DIRECTORS’ GUARANTEE Wp THE CITIZENS FCONOMIC FMPOWERMENT COMMISSION In consideration of giving us credit in the sum of K 5790.00 ( FIVE THOUSAND, SEVEN HUNDRED AND NINETY KWACHA) a) David Nkhoma Collectively and severally (hereinafter called ‘the Principals’) we the undersigned Directors jointly and severally hereby guarantee the payment