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CORPORATE GUARANTEE

 

This GUARANTEE dated this 24th day  of June  2011.

 

 

FROM:     ABC CORPORATION (The “Guarantor”)

 

TO   :       XYZ BANK   (The “Lender”)

 

RE   :       DEF COOPERATIVE  (The “Debtor”)

               

 

IN CONSIDERATION OF the Lender extending future credit from time to time to the Debtor, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Guarantor, guarantees the prompt, full and complete performance of any and all present and future duties, obligations and indebtedness (the “Debt”) due to the Lender by the Debtor, under the terms of certain debt agreements (the “Agreement”) and under the following terms and conditions:

  1. The Guarantor guarantees that the Debtor will promptly pay the full amount of principal and interest of the Debt as and when the same will in any manner be or become due, either according to the terms and conditions provided by the Agreement or upon acceleration of the payment under the Agreement by reason of a default.
  2. The Guarantor agrees not to pledge, hypothecate, mortgage, sell or otherwise transfer any of the Guarantors assets without the prior written consent of the Lender.
  3. To the extent permitted by law, the Guarantor waives all defenses, counterclaims or offsets that are legally available to the Guarantor with respect to the payment of the Debt of the Debtor.
  4. The Lender is hereby authorized at any time, in its sole discretion and without notice, to take, change, release or in any way deal with any security securing the Debt without in any way impairing the obligation of the Guarantor.
  5. The Lender will be under no obligation to collect or to protect any such security or the Debt, and its neglect or failure to collect or protect the security or the Debt is excused. Acceptance of the Guarantee is waived.
  6. The Lender may grant extensions of time or other indulgences and otherwise deal with the Debtor and with other parties and securities as the Lender may see fit without in any way limiting or lessening the liability of the Guarantor under this Agreement.
  7. Any impairment of the security, which the Lender may from time to time hold as security for the Debt, will in no way operate to discharge the Guarantor in whole or in part, it being specifically agreed that the Lender is not required to exercise diligence to enforce its rights against the Debtor.
  8. The Lender may release, surrender, exchange, modify, impair or extend the periods of duration or the time for performance or payment of any collateral securing the obligations of the Debtor to the Lender, and may also settle or compromise any claim of the Lender against the Debtor or against any other person or corporation whose obligation is held by the Lender as collateral security for any obligation of the Debtor or the Lender.
  9. This Guarantee is for the use and benefit of the Lender, and will also be for the use and benefit of any subsequent Lender to whom the Lender may assign this Guarantee.
  10. The liability of the Guarantor will continue until payment is made of every obligation of the Debtor now or later incurred in connection with the Debt and until payment is made of any loss or damage incurred by the Lender with respect to any matter covered by this Guarantee or any of the Agreement.
  11. The Guarantor further waives all rights, by statute or otherwise, to require the Lender to institute suit against the Debtor, and to exercise diligence in enforcing this Guarantee or any other instrument.
  12. All present and future indebtedness of the Debtor to the Guarantor is hereby assigned to the Lender. All monies received by the Guarantor from the Debtor will be received in trust for the Lender and upon receipt are to be paid over to the Lender until such time as the Debt owed by the Debtor has been fully paid and satisfied.
  13. The Guarantor represents that at the time of the execution and delivery of this Guarantee nothing exists to impair the effectiveness of this Guarantee.
  14. All of the Lender’s rights, powers and remedies available under this Guarantee and under any other agreement in force now or anytime later between the Lender and the Guarantor will be cumulative and not alternative, and will be in addition to all rights, powers and remedies given to the Lender by law or in equity.
  15. The Lender may, at its option, proceed in the first instance against the Guarantor to collect the obligations covered by this Guarantee without first proceeding against any other person, firm or corporation and without resorting to any property held by the Lender as collateral security.
  16. All pronouns will include masculine, feminine and/or neuter gender, single or plural number, as the context of this Guarantee may require.
  17. This Guarantee is made pursuant to the laws of the State ofWisconsin. In the event that this Guarantee must be enforced by the Lender, all reasonable costs and expenses, including attorney’s fees, incurred by the Lender will be paid by the Guarantor.
  18. The invalidity or unenforceability of any one or more phrases, sentences, clauses or sections in this Guarantee will not affect the validity or enforceability of the remaining portions of this Guarantee or any part of this Guarantee.
  19. No alteration or waiver of this Guarantee or of any of its terms, provisions or conditions will be binding upon the Lender unless made in writing over the signature of the Lender or its representative.
  20. Words of “Guarantee” contained in this Guarantee in no way diminish or impair the absolute liability created in this Guarantee.
  21. Any notice to be given to the Guarantor may be sent by mail, telephone, fax, email or otherwise delivered to the address provided below.

