBoand binding
oftheDebtor
obhgation
DocuSigned
by:
10/25/2022
x
unmanneanasm
Won Choe - Owner Date
Won ChoedWa
Won Choe, Sole Proprietor
PERSONAL GUARANTY
ForgoodandvaluaNeconsideration, thereceiptandsuf$aency ofwhichis herebyacknowledged. andtomduceCredtortomakehoans andotherwise engageananyothertransaction with Debtorfromurnetobme.
GuarantorabsdutelyfrevocaNyand unconditionally promisea to pay and guarantythefull andpromptpaymentof all of the Debt,as herennalter delined,whendue(whetherat maturityor uponacceleration),
including,withoutlimitation.all principal.accruedInterest,attomeysfeesandcollectionandcourtcoststhatmaybe or becomeduefromDebtorto Creditor collecting - n t he a
Debt. s hereinafterdelined,anden
withrespectto DebtorGuarantor·sandshallbe uncondtionally liableunderthisGuarantyregardless of whetherCreditorpursuesany ofits rernedres against
enforcingthisGuarantyandall otheragreements
Debtor,againstanyothermaker.surety,guarantor or endorserof theDebt,ashereInarter definedor againstany Collateral,asthe sameis deñnedandsetforthheran.Credtorshal havetheItchtto br·ngsuit
onthisor anyotherguarantyoftheDebt.ashereinafter delined,or any numberor combination thereof, joinderofallofthe
without foregoing or Debtor10
againstGuarantor alone,or anyoneelsewhois obEgated -Debt"shapmeanandreferto
collecttheDebt,as detnedherein.ForpurposesofthisGuarantytheterm debts,Ilal$ties,andoNigations of Debtor(includog.withoutemitation. amountsagreedto bepaidunder
Ihetermsof any agreements, anyagreernents securingthepaymentof anydebt.toan.Piability. orothgationoverdrafts, lettersof credt.guaranges, advancesfortaxes.insurance. repairsand/orstorage;and.als
extensrons.renewals,relinanangand/ormodifications of suchdebts)whethernowexisungor createdorincunedin thefuture.dueor to become due.or absduteor includingobligationsanddudes
contingent.
forthetransaction,
suchasapplications,securityagreements, disdosures,publicfilings,theAgreement andthisGuaranty. ThemabilityofGuarantoris
arisingfromthetermsofasdocuments prepared orsubmitted
executedinconnectonwiththe
notsubjectlo orcondilioned uponthesigningofthisGuaranty byanyotherpersonandAsnotsubjectto anyotherconditionnotexpresslysetforthinthisGuarantyor anymatrument
FILED: ONONDAGA COUNTY CLERK 03/19/2024 03:38 PM INDEX NO. 002934/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 03/19/2024
THIS IS A COPY Page 3 of 3
DocuSign Envelope ID: E69538CF-9917-4DF2-B445-27988E8268D3
This is a copy view of the Authoritative Copy he
Debi.Theobligatonsof Guarantorhereunder shallnotbeaffectedby theigegahtyevalidty or unenforceabiIity of any agreements or agreementsu$N1hQMb458M044486119fMiiU½pplicableusurylaws,
forgery,or anyotherdroumstances underwhichtheindebledness maybeunenforceable againstDebtorGuarantor shallremainobligated toCreditorhareunderevenif Debtoror anyotherguarantoroftheDebthas
suchobligation dschargedin bankruptcy, foredosureorotherwisedischarged and/orreleasedby law Guarantor consentsthatfromemeto lime,withoutno1iceto gr furtherconsentfromGuarantorandwithout
releasingor affecting thetimeforpayment
its liabilityhereunder, orperformance may beextended oraccelerated inwhole or part.anysecuritymaybeexchanged, enforced,sold,leasedor otherwise
released, dealt
withoutnoticeto or furtherconsentfromGuarantorandwithoutreleasingor affechngGuarantor's liabilityhereunderthet:mefor paymentor performance maytie extendedor accelerated in wholeor part,any
securitymaybeex"hanged. released,enforced, sold,leasedor otherwise
dealtwith,theprovisions of anydocuments inaybe canceled,compromised modilledw waived,anyotherGuarantoror suretymaybe
re1essed,andany inddgencemay begrantedDebtor,as Creditormayin its discrehondetermineGuarantor waivesandconsentsto thenon-perfection, lapsetr dspositionof orotherdealingwith anysecunty
interestorliensat anytimegrantedtoCreditoras secuntyfortheDebt Nopayment by Guarantorexceptpayment inful oftheDebtshallentilleGuarantor tobe subrogatedto aty of therightsof Creditor,otherthan
aswaivedin thenextparagraph below.Guarantorshallhavenorightof reimbursement or indemnitywhatsoever andnorightof recoursetoorwithrespectto anyassetsor property of Debtoror to anysecurityfor
theDebtunlessandunhltheDebthasbeenpaidinfull,otherthanaswaived inthenextparagraph b elow
Guarantor andirrevocably
herebyunconditionally waivesandreleasesanyandalldairns(asdelinedby anyapplicatile Stateor Federallawor regulation) againstDebtornowor hereafterarisingout ofor related
directlyor indrecIly10anyoftheotliigations
ofGuarantor
underthisGuaranty anyandallsuchclaimsarisingfromrightsof subrogation,
or anyliabilitiesof DebtortoCreditor.including(withoullirnilation) indemnity,
reimbursement, orset-offofGuarantor
contribu1ion againstDebloIwhetherarisingby contractor otherwise
Ingheeventthata bankruptcy pathonis liled,whethervoluntarily or involuntarilyby or againstDebtor.thematurityof theDebt,asthe samepertainsto thisGuaranty.shallbedeemedto be accelerated andthe
Debtshallbeimmediately dueandpayablein fullby GuarantorGuarantor acknowledges andageesthatthetermsandconditions hereofshallremainin funforceandeffectatall times,notwithstanding anyactions
or undertakingsby or againstCreditoror any Collateral,in connection with anyproceedngn theUritedStatesBankruptcy Court.Suchactions orundertakingsinclude,w ithout valuation
limitation, of Collateral.
