Laborers' Pension and Laborers' Welfare Fund for the Health and Welfare Department of the Construction and General Laborers' District Council of Chicago Vicinity et al v. J & T Services, Inc. et al
Filing
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MOTION by Plaintiffs James S. Jorgensen, Laborers' Pension and Laborers' Welfare Fund for the Health and Welfare Department of the Construction and General Laborers' District Council of Chicago Vicinity for judgment Consistent with Settlement Agreement, MOTION by Plaintiffs James S. Jorgensen, Laborers' Pension and Laborers' Welfare Fund for the Health and Welfare Department of the Construction and General Laborers' District Council of Chicago Vicinity to reopen case (Attachments: # 1 Exhibit Exhibits 1-5, # 2 Text of Proposed Order proposed order)(Engelhardt, Karen)
Case: 1:15-cv-09.013 Document#: 19 Filed: 02/23/16 Page 1 of 3 Page!D #:82
IN THE UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
)
LABORERS' PENSION FUND and
)
LABORERS' WELFARE FUND OF THE
HEALTH AND WELFARE DEPARTMENT
)
OF THE CONSTRUCTION AND GENERAL )
LABORERS' DISTRICT COUNCIL OF
)
)
CHICAGO AND VICINITY, JAMES S.
JORGENSEN,
)
)
Plaintiffs,
) No. 15 C 9013
)
) Judge Edmond E. Chang
v.
)
J & T SERVICES, INC., and TOM ALBERTO )
and MARIA A. BANUELOS,
)
)
Defendants.
)
VOLUNTARY DISMISSAL NOTICE
The Laborers' Pension Fund and the Laborers' Welfare Fund of the Health and Welfare
Depmiment ofthe Construction and General Laborers' District Council of Chicago and Vicinity, and
James S. Jorgensen, by its attorneys, pursuant to Rule 41(a), dismisses this action pursuant to a
signed Settlement Agreement and Release, between Defendant J & T Services, Inc., and Tom
Albetio. The Plaintiffs and Defendants J & T Services, Inc., and Tom Albetio shall comply with the
terms of the Settlement Agreement and Release dated February 22, 2016, which includes consent
to the jurisdiction of this Court.
By consent ofthe Plaintiffs and Defendants J & T Services, Inc., and Tom Alberto, the Court
is asked to retain jurisdiction for the purposes of enforcing the Settlement Agreement and Release,
which includes retaining jurisdiction for either party to extend time, or for plaintiffs to enter of
judgment as described by the Settlement Agreement. Plaintiffs voluntarily dismiss this matter,
without prejudice, until May 1, 2018, at which time this dismissal will be changed to a dismissal
Exhibit 1
Case: 1:15-cv-09013 Document#: 19 Filed: 02/23/16 Page 2 of 3 PageiD #:83
with prejudice.
By: Is/Karen I. Engelhardt
One of Plaintiffs' attorneys
Karen I. Engelhardt
Allison, Slutsky & Kennedy, P.C.
230 W. Monroe Street, Suite 2600
Chicago, Illinois 60606
(312) 364-9400
ki e(a)ask -a ttomeys. com
February23, 2016
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Case: 1:15-cv-09013 Document#:
Filed: 02/23/16 Page 3 of 3 PageiD #:84
Certificate of Service
I, Karen I. Engelhardt, state that I forwarded a copy of the Voluntary Dismissal Notice on
February23, 2016, withproperpostageprepaid, fi·om the U.S. MailBox located at230 W. Momoe,
Suite 2600, Chicago, Illinois 60606, before the hour of 5:00pm., to the following:
Mr. Tom Alberto
J & T Services, Inc.
34 W. 644 White Thome Road
Wayne, Illinois 60184
Is/Karen I. Engelhardt
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SETTLEMENT AGREEMENT AND RELEASE
This Settlement Agreement and Release ("Agreement") is entered into by and between the
Laborers' Pension Fund and the Laborers' Welfare Fund of the Health and Welfare Department of
the Construction and General Laborers' District Council of Chicago and Vicinity, and James S.
Jorgensen. Admioistrator of the FW1ds (the "Funds") and Defendants J & T Services, Inc, ("J & T..)
and Tom Alberto ("Alberto''), (the Funds and the Defendants will be collectively referred to as the
"Parties"), to fully and fmally settle and resolve any and all issues raised in Laborers' Pension Fund
et al., v. J & T Services, Inc., and Tom .Alberto, and Marla A. Banuelos, No. 15 C 9013 (N.D. nt)
(the "lawsuit''). The Parties agree to the following:
1.