Phone No.:       ____________________________

Fax No.:   ____________________________

 

IN WITNESS WHEREOF the Guarantor hereunto affix its signature this ______________________ atMakatiCity.

ABC CORPORATION

Guarantor

By:

        _________________

        President

SIGNED IN THE PRESENCE OF:

_____________________           _____________________

 

ACKNOWLEDGMENT

Republic of thePhilippines)

MakatiCity                          ) SS.

 

BEFORE ME, a Notary Public in and forMakati City,Philippines, this ___________________ personally appeared:

Name:                              Passport No.    Date/Place Issued

_________________            _______________       _____________________

known to me to be the same person who executed the foregoing instrument and he acknowledged to me that the same is her free and voluntary act and deed.

IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my notarial seal on the date and at the place first above written.

Doc. No. _______;                    

Page No. _______;                    

Book No. ______;

Series of _________.

 

AFFIDAVIT OF DISCREPANCY IN SIGNATURES

(E.G. A KOREAN HAS KOREAN AND ENGLISH NAMES AND SIGNATURES)

 

 

REPUBLIC OF THEPHILIPPINES)

MAKATICITY                              ) S.S

 

 

SWORN STATEMENT

 

I,      KIM PARK, South Korean, born on June 25, 1970,and of legal age, with residence/office address at87 Santol St.,  AyalaAlabangVillage,MuntinlupaCity, after being duly sworn in accordance with law, hereby depose and certify that:

 

1.     _______(write Signature in Korean Script)_________ is my Korean signature and is the specimen that appears in my valid identification cards, while ___write Signature English Script­­­____ is my English signature.

 

2.     Both specimens, as displayed above, are being used by me as my signatures.

 

3.     I execute this Sworn Statement to attest to attest to the truth of the foregoing and in   connection with the Bank’s requirement to present an English signature aside from my Korean signature.

 

 

 

                                                        KIM PARK

                                                           Affiant

 

SUBSCRIBED AND SWORN TO before me this _______ day of  ____________ affiant exhibiting to me his Passport bearing No. _____________ issued on _________________ at __Quezon City_  .

 

 

 

Doc. No.: ________

Page No.: ________

Book No.:________

Series of  ________

 

 

PRESIDENT OBAMA’S PARENTS

About Obama’s father

By: Belinda A. Aquino
Philippine Daily Inquirer

8:06 pm | Wednesday, June 22nd, 2011

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HONOLULU– A friend of mine inHawaiiwho read my recent commentary onUSPresident Barack Obama’s mother called to say it would be in keeping with the recently observed Father’s Day to write something about his father as well. My friend thinks Barack Obama Sr. has been getting a bum rap in the media as a womanizer, alcoholic, dead-beat father, an arrogant intellectual, and so on. He must have had a story, too.

I agree, and it’s only fair to hear the other side of the narrative.

Fortunately, through the Freedom of Information Act, many heretofore unknown details about the elder Obama have surfaced. After he went to Harvard to do his Ph.D. in economics, he never returned toHawaiito fetch his wife Ann Dunham and their baby Barry, now the president of theUnited States. After he passed his comprehensive exams in Harvard for his Ph.D. in 1964, he requested the Immigration and Naturalization Service (INS) to extend his visa to enable him to finish. And this was where his troubles began.

AP correspondent Bob Salsberg reports that Obama’s request was denied by the INS. He returned to his nativeKenyawithout finishing his doctorate. This must have been painful to him. Of course, his visa was terminated.

