The undersigned hereby agrees to unconditionally personally guarantee payment and performance under the terms of this agreement, to the holder of this agreement, in the event the above buyer fails to do so. The undersigned hereby waives any notices regarding the agreement on this guarantee and agrees that this guarantee shall be applicable for as long as this agreement and account shall be operative. This guarantee shall for all purposed be deemed to be made in and shall be governed by the laws of the state of Texas and the county of Midland in which application has been made for approval.