Enforcement of Guaranty

Enforcement of Guaranty. FLIC shall give Guarantor written notice of non-payment of an obligation due and payable by an Original Obligor under the Cornerstone Notes at the same time it gives notice of such non-payment to the applicable Original Obligor in accordance with the related Cornerstone Note. Guarantor shall have the right to cure a default (to the extent capable of cure by Guarantor) under the applicable Cornerstone Note within the cure period provided for therein, if any (the "Cure Period"). This Guaranty... shall be enforceable against the Guarantor only at written notice to Guarantor stating that the amount claimed has become due and payable to FLIC by the Original Obligors and remains unpaid after the expiration of any applicable Cure Period (the "Payment Demand"). All payments to be made and obligations to be performed hereunder shall be payable to FLIC within 10 Business Days after receipt of the Payment Demand. All payments by the Guarantor hereunder shall be paid in full, without setoff or counterclaim or any deduction or withholding whatsoever, including, without limitation, for any and all present and future taxes. View More