Evidently, Harvard had written a memo to the INS expressing concern about the elder Obama’s “personal life and finances.” But this was not the first time the INS was concerned. Back inHawaiiin 1961, when Obama Sr. was still an undergraduate, the INS inHonoluluwas informed that he had married Stanley Ann Dunham, despite the fact that he already had a wife inKenya. Apparently, he had told his adviser at the university that he had divorced his wife inKenya, the same thing he told his future wife Ann, except that he was not telling the truth.

Lying to immigration was punishable then as now. In 1964, the director of Harvard’s international office wrote Obama Sr. that while he had indeed finished the academic requirements for his Ph.D., his department in the Graduate School of Arts and Sciences “did not have the money to support him.” The letter added, “We have therefore come to the conclusion that you should terminate your stay in theUnited Statesand return toKenyato carry on your research and the writing of your thesis.”

If you are a foreign student inAmerica, something like this sounds like a death sentence. It is not known whether he appealed the INS decision or not. In any case, he already had a previous record that could be counted against him. He could have consulted a lawyer but either he couldn’t afford one or it didn’t occur to him.

Frustrated and unable to stay in theUS, Obama Sr. returned toKenya. Even if he was allowed a grace period to stay, he probably was not in a financial position to send for his wife and son back inHawaii. In the first place, Ann had already divorced him, compounding his woes.

Back inKenya, he was reported to have married again a third time. Some media reports even talked about a fourth marriage. He worked as a government economist and also for an oil company. His problems with money to support his families must have added to his personal woes.

His personal as well as professional life deteriorated to an alarming degree, affecting his work. One night in 1982 as he was driving home, his car crashed head-on into a tree and he was killed. He was only 46.

His only visit back inHawaiihappened when Barack Jr. was already 10 years old. The latter would eventually write the book “Dreams from My Father,” which became a bestseller shortly before he ran for US president in 2008.

It was a tragic end because the father was one ofKenya’s most promising young intellectuals in the 1960s sent to theUSto prepare themselves for future leadership positions inKenya. He was, according to reports, a very frustrated man, which was perfectly understandable.

Now, about the rumor mills. It appears from facts now known that Obama Sr. did not exactly abandon his wife and son. In those days, as now, once the INS terminated your visit under suspicion of wrongdoing, you had to clear out as soon as you could. To defy the order was to invite deportation. The INS was not very sympathetic to his prolonged stay despite his academic promise. Harvard issued a disclaimer saying it could not find in its files the memo it was supposed to have sent to the INS objecting to Obama Jr.’s request.

As to reports that he was so drunk he drove his car into a tree, we will never know whether these are true or not. In any case, both he and his former wife Ann, had they lived to their 60s and 70s, would have been so thrilled that their little Barry would become president of the US, the first from African-American ranks to achieve this position and status in the world. It is so sad that they had to die so young, which is a reflection of the hard times they lived in.

(A retired professor of political science and Asian studies, Belinda A. Aquino was also the founding director of the Center for Philippine Studies at theUniversityofHawaiiat Manoa.)

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Obama’s mother

By: Belinda A. Aquino
Philippine Daily Inquirer

11:13 pm | Saturday, June 11th, 2011

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HONOLULU– The end of a fascinating recently published book has President Barack Obama saying: “It was a sense that beneath our surface differences, we’re all the same, and that there’s more good than bad in each of us. That’s precisely the naivete and idealism that was part of her. And that’s, I suppose, the naive idealism in me.”

Obama was reminiscing about his late mother, Stanley Ann Dunham, in a book written by journalist Janny Scott titled. “A Singular Woman.” It’s a riveting account of a feisty Kansas-born white woman with a curious mix of idealism and pragmatism. Scott interviewed about 200 people who knew Dunham intimately, including President Obama and his half-Indonesian half-sister, Maya Soetoro-Ng.

