The liability of the Guarantor hereunder shall not be affected in any manner by the fact that the

Company has received the security from the said Customer for the repayment of the debt herein
before the set forth and the Company is not required to first resort to such security before looking to
the Guarantor for payment. In the event, however that the Guarantor makes payment hereunder, the
Guarantor shall be entitled to receive from the Company any security for the payment of such debt
which the Company may then hold which security shall be properly assigned or otherwise
transferred to the Guarantor.