electonsof remediesorimposition ofsecuredor unsecweddaimstatusupondaimsby Creditor. asprovidedforundertheUnitedStatesBankruptcy Code,as thesamemaybeamendedfromtimelo time.Inthe
eventthatanypaymentof principal,interestor othersumsreceivedandpaidbyany otherguaran1or. Debtor.surety,endorser,co-makerorobligoris deemedby anorderof a courtofcompetent jurisdcGon tohave
beena voidablepreferential transferundertheUnitedStatesBankruptcy us or anyotherapplcaNebankruptcy or insolvencylaws,then1heobligations of Guarantorhereunder shallremainas an enforceable
obligalion
by Creditora gainstGuarantor andwillnotbedeemed tobeorconstrued a s havingbeen extinguisheduntilsuchtimeaspayment infunis InadetoCreditor
onLifedme.Creditoragreesthatthisis anabsoluteanduncondlional
Limilalion GuarantyonlyduringthelifeoftheGuarantor anduponthedeathoftheGuarantor thisGuarantyshallbeterminatedDuringthelife
oftheGuarantor thesameshallbeandremainbindingonGuarantorwhetheror not 1hereremainsoutstanding anyDebt,untilCrediorhasrecovedwrittennoliceofthedeathofGuarantor
ThisGuaranty cannotbeterminated orchangedorallyandnoprovision hereofmaybemodittedor waivedexceptin writingbyCreditor.it shallcontinuein effectuntrCreditorreceives writtennonceoftermination.
whichshallnotreleaseor alfectGuarantor's liabilitywithrespectto theDebttheretofore createdandany extensions andconsolidations thereoI;andit "sa guarantyof paymentandnotoneof collection.This
guarantyshallbe bindinguponGuarantor, joindyandseverallyif morethanone,andits or his or herrespective heirs,represenlatives,sur=*ws andassignsin favorof Credtor.its successorsandassigns
GuarantoragreeslhatandconsentstheCreditormay,withoutnoticeto Guarangor or effectingGuarantor's obligationshereunder,reneworextendpaymentof the Debt·releaseanyDebtor,endorser,guarantor.
surety,accomrnodation makeror any otherco-signer;release,subs1itute or impairany Collateralinvokea rightof setÄ)lt modityor amendthe termsof the Debtof any Instrument evidencingor securing,
guarantyingor relatingtothe DebI;provideaccommodations toDebtorin connec0on withIheDebtanditsrepayment value,releaseor substitu0onNoneoftheloregoingshallserveasthebasis
or theCollateral.Its
ofanydefensebyGuarantor, whoexpressly waives suchdefenses. Guarantor furlher waivesany rightof subrogaBon contribution,
reimbursement, indemniscation.
exoneraliona nd anyotheryightor remedywhich
Guarantor may,nowor inthefuture,haveagainstDebtoror anyotherguarantor unintheDebtInsalisfiedinfull Anydelayorforbearance byCreditorin theexerdseof anyrightor remedyunderthisGuaranty, the
Debtor anyloandocument relatingthere10,orthefailuretoinsistuponthestrictperformance of theobligationsor anyof theprovisionslhereundershallnotbedeemedawamefliy Creditornor.shallit serveasthe
basisofanydefensebyGuarardor, whoexpressly walvessuchdefenses
Guarantor acknowledges thatCreditoris relyingonthisGuarantor in extendingcreditto DeblorandthatthisGuarantyhasbeenexecutedsoasto induceCreditorto extendsudicredit.Guaran1or representsto
CredtorthatGuarantorhasa drect andsubstandve economic interestin DebtorandthatGuarantorexpectsto realizeand/orderivesubstantial benefitshomthe makingatloansandotheraccommodations 10
DebtorresulUng IntheDebt.Guaranlorfurtherrepresents andwarrantsthatGuarantor hasthe authoritytoenterintothisGuarantyandthatenteringinlothesamewill