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in the $1,000,000.00 Note. Your investment will also be
personally guaranteed by myself along with the personal
guarantee of James Goldstein.
Then, in a second letter from Mr. Marsh to decedent, dated
June 6, 1991, Mr. Marsh enumerates five enclosed documents. The
first four pertain to the $1 million note and deed of trust. The
fifth item is “Personal Guarantee dated May 1, 1991, executed by
Jack P. Marsh.”
Later, an August 15, 1994, letter from Michael to Mr. Marsh
advised that the Trust’s interest in the Marsh note had been
assigned to the partnership and asks Mr. Marsh to acknowledge his
agreement that “all preexisting assignments of the collateral
Note and Deed of Trust security and also your Guarantee dated May
1, 1991 remain in full force and effect for the benefit of” HFLP.
The August 28, 1994, letter agreement between Mr. Marsh and the
Trust then similarly declares that security for the $450,000
investment funds is assigned to the partnership and that “Jack P.
Marsh’s personal guarantee for the $450,000.00 investment funds
is still in effect and is transferred to” HFLP.
Lastly, a February 10, 1995, letter from Mr. Marsh to
Michael states that the “$450,000.00 Note is personally
guaranteed by Jack P. Marsh” and that the “$1,000,000.00 Carson
Harbor Village, Ltd. Note is personally guaranteed by James
Goldstein.”
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