Personal Guaranty if Principle is Guarantor's living trust?

[Account Closed]

In this article, an attorney presents a template for a California Personal Guaranty...  https://www.stimmel-law.com/en...

It seems to address 2 of my top 3 concerns...  

1. The Guarantor has an ownership or family interest in the Principle (Borrower) -- Is it sufficient to simply include this as a recitation?

[Commonly, the guarantor has an ownership interest in the entity or a family interest with the principle and that fact should be recited in the guaranty. Typically, a clause will read... "X agrees to pay all debts of Y, a company in which X has an ownership interest"]

"GUARANTOR agrees to pay all debts of BORROWER, an entity in which GUARANTOR has an ownership interest or family interest"

2. Lender need not exhaust any remedies against Principle (Borrower) before seeking recovery from the Guarantor.

"Should BORROWER default in the prompt payment of sums due LENDER, LENDER may immediately proceed against GUARANTOR, and shall give written notice to the GUARANTOR, together with an accounting of all sums due as to which BORROWER is in default, by regular or certified mail. LENDER may, from time to time, extend the time for payment or accept partial payments of or additional security for balances due or to become due from the BORROWER without or prior to, such notice to the GUARANTOR. GUARANTOR hereby waives the right to require LENDER to first proceed against BORROWER prior to enforcing this Guarantee."

The remaining concern is...

3. Are these clauses suitable if the Principle (Borrower) is the Guarantor's living trust? (rather than the Guarantor's corp) The article focuses on a personal guaranty for a corp loan / LOC.