Simultaneously with the ~ecution of this Settlement Agreement and Release, J &
T Services and Tom Alberto, will sign the Installment Note, which i& incorporated by reference.
Both the note and this AgrcQ111ent provide for payment of a total amount of$70,253 .66, plus interest
The amount o.f $70,253.66 is the total amount owed which includes principal, damages and interest
for the audit covering the period from October 2012 through May 2014 in the amount of$2 7,3 78.16;
principal and damages in the amount of $4,009.73, for the report covering June 2014 through
December 2014; and the amo11t1t of $48,683.37 in medical expenses paid on behalf of Marla
Banuelos.
2.
Alberto and/or J & Twill make a down payment of$7, 000.00, each on the following
dates: February 19,2016, March 15,.2016 andApril15, 2016. The balanceofthe total amount owed
will be paid through monthly installments for 24 consecutive months beginning on May 1, 2016 and
ending on April 1. 2018. All of the note payments as described by the Installment Note are
hereinafter referred to as the Settlement Payments and must be made in accordance with the terms
and conditions provided in the Installment Note. In addition to amounts owed and paid under the
Installment Note, J & T and Alberto agree to report and pay all on going monthly contributions to
the Funds as it is obligated under the terms of the collective bargaining agreement and the Funds'
respective Agreements and Declarations of Trust
3.
J & T or Alberto may prepay the amounts due in this Settlement Agreement at any
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Exhibit 2
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time, without penalty. If payment is made in full prior to May 1, 2018,
the Funds will make a
determination of the balance owed including interest on the date of the
prepayment. J & T and
Alberto are responsible for all note interest owed to the Funds which in
the event of pre-payment,
will be redetermined.
4.
The Parties agree that the Settlement Payments referred to in paragraphs
and in paragraph 6 of the Installment Note represent a resolution of the lawsu
for the report month of December 2014.
1 and 2 above,
it fox-the period ending
J & T and Alberto represent that they have properly
reported contributions due to the Funds for the period from January 1,
2015 through the present.
However, for the period from January 1, 2015 through the present, contrib
utions have not yet been
reviewed by the Funds' auditors. As consideration fo:r the Funds' accept
ance ofthis representation
and the docmnentation submitted by the Company in support of such
representations, J & T and
Alberto hereby agree to pennit the Funds an opportunity to audit the
books and records of the
corporation under the collective bargaining agreemcmt, Trust Agrctmients
and the Funds' Polici
es
for the period from January 1, 201 S through current, and J & T and Albert
o agree that it may be
liable for contributions owed, in the event that an audit detennines amoun
ts owed to the Funds. The
parties agree that after an audit report is presented to J & T and Albert
o in the regular course of
business, 1he Funds at their discretion may reinstate this ca11se or refile
an action against J & T and
Alberto seeking unpaid con1riblltions for the identical time period.
In the event that J & T or Albertu fails to maintain their obligations
under this
Agreement, the collective bargaining agreement and the Funds' respec
tive Agreements and
Declarations of Trust, including but tlOt limited to its obligations to
submit timely contribution
reports and to make timely current contribution payments, J & T and
Alberto shall be deemed in
default within five (5) days after payments are due, or witb.ln five days
of a material breach of the
terms of this Agreement or Installment Note a;nd the Funds shall have
the right to reinstate this
action. Upon default. the Funds may declare the entire unpaid amoun
ts immed iately due and
accelerate collection oftbe total balance owed (including monthly payme
nts plus tb.e unpa.id balanc e
owed under the Installment Note). The Funds, on motion in accordance
with the Court rules and
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notice to DefendantS at 34 W 644 White Thome Road, Wayne Dlinios 60184, shall be entitled to
entry ofjudgment by the Court against~ & T and Alberto, individually.
6.
Judgtnent will be entered for all unpaid amounts due plus reasonable attorneys' fees
incurred by the Fwtds in their efforts to obtain compliance with this Settlement Agreement.
Defendants J & T and Alberto will not be pennitted to raise defenses to bar judgment of the unpaid
balance other than payment. Plaintiffs are also entitled to judgment for reasonable attorneys' fees
and costs incurred in coll.llection with efforts to enforce the Settlement Agreement and Release.
7.
