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GUARANTY CONTINUED PAGE 7 <br /> Whenever the consent of Lender is required under this Guaranty, the granting of such <br /> consent by Lender in any instance shall not constitute continuing consent to subsequent <br /> instances where such consent is required and in all cases such consent may be granted or <br /> withheld in the sole discretion of Lender. <br /> EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL OF <br /> THE PROVISIONS OF THIS GUARANTY AND AGREES TO ITS TERMS. IN <br /> ADDITION, EACH GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS <br /> EFFECTIVE UPON GUARANTOR'S EXECUTION AND DELIVERY OF THIS <br /> GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIL <br /> TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLED <br /> "DURATION OF GUARANTY? NO FORMAL ACCEPTANCE BY LENDER IS <br /> NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY IS <br /> DATED , 2000. <br /> GUARANTOR: <br /> THE CITY OF SAN LEANDRO <br /> anis, City Manager <br /> APPROVED AS TO FORM: <br /> / o <br /> Steven R. Meyers, City Attorney <br /> 1:\W PDUlnrsw\I 36\001\AGRI:E\2000 \GUARANTY <br /> • <br /> • <br />