Texas Iron & Steel Credit Application

1.IN CONSIDERATION OF (hereinafter “Creditor”) extending credit to (hereinafter “Customer”) , the undersigned, (hereinafter “Guarantor”) does hereby personally and if more than one, jointly and severally, guarantee unconditional, full and prompt payment by the Customer to the Creditor for all merchandise which has heretofore been and/or hereafter is purchased by the Customer, and for any other expense incidental to said transactions, including reasonable attorney fees and collection costs and surcharges due under and invoices issued by Creditor. The Guarantor further agrees that, on failure of the customer to pay for such purchases upon maturity of the invoices therefore, said Guarantor shall immediately pay the amounts thereof, and the additional charges and expenses enumerated above, together with interest, at the maximum legal rate from maturity of each invoice to the date of payment. 2.This is a guarantee of payment. The Creditor shall not be required first to exhaust or pursue any remedy it may haveagainst the Customer. 3.This guaranty shall be a continuing one and shall remain in full force and effect until written notice, canceling same, shallbe sent by the Guarantor to the Creditor by registered mail, return receipt requested, and received by the Creditor at its offices. Upon such cancellation, the Guarantor shall remain liable for all goods theretofore shipped and for all goods theretofore ordered, although not shipped until after such cancellation. 4.The Guarantor hereby waives notice of (i) the acceptance of this guaranty by the Creditor, (ii) of any transactions with theCustomer, (iii) of any changes of the terms, any extension of time, any extension of credit to Customer, and (iv) of any non-payment or defaults by Customer. 5.The Guarantor waives any right of set-off, recoupment or counterclaim, that he or she may possess against Creditor orwhich Guarantor may have against Customer. The Guarantor waives any right of subrogation against Customer of the Claim(s) of Creditor. 6.In any suit brought on this guaranty, Creditor shall only be required to establish the amount due to it from said Customer,and the books and records of the Creditor, when so proved, shall be conclusive evidence of the obligation of both the Customer and the undersigned. 7.The designation of “Guarantor” as contained herein, includes multiple guarantors, and when the document is signed bymore than one person as guarantor, shall be construed as binding on all guarantors jointly and severally. THIS IS AN INDIVIDUAL GUARANTY AND ALL GUARANTORS, WHETHER ONE OR SEVERAL, SHALL BE PERSONALLY AND INDIVIDUALLY LIABLE, IRRESPECTIVE OF ANY DESIGNATION OF TITLE OR POSITION IN ANY WAY APPENDED TO THEIR SIGNATURE HEREON. 8.This guaranty shall be construed pursuant to the laws of the State of .