In consideration of the receipt of all runounta owed as described in paragraph land
promises made by the parties, the Funds hereby release and discharge J & T and Alberto and each
of their affiliates, parents, subsidiaries, divisions, partners. owners, stockholders, directors, officers,
employees, agents, representatives, and their predecessors, successors, heir:s, executors.
administrators and assigns, agents, attorneys, representatives, trustees, adndnistrators, and all persons
acting by, through or under any of them jointly and severally, in their individual, fiduciary
and
corporate capacities, or any of them, of and from all actions, causes of action, grievances, suits,
complaints or claims, arising out of the obligation to contribute to the Funds for the periods ending
on December 31, 2014, with the exception of delinquencies that may be identified in a future auclit
report which will be conducted at a future date in the Funds' discretion.
8.
The Cornpany will be obligated to obtain and maintain a bond. If the Cotnpany is
unable to obtain a surety bond in the amount of $5,000.00, the Company agrees to make monthly
payments toward a cash bond
9.
The Laborers' Fl.Ulds agree to execute a Notice ofVohmtary Dismissal which will
dismiss all claims asserted by the Funds against J & T and Alberto in this Lawsuit after receipt by
the Funds' counsel of record, Karen I. Engelhardt, of an original or a copy of the Settlement
Agreement and Release, the Installment Note. The Parties agree in the event that J & T and Alberto
do not rnake tho Settlement Payments pursuant to the schedule in the Installment Note, or this
Agreeme nt and Release, or otherwise materially breach the terms of the lnsta.llnient Note
or this
Agreement ll.Ild Release that either party may reinstate this lawsuit.
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. 10.
This Agreement is entered into solely for the pwpose of settling disputed claims, and
shall not be construed as an admission by tho Defendant of any (a) liability or wrongdoing; (b)
violation of any statute, law regulation, collective bargaining agree111ent or declaration of trust; or
(c) waiver of defenses as to those matters within the scope of this Agreement. It is understood that
Defendant denies engaging in unlawful conduct, and this Agreement does not constitute an
admission by Defendant of any violation of any law, regulation, collective bargaining agreement or
declaration oftrust.
11.
This AgrCQment and the Installment Note constitute the entire Agreeroent between
the Parties concerning the subject matter hereof and supersede all prior and contemporaneous oral
and written agreements, if any, between the Parties relating to the subject matter hereof. This
Agreement may be amended only by a written document signed by an authorized representative of
the Funds and J & T and Alberto.
12.
Each ofthe undersigned has read this Settlement Agreement and Release, understands
its contents, has had the opportunity to and did negotiate over the terms of this Agreement, and is
authorized to sign same on behalf of the entity indicated below.
13.
Each party signing this Agreement represents to tb.e other party that it has the
authority to release the claims, demands and causes of action. which are purported to be released
herein and note of saM claims, demands or causes of action has been previously assigned to or is
owned by any other person or entity.
14.
The Funds may without notice and without releasing liability of any party hereto
grant extensions and/or renewals from time to titne of any terms in this Settlement Agreement and
Release and in the Installment Note. No delay by the Funds in exercising any power or right
hereunder and no partial exercise of such power or right shall operate in any way as a waiver of any
subsequent exercise thereof. The Funds shall not.be prejudiced by granting of an extension or a
renewal of any term in this Settlement Agreement.
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Ibis (focument may be signed·in separate countexpans which will have the :samc
effect as if signed on one docwnent. In the event ~at any of the provisions of this Agreement are
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found by ajudicial or other tribunal to be unenforceable, the remaining provisions of this Agreem
ent
will remaitl enforceable.
16.
The language of all parts oftbis Agreement shall in all cases be construed as a whole,
according to its fair meaning, and not strictly for or against any of the parties. This Agreem
ent shall
be governed and construed in accordance with the laws of the State of lllinois. The
Funds will
request the United States District Court for the Northern District of illinois,
Eastem Division, to
retAin jurisdiction to enforce the terms ofthis Agreement and JnstalhnentNote.
