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Deed of Guarantee and Indemnity at Jewell Tyres

THIS IS AN IMPORTANT DOCUMENT. IF YOU SIGN IT, YOU ARE UNDERTAKING
SIGNIFICANT FINANCIAL OBLIGATIONS. BEFORE YOU SIGN IT YOU
SHOULD SEEK INDEPENDENT LEGAL AND FINANCIAL ADVICE.
DEED OF GUARANTEE AND INDEMNITY
THIS DEED OF GUARANTEE AND INDEMNITY
BETWEEN
Keelangie Nominees Pty Ltd (ACN 005 226 497) as trustee for the DG & CV Jewell Family Trust trading as “Jewell Tyres” (Jewell Tyres);
AND
Name:_____________________________
Address:____________________________
Name:_____________________________
Address:____________________________
Guarantor (you)

In consideration of Jewell Tyres providing or continuing to provide goods or supply credit to the Purchaser at your request, Jewell Tyres have extended or may extend or continue to extend credit to the Purchaser whose details are noted in the Application for Commercial Credit (together with it successors the Debtor) on condition that you enter into and execute a Guarantee and Indemnity on the following terms.
IT IS AGREED:
1. This Guarantee and indemnity is entered into in consideration of Jewell Tyres providing or continuing to provide credit in connection with the provision of goods to the Debtor.
2. You unconditionally and irrevocably guarantee the payment of all amounts payable by the Debtor to Jewell Tyres for any reason or circumstance in connection with any agreement between the Debtor and Jewell Tyres and that the Debtor will punctually perform and observe all of the Debtor’s obligations under any agreement between Jewell Tyres and the Debtor. If the Debtor fails to pay any amount payable to Jewell Tyres on time and in accordance with any arrangement under which it is expressed to be owing, then you agree to pay the amount outstanding on demand by Jewell Tyres.
3. As a separate obligation, you unconditionally and irrevocably indemnify Jewell Tyres and agree to pay Jewell Tyres on demand for any liability, loss or damage Jewell Tyres may suffer or incur for any reason if the Debtor does not pay Jewell Tyres any amounts which the Debtor owes under, or in connection with, any agreement or if Jewell Tyres cannot for any reason recover any amount from you under the guarantee contained in clause 2 or as a result of the Debtor failing to punctually perform and observe all of the Debtor’s obligations under any agreement between Jewell Tyres and the Debtor. You agree to pay Jewell Tyres on demand a sum equal to the amount of any such liability, loss or damage. The loss or damage suffered by Jewell Tyres may include legal costs on a solicitor and client basis arising from any default by the Debtor or by you under this Guarantee.
4. This Guarantee and Indemnity is continuing and is irrevocable until discharged under the terms of this Guarantee and Indemnity and the credit facility covered by the Debtor’s application ceases.
5. Your obligations are principal obligations and not ancillary or collateral to any other obligation.
6. Jewell Tyres are not required to proceed against the Debtor, or exhaust any remedies Jewell Tyres may have against the Debtor, or enforce any security Jewell Tyres may hold with respect to the Debtor’s obligations but are entitled to demand and receive payment from you when any payment is

due under this Guarantee and Indemnity.

