Fillable Printable Guarantee Agreement - Scotiabank

Guarantee Agreement - Scotiabank

Guarantee Agreement

2153718 (04/15)

Page 1 of 2

In this Guarantee, guarantor means each person who signs the Guarantee as guarantor of the Mortgage/Charge

given by:

(“we”, “our” and “us”),

Customer

Lender

Property Address

Lender’s Mortgage Reference Number

Mortgagor means each person who signs or is otherwise bound by the Mortgage/Charge (“Mortgage”) as

Mortgagor/Chargor.

In return for us making a loan to the Mortgagor, the guarantor, by signing this Guarantee, unconditionally

guarantees to us the Mortgagor’s payments of the Mortgage (including interest, whether or not the interest rate

is changed, and other costs and charges), when due and compliance with the Mortgagor’s other obligations,

under the Mortgage. Each guarantor agrees that, if the Mortgagor defaults in making any payment or in

performing any other obligation under the Mortgage, the guarantor will pay us upon demand all of the amounts

secured by (owing under) the Mortgage and comply with all of the obligations under the Mortgage which have

not been complied with by the Mortgagor. Each guarantor will be jointly and severally responsible with the

Mortgagor and with one another (if more than one) for all obligations under the Mortgage, including payment of

the amounts secured by (owing under) the Mortgage.

It is understood that, either before or after requiring payment from any other person, we can without releasing

or lessening the guarantor’s liability and without obtaining the consent of or giving notice to the guarantor:

Make new advances under the Mortgage;

Grant any extensions of time for payment and extensions of the term of the Mortgage, including any variations,

amendments, replacements, additions or renewals of the Mortgage or any debt secured by the Mortgage;

Increase the rate of interest payable under the Mortgage or on any debt secured under the Mortgage, either

during the initial term or in any subsequent renewal period;

Release the whole or any part of the property from the Mortgage or any other security;

Delay or refuse to enforce the Mortgage or any debt secured by the Mortgage;

Otherwise deal with the Mortgagor, any other person (including any guarantor), any security (including the

Mortgage) or the property covered by the Mortgage, including releasing, realizing on or replacing any

security we may hold;

Waive any provision of the Mortgage or change any terms of the Mortgage at any time.

•

We may require payment from any guarantor without first exhausting our recourse against the Mortgagor or any

other person (including any guarantor) or on any security (including the Mortgage). The obligations of the

guarantor under this Guarantee shall be as principal debtor and not as surety and are not affected by the release

of any Mortgagor or any other person (including any guarantor) of his/her obligations under the Mortgage or

any compromise or termination of the Mortgage whether in bankruptcy proceedings or otherwise. Each

guarantor’s obligations shall be binding upon the guarantor’s successors or personal representatives.

Dated at day of

(Witness)

(Guarantor)

Page 2 of 2

2153718 (04/15)

Guarantees Acknowledgment Act (Alberta)

(Section 3)

CERTIFICATE

I HEREBY CERTIFY THAT:

Note: To be

completed

when guarantor

is an individual

and the

guarantee is taken

in, or enforceable

in Alberta.

STATEMENT OF GUARANTOR

I am the person named in this certificate.

SIGNATURE OF GUARANTOR

(guarantor’s name),

the guarantor in the guarantee dated made between

and

I am satisfied myself by examination of the guarantor that he/she is aware of the contents of the

guarantee and understands it.

day of

Scotia Mortgage Corporation and The Bank of Nova Scotia, which this certificate is attached to or

noted on, appeared in person before me and acknowledged that he/she had executed the

guarantee.

CERTIFIED by

(print name)

at the

, Lawyer

of ,

Province of

SIGNATURE

this

in the