LABORERS' PENSION FUND and
LABORERS' WELFARE TRUST FUND
J & T SERVICES, INC.,
OF 1HE HEALTH AND WELFARE
DEPARTIMENTOFTHECONSTRUCTION
AND GENERAL LABORERS' DISTRICT
COUNCll.. OF CHICAGO AND VICINITY, and
JAMES S. JORGENSEN, Administrator of the
Funds
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Date
~ERTO
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z -'LL.- Ib
Date
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INSTALLMENT NOTE
This Installm.eut Note ("Note'') Is made between the Laborers' Pension Fund ("Pension Fund"), the Laborers' Welfare Fund of
the l{ealth and Wetrare llepartmeot o:f' the Construction alld General Lt.borers' Distric::t Council of Cblcago and Vicinity and tbe
.Retiree Health and Welfare~ll'und ("Welfore Funds" Ol' collec.tlvely tho "Funds"), the pames or tb.a first part, BJ)d J & T Strvicts
(the "Company"), the p11rties o(the second {)art,
Wli:Ji:lU:A.S, tbe Company bas at all relevant tl.mes been party to a coU"t~ve bs.rgahli.ng agreement ("CBA11) wjth the
Conttruction and Genernl Laborers' District Council or ChicaJo nnd Viduity, whereunder it ·ls oblig.qted to make certaln
contributions to tbe above-named Funds, as wen. as to tbe Training Fu.o.d, on behalr of Its covered employees, and to submit
payment of all employee union dues:
WHEREAS, the Company bas :f'niled to timely pay certain contrlbu.tiow owed to the Funds for the audit J)eriods of
October t, 2012 through May 31, 2014 and June 1. 2014 through December 31, 201.4 8lld unnaid claims nn Maria Banuelos,
WHEREAS; the Company has railed to remit aU employee ~io1;1 dues to the Funds, as the dcsign..ted coUectio11. agent tor
the Construction and General Lnllo.rers' District· Council of Chleago nod Vicinity, for the audit periods ot Ostoher 1, 2012
through Mev 31. 2014 and June 1.2014 through QKember 31.2014.
WHEREAS, the Company desires to pay aU delinquencies owed to tbe .fonds, to pay au union dues owed to tile
Construction and General Laborers' District Council of Chicago and Vldn.ity, together with liquidated damage$ 1 and interest, as
set forti! below and rurtber ooslres to remain .current i.n illS obligation to pay contributions to the Funds.
.
THE PARTIES HEREBY AGREE as follows:
1. The ComplUlY w;u pay SS0.287.02 to tho Health and Welfare J!'IU.ld (compris~ of S40,0ft,32 w dolinqu~nt
contributions, $977.26 iD Uquidated dGma.:es. .S~.4ltAA lo atto.rneya fees and costs and S5,813J1 In Interest) (Wised
on an Interest rate or 12%). The Company wUI pay SZ.30l,Z7 to tbe :R.eth-ee Health and Welfare Fund {comprised or
$490.20 in delwq_uent contributions., $49.02 io liquidated damages, $1.714.00 in attorneys fees and costs and S~ in
interest). 'l'bo Company wiD also pay S13,77J.4:Z to tb.c l'enslon ~nd (comprised of $7,333,28 In delinquent
· contributions,
hl liquidated dawages, $3.428.00 in attorneys fees and costs and $2.278,81 In interest). All of
th~ amounts shall be paid Rc~ord.tog to tb.e si:bedule described below lu paragmpb.s 4 tnd 5.
sm.u
2. Tbe Cotnpany 'tViJI alSo pay $~to tbe 'fiaioJog :Fn~d (compl'ised o£ $~ bl delinquent contributions, $~
in Uqu..idated damage.t Rnd S.2ZB2 io lntere,st), $69.48 to the IAF Fund (com{lrised of $~ i.u delinquent
contriblttJous, S~ in liquidatcld. d1111maact and SW,Z ln loterest)1 5429,10 to tho LECET Fund (comprised of
SmdQ Ju delinqu.ent coutributiooa, S~ In Uquldatecl dar.nagu and 573.36 in interest), S~ to the· LDCMC
Fund (comprised ot $554.40 In delinquent contnbutious, $~in Uqu.idated damages and 5133.02 In interest), S9.93
to the ClSCO Fund (comprised of SL§! ln delloqnellt col)trlbutions, 5J.1. in liquidated dJunaget and Sl.47lu interest)
-----.........,an...,d~-->$~6h;9llll§:?cl.~6l in union due. (comprised of s;.2§8.86 in deliJJqueut contributions and S~ in liquidated dalllage~).
These delinqueut aUlouo.u shall be paid in their endrety as part of the down payment described in paragraph 4.