Her male first nameStanleyimmediately raises eyebrows. Her mother, Madelyn, was a Bette Davis fan and liked the film in which the actress played a character namedStanley. That was also the name of Ann’s father. But that was only the beginning of an extraordinary life for a girl born in 1942 that would spiral in and out ofKansastoHawaiitoIndonesiaand to many parts of the world. At age 17, she moved toHawaiiwith her parents, enrolled as a freshman at theUniversityofHawaii. And at 18, she married the first African graduate student, Barack Obama Sr., at the university, later giving birth to the future president ofAmerica, who was called Barry as a boy. At that time, interracial marriages were frowned upon or forbidden.

Barack Sr. went to Harvard to get his PhD and was supposed to send for his wife and Barry later. But the soon-to-be absentee husband returned instead to his nativeKenya, where he was already married before he went toHawaii.  In fact, he married again a third time on his return toKenya. It was many years before he saw Ann and Barry again.

Ann, meanwhile, had met another foreign student fromIndonesia, Lolo Soetoro, who was anEast-WestCentergrantee inHawaii.  She married him and joined him in Java, where she gave birth to Maya, who met her half-brother Barry only when he moved toIndonesiato be with the family.

But fate was unkind to the adventurous woman a second time around. Her marriage to Lolo didn’t work out either and they got divorced. It seemed Ann became more Indonesian as Lolo became more American. He worked for an American business firm in Java. Ann, determined to become an anthropologist, struggled to gather lots of field data on Indonesian village industries, like batik-making, to write up as a dissertation. She asked for extensions to finish her PhD and her understanding adviser, anthropology professor Alice Dewey, always obliged, knowing how talented Ann was.

So after two failed marriages with two young children needing care and education, an unfinished dissertation and an uncertain future, Ann immersed herself in work to tide her over. The Ford Foundation hired her and sent her to other places likeIndia,Bangladesh,PakistanandNew York, where she got involved in Women’s World Banking. Ann became an expert in microfinance, long before the term was invented, given her extensive expertise on Indonesian villages.

But her main priorities were Barry and Maya, and her love for them kept her going. She had home-schooled both of them inIndonesia, waking the boy at four in the morning to tutor him in his subjects. He would occasionally complain, but she would always say, “Look, buster, this is no picnic for me either.”

A workaholic, she barely slept, according to some friends. She was also messianic and was determined to help villagers improve their lives, crossing rivers and climbing mountains in remote places.

“She had an unusual ability to adapt,” notes Scott’s book. Despite her frenzied life, she never neglected her children. In 1984, she took Maya on a “grand tour” ofThailand,Bangladesh,IndiaandNepal. She constantly checked on Barry, now called Barack, arranging itineraries for him toHonolulu, to Java, to wherever he was at the time –Los Angeles,Columbiaand Harvard, where he was the first black president of the prestigious Harvard Law Review.

Ann was vainglorious about her “unusually gifted” son. She would continue to send him messages like, “If you want to grow into a human being, you’re going to need some values.” These values were shaped by her Midwestern roots and those of her adopted homeland,Indonesia. They include tolerance, compassion, hard work, discipline and caring for others.

The multiple stresses over her family stretching over oceans, her constant need for adequate financial resources, unfinished dissertation and work-related demands began to take a toll on her. She struggled to finish her dissertation now overdue by 20 years. Her adviser asked her to cut it down and focus on only one village industry. Still it spanned a thousand pages, a record in the annals of dissertation writing anywhere. Meanwhile, her father, Stanley Dunham, who had taken care of Barack in his teens inHawaii, died. Her mother was left alone occasionally taking care of Maya. In 1995, Ann fell ill with what was diagnosed as uterine cancer. Dreading gynecologists, she had ignored increasing signs of pain. Compounding her misery, she was denied disability benefits.

She died at age 52 with Maya and her mother at her side. Barack flew home toHonolulufromChicagowhere he was elected state legislator. In a solemn ceremony, he and Maya went over to their favorite beach on southeastOahuto scatter their mother’s ashes into the sea and wind – and into eternity.

What an incredible life indeed for a woman unlike any other. It was a bittersweet life and what was so sad was that, she didn’t live long enough to see her little boy Barry become the first African-American president of the United States. She would have been so proud!

Retired professor of political Science and Asian Studies, Belinda A. Aquino was also director of the Center for Philippine Studies at theUniversityofHawaiiat Manoa.