7. You will remain liable under this Guarantee and Indemnity even if:
(a) Jewell Tyres give the Debtor extra time to pay;
(b) Jewell Tyres tell the Debtor that it does not have to pay;
(c) Jewell Tyres are slow in taking action to enforce this Guarantee and Indemnity;
(d) Jewell Tyres changes any agreement without your consent;
(e) Jewell Tyres enter into any agreement as agent for another or transfers its interest under any agreement to another person or grants any security over any agreement;
(f) a person who was to sign this Guarantee and Indemnity does not do so;
(g) the whole or part of the agreement between Jewell Tyres and the Debtor is invalid or unenforceable;
(h) The Debtor is discharged from performing the Debtor’s obligations otherwise than by full and complete performance of the Debtor’s obligations; or
(i) anything else happens which would otherwise have the effect of releasing you from the guarantee or indemnity contained in this Guarantee and Indemnity.
8. Jewell Tyres may at any time release or discharge the Guarantor or any of them from the obligations of this deed or grant time to pay or enter any other arrangement with the Debtor or the Guarantor without affecting the liability of any other Guarantor under this deed except that any payment received by Jewell Tyres under any such composition or arrangement will operate as a discharge of liability to the extent of any payment.
9. Until the whole of the Debtor’s obligations have been paid or satisfied, you must not (except with our written consent):
(a) reduce your liability under this Guarantee and Indemnity by claiming that you or the Debtor or any other person has a right of set-off or counterclaim against Jewell Tyres;
(b) claim an amount in the insolvency of the Debtor or another guarantor a party to this Guarantee and Indemnity.
10. Any payment made by or on behalf of the Debtor which is later avoided by the application of any statutory provision shall be deemed not to discharge the Debtor’s indebtedness and in such event the parties are to be restored to the rights which each would respectively have had if the payment had not been made.
11. Where the Guarantor has the right to p[rove in the insolvency administration of the Debtor, the Guarantor must do so and hold any payments received on trust for Jewell Tyres.
12. You acknowledge that you are responsible for making yourself aware of the financial position of the Debtor and any other person who guarantees the payment of money under this Guarantee and Indemnity.
13. You declare that you are not signing this Guarantee and Indemnity as a result of a representation, statement or promise made by Jewell Tyres or anyone on its behalf other than as set out in this Guarantee and Indemnity. You acknowledge that prior to signing this Guarantee and Indemnity, you were advised by Jewell Tyres to obtain independent legal and financial advice and represent that you fully understand the nature and extent of your obligations under this Guarantee and Indemnity. You acknowledge that you have made your own inquiries as the Debtor’s past and prospective dealings with Jewell Tyres and have satisfied yourself as to the extent of the Debtor’s obligations to Jewell Tyres and you acknowledge that Jewell Tyres is under no obligation to advise you of any change to its’ terms and conditions of trade with the Debtor, even if they would have the effect of increasing the Guarantor’s liability under this deed.
14 For the purpose of securing payment to Jewell Tyres of the moneys owed by the Debtor to Jewell Tyres the Guarantor:
(a) Hereby charges all of the Guarantor’s beneficial interest in real and personal property (including property acquired after the date of this deed) in favour of Jewell Tyres whether or not a demand has been made on the Debtor or on the Guarantor.
(b) Agrees that Jewell Tyres may lodge a caveat against the Guarantor’s land charged.
(c) Agrees that if the charge becomes void or unenforceable that it may be severed from this deed without effecting its’ validity or any of Jewell Tyres’ other rights and remedies against the Guarantor.

15. You are liable for all the obligations under this Guarantee and Indemnity both separately on your own and jointly with any one or more other persons named in this Guarantee and Indemnity.
16. The laws of Australia, and within Australia the laws of the state of Victoria, apply to this Guarantee and Indemnity. The parties irrevocably submit to the jurisdiction of the appropriate court convenient to Jewell Tyres in respect of any claims, proceedings and matters arising out of or in respect of these terms and conditions.
17. You consent to Jewell Tyres:
(a) obtaining from a credit reporting agency a consumer credit report containing information about you or your related entities for the purpose of assessing whether to accept you as a guarantor for credit applied for by the Debtor and to assist in collecting overdue payments;
(b) disclosing to a credit reporting agency information about any default by you or your related entitles under this Deed of Guarantee and Indemnity.

Executed as a deed by the Guarantor:

Dated this_________________________________ day of_ ___________________________

SIGNED SEALED AND DELIVERED )

by
(signature of guarantor)
in the presence of:
Signature of Witness

SIGNED SEALED AND DELIVERED )

by
(signature of guarantor)
in the presence of:
Signature of Witness
Full Name of Guarantor (BLOCK LETTERS)

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Address of Guarantor
Name of Witness (BLOCK LETTERS)
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Address of Witness
Full Name of Guarantor (BLOCK LETTERS)

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Address of Guarantor
Name of Witness (BLOCK LETTERS)
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Address of Witness

 

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