3. l'be CoUJpany will also llRY tb.e .Famcls or the su.m of S8A70.00 representing attorney fees md costs incurred. by the
Funds in Cnse No.t5 C 9£!1:i. Tbls amount i.s S{)lit between the WelfAre, ).tet;lree Weltilre and Pension Funds ti
described in parssgrapb 1 above.
4. Tbe Company will pay a $21.000.00 down Jlayment pay11ble as tollowsz S7,000.0Q on Febnun:y 19, 2016, 57.000.00 on
Marcb 1!, 2016 and $7.000.00 oo AprillS, 2016,
5. For t'Wenty four (24) consecutive months COillntettclnz on May 1. 2016 nod endine on AQrill, 2018. the Company will
pay Sl.66S..U per montb to tbe Health and Welfare F-und, $2W to tb.e Retiree Health and Welfare Fund and
S.t2.ZJ1ptr montb to the Pension Fuud.
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6. The Company will remit. all payments to the Funds'
Road, westchester, nunols 60154.
1.
Adml~iitntive
omces, whicb are
lo~ted
at
1146~
Cermak
The Company undentands aod ag.rue tbat this .Insto.llment Note is b~tsed OJ.t reports su.bulltted by the Company to
tbe Fuo.ds aud that the Fullda resenre the rlgbt to conduct an audit, in accordance witb the terms of the collective
bafgllhliog agreement and tf\o Funds' re.pect:l.ve Agreements and Declarations of Trust, to determine beu.ent
contribution compliance for tbe tlme period cc;~vered herein and further reserve the .fight to collect any unpllid
contributions, union dues, interest, liquidated damages~ and audit costs as shown on said audit.
Exhibit 3
8. Payxnents made pursuant to this lnstallment Not0 sball be consJdered "contributions" as denned under the terl)ls of
tbe CBA and the Funds' respective A.greements and Decl:u·ations of Trust. If tho contributions are not paid by tha
10" day following the date on which payment should have been retelved, the contrib'lltion sball be considered
delinqueot and aU charges which apply to the late payment of contributions unde.- t~ terms of the CBA and the
Fund•' -_.upective agreements and Declarations of T.-ust $hAll apply. including, but not limited to1 the assessment ot
Jntenst nod liquidated damages. Furtb.er, in the event tbe Company falls to timely make any payments descri~ in
this Note. All aOJolUlts described in paragraph 1 herein shall immediately become due oo the lOtb day following the
'date on whicb. paynt.ent should have been received by the Fund's under the terr.ns of this Note. In SUt!h event the
Company further agrees to pay all attor.oeys' fees and costs incurred by tb.e Funda in any action to enforce any part
ofthls Note.
9. 'l'hls Installment Note is condltionlld on the Company staying current on its obligatiQos to the Funds and District
Council under the tenna of the collective bareaining ag.reeroe.ot and tile Funds' reapective Agreements and
Declarations of Trust. In tbe event that the Comvany falls to maintain its obligatlons unde.- the terms or the
collective bargaining agree.ment end the F ..nd•' respeetive Agreements and Declarations o( Trust, including, b~t .no
limited to, its oblliatioo.s to submit timely contribution and d._e,s reports and to make timely contribu.tion and dues
payr;uents by the tentlt day following the mouth in which laborers' wotlc. was pelfonned, then tile Funds shall hl'lve
the riKbt to accelerate and coiled all amounts due under this Installmtnt Note, plus payro.0nt of aU attomeys• toes
and costs Incurred by the Funds in any actioo to acceleTate this Installment Note.
10. The Company further agrees to obtain and maintain a s11rety bond to losul'e the payment of waaes and benefit
co.ntrlb11tions a.s required under tb.e terms o( the CBA.
11. The Co1;11paay sbaJl have the dgb.t to prepay the entire amount du" under tb.e Note prior to the date upon which
payment is due w\tb.ou.t pe.nnlty and without payment of any ptel!41enlated Note interest that has not al!crued as of
the date ruU payment hilS bee.._ .h.l.nde.
'l'be farties hereby agree to these terms by tb.elr e~ecntion hereof on the _ _ _ day ofthe _ _ _.., 2016.
J & T Services, Inc.
Laborers' Pnsion F\Uid," Labot."Crs' Welfare Fund of the Health and Welta,~;e Department of the Construction a.nd General
~"'.eo Md Vl""ily and Ratt,.. llealib and Welfaro Fund.
