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FAYETTE ELECTRIC COOPERATIVE, INC.
Section No. VI
Sheet No. 9
Effective Date: April 12, 1993
Applicable: Entire Service Area
CONTRACT OF GUARANTY
IN LIEU OF RESIDENTIAL SERVICE CASH DEPOSIT
This contract of guaranty shall apply to all services furnished to Customer, whether presently or as applied for, and any additional services which Customer may from time to time be furnished during the term of this contract. Guarantor agrees that the provisions or terms on any service agreement between the Cooperative and Customer may be altered, extended, changed, modified, renewed, released, or canceled with or without release of the Customer from liability or obligations, all without the consent of Guarantor, and Guarantor agrees that this contract of guaranty and the liability of Guarantor hereunder shall in no way be affected, diminished, or released thereby. Guarantor shall not be entitled to make any defense which the Customer could not make or invoke against any claim asserted by the Cooperative in any suit or other action instituted by the Cooperative to enforce this contract of guaranty or the obligations of the Customer for service rendered to the Customer or to be excused from any liability hereunder, and Guarantor hereby expressly waives any defense in law or in equity which is not or would not be available to the Customer, it being the intent hereof that the liability of Guarantor hereunder is primary and unconditional.
Guarantor further COVENANTS AND AGREES that, if Customer at any time shall be in default in the payment of the charges for said services, the Guarantor will immediately pay all outstanding charges to the Cooperative, up to the maximum amount stated herein. In the event Guarantor defaults in making such payment, Guarantor agrees that the amount due from customer, up to the maximum amount stated herein, may be transferred to any account that Guarantor has with the Cooperative. Guarantor further UNDERSTANDS, COVENANTS, AND AGREES that Guarantor’s electric service, if any, is by this contract made subject to SUSPENSION OR DISCONNECTION in accordance with the Cooperative’s service regulations if all charges guaranteed herein, including the charges due from Customer which have been transferred to Guarantor’s account, are not promptly paid when due.
The Cooperative’s right of suspension or disconnection of Guarantor’s service pursuant to this contract and its exercise or non-exercise of that right shall not constitute a waiver of the Cooperative’s right to bring suit against Guarantor to enforce Guarantor’s obligations herein assumed, and the Cooperative reserves the right to undertake such other actions as the Cooperative may have the right to take in order to enforce or protect its rights.
If service is disconnected as described above, the Cooperative shall have the further right to refuse to provide service to the Guarantor, or in the alternative to require an additional deposit from Guarantor, to require payment of the service reconnect fee set out in the Cooperative’s tariff, to require payment in full of all past due amounts guaranteed under this contract, or any combination or all of the foregoing, before reconnecting and providing service to the Guarantor. If Guarantor is not a customer of the Cooperative, and if all charges guaranteed herein are not promptly paid when due, the Cooperative shall have the right to refuse to provide service to the Guarantor if Guarantor later applies for electric service from the Cooperative.
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