Unconditional And Continuing Guarantee {BWC-7238}

Unconditional and Continuing Guarantee BY,parentcorporation, IntheMatterofSelf-Insuranceof, SubsidiaryofsaidGuarantorunderthe Workers'CompensationLawofOhio. whichisherebyacknowledged,andtoencouragetheOhioBureau ofWorkers'Compensationof(hereinaftercalled"Bureau"):to extendself-insuringstatustothe_____________________________ ____________________________________________________________ a subsidiary of ___________________________________________ _________________________________________________________ (hereinaftercalled"Guarantor"),undersignedGuarantorabsolutely andunconditionallyguaranteesthepromptandpunctualpayment, whendue,byaccelerationorotherwise,ofeachobligationdirect or indirect, now existing or hereafter created or acquired with respecttopaymentsowedbythesubsidiaryundertheworkers' compensationlawsofOhio,togetherwithallinterest,charges, andpenaltiesaccruingthereon. ItshallnotbenecessaryfortheBureautoresorttoothersecurity ortoexhaustitsremediesagainstthesubsidiaryoragainstany securityortoresorttopropertyheldassecuritybeforecalling upontheundersignedforpaymentofanyobligations,thepayment ofwhichishereinguaranteed. Thetermsofthisagreementshallcommenceontheeffective dateofthesubsidiary'sself-insuranceandshallcontinueinfull force and effect until the self-insuring status of the subsidiary iscancelledbytheBureauoruntiltheobligationsowedbythe subsidiarytotheBureauaresatisfied,whicheverislater. TheGuarantorherebywaivesthefollowing: A.NoticeofacceptanceofthisagreementbytheBureau. B. Trialbyjuryandtherighttheretoinanyactionorproceeding ofanykind,arisingon,outof,under,orbyreasonofthis GuarantyContract,exceptingthoseactionsconcerningthe rightofanemployeeorhisdependentstoparticipateorto continuetoparticipateintheStateInsuranceFund. For one dollar and other valuable consideration, receipt of inconformitywithgenerallyacceptedaccountingprinciplesand correctlyreflectvalidtransactionsandassetvaluesandcorrectly reflectthefinancialconditionoftheGuarantor.TheGuarantor warrantsthattherehasbeennomaterialadversechangewhich hasnotbeendisclosedtotheBureauintheGuarantor'sfinancial conditionfromthatshownonthefinancialstatementswhichhave beensubmittedasinducementtotheBureau'sacceptanceofthis agreement. FailureoftheGuarantortopromptlypayobligationsarising hereunderconstitutesabreachofthisagreement.Allobligations arisinghereunder,whetherpresentlyowingorprospectiveonthe dateofthebreach,becamedueandowingasofthedateofthe breachofthisagreement. AllrightsandremediesoftheBureauarecumulativetothe fullextentpermittedbylaw. Atanytimehereafter,uponninety(90)dayswrittennoticefrom theGuarantortotheBureau,theobligationofthisagreementupon theGuarantormaybeterminatedastoallliabilitiesthereafter arisingonaccountofanyaccidenttoanyoftheemployeesof the subsidiary company thereafter occurring or on account of anyassessmentagainstthesubsidiarycompany. This agreement shall be governed by and construed under thelawsoftheStateofOhioexclusiveofitsrulesrelatingtothe choiceoflaws. INWITNESSWHEREOF,thepartiesheretohavecausedtheir signaturestobeaffixedhereto. Executedat_______________________________City,State,this _____________________dayof____________________,20________ ____________________________________________________________ Signature ____________________________________________________________ Title Typedorprintedname (corporateornotarialseal) ____________________________________________________________ Notary ____________________________________________________________ Typeorprintedname This Guaranty Contract is absolute, unconditional, and continuing,andshallnotbeaffectedbyanyactorthingwhatsoever exceptthatobligationsowedbythesubsidiarythatcommence after the date of the cancellation of self-insuring status of the subsidiaryareexemptfromthetermsofthisagreement. TheGuarantorrepresentsthat,atthetimeoftheexecution ofthisagreement,nothingexiststoimpairtheeffectivenessof theobligationoftheGuarantortotheBureauhereunder,orthe immediatetakingeffectofthisagreementasthesoleagreement betweentheGuarantorandtheBureauwithrespecttotheselfinsuranceofthesubsidiary. TheGuarantorwarrantsthatanyfinancialstatementswhich weresubmittedtotheBureaubytheGuarantororanyoneinthe Guarantor'sbehalfaretrueandcorrectandhavebeenprepared BWC-7238(Rev.3/2003) SI-38 NOTE:THISGUARANTYISTOBESIGNEDBYANAUTHORIZED OFFICERUNDERTHECORPORATESEALOFTHEPARENT.ITMAY ALSOBESIGNEDBEFOREANOTARY. American LegalNet, Inc. www.FormsWorkFlow.com