GUARANTY OF PAYMENT AND lNDEMNIFICATION
Tlus Guaranty ("Guaranty") is made as of
by the undersigned,
~------------'(the "Guarantor"), to and for the benefit of the LABORERS' PENSION FUND
AND TflE LABORERS' WELFARE FUND OF THE HEAL'l':U AND WELFARE DEPARTMENT OF THE
CONSTRUCTION AND GENERAL LABORERS' DISTRICT COUNCIJ,., OF CHICAGO AND VICINITY
(collectively, the "Funds").
WHEREAS, J & T Service, Inc. the "Company") has agreed to pay a total of $75,078.00 to the Funds in
settlement of the alleged delinquent contributions owed to the Ftmds and to be paid under the terms of a Settlement
Agreement and Installment Note (''Note").
WHEREAS, the Funds are ttnwilllng to enter into the Note unless the Guarantor executes tlJ.is Guaranty: a.ud
WHEREAS, the Guarantor has a fmm.1.ciaJ jntere.st in the Company aud will be benefited by the Note;
NOW THEREFORE WHEREAS, in consideration of the foregoing, the Guarantor agrees
as follows:
1. Guaranty of Payment and Indemnification. The undersigned guarantees, absolutely and unconditionally;
(a) the payment when due ofthe entire principal indebtedness and all interest evidenced by the Note during the twenty"
four (24) month payment period inchlding interest and liquielated damages for late or unpaid payments due on the
Note; and (b) the full and complete payment of any a.ud all fees and costs incurred pursuant to default under tem1s of
the Note, whether litigation is involved or not, and if involved, whether at the trial or appellate levels or in pre- o.r postjudgment bankruptcy proceedings in enforcing or reali:l;ing 1.1p0n the obligations of the Guarantor hereunder (the
obligations of Guarantor under this Paragraph 1 are collectively hereinafter referred. to as the "Obligations"). The
Guarantor also agrees to be personally liable for all monthly benefit contributions, union dues and/or wages owed from
the Company to the Funds. the Oistrict Council, all ancillary funds, and/or the participants that are due at the time the
Note and Guaranty are entered into and/o!,' are incurred and become due and owing for the duration of the Note,
including all interest, liquidated damages, audit costs, attorneys' fees and costs.
2. Continuing Guaranty. This Guaranty shall be a continuing Guaranty, and shall not be discharged, impaired
or affected by; (a) the existence or continuance of any obligation on the part ofthe Company with respect to the Note;
(b) any forbearance o:t extension ofthe time of payment ofthe Note; (c) tlw V!llidity or invalidity ofthe Note; (d) ru1y
defenses whatsoever that the Company or any of the party thereto may have to the perfom1ance or observance of any
tenn, covenant' or condition contained in the Note; (e) the existence or non-existence of the Company as ~ legal entity;
(f) any lin:titdtion or exculpation of (other than the payment and pet.fonnance in full of all of the Company's
Obligations) that Guarantor may .have as to hls undertakings, liabilities aud obligations hereunder, including any
defenses based upon :my legal disability of the Company or any discharge or limitation of the disabillty of the
Company, whether consensual or arising by opexation of law or any bankruptcy, insolvency or debtor-relief
proceeding, or fi·om any other cause. each and every such defense being hereby waived by the Guarantor.
3.
Waivers. Guarantor waives diligence, presentment, protest, notice of dishonor, demand fo.r payment,
extensiolJ. of time of payment, notice of acceptance of tllis Guaranty, non~payment at maturity ~;~nd indulgences and
notices of every kind not provided for tmder this Guaranty. It is the intention of this Guaranty that Guarantor shall
remain Hable as plincipal, notwithstanding any act, omission or thing that might otherwise operate as a legal or
equitable discharge of Guarantor, until all ofthe Company's obligations shall have been fully paid and performed.
4. Subrogation. Notwithstanding anythjng to the contrary elsewhere contained herein or in the Note, the
Guarantor(s) expressly waive with respect to the Company any and all rights at law or it~ equity to subrogation, to
reimbursement, to exoueration, to contribution, to set off or to any other rights that could accrue to a surety against a
principal, to th.e Guarantor against a maker or obligor, to an accommodation party against the party acco.uunodated, or
to a holder or transferee against a maker, and which the guarantor may have or hereafter acquire against the Company
i.tl cotmectio.o with or as a result of Guarantor's e?s.ecution, delivery and/or performan~e ofthis Gu..
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