Personal Guaranty Agreement by Jeffrey P. Zernov for Nature Vision, Inc. Promissory Note to Cass Creek International, LLC
Jeffrey P. Zernov personally guarantees the repayment, with interest, of a $500,000 promissory note issued by Nature Vision, Inc. to Cass Creek International, LLC, dated September 20, 2007. If Nature Vision, Inc. fails to pay, Cass Creek International, LLC must first attempt to collect the debt through the courts before seeking payment from Mr. Zernov. This agreement ensures that the lender has an additional source of repayment if the borrower defaults.
Exhibit 10.7
EXECUTION
PERSONAL GUARANTY
The undersigned Jeffrey P. Zernov hereby guarantees the collection with interest of that certain promissory note made by Nature Vision, Inc. (“Maker”) to Cass Creek International, LLC (“Holder”) in the principal sum of Five Hundred Thousand Dollars ($500,000) dated September 20, 2007 (“Note”), on the condition that if Maker defaults in payment of Note, Holder must take steps to have a court of appropriate jurisdiction issue and return an execution on judgment to recover from Maker as much of the amounts owing to Holder arising from the Note as can be obtained, before requiring payment of any part from the undersigned.
GUARANTOR:
| /s/ Jeffrey P. Zernov | ||
| Jeffrey P. Zernov |
| Dated September 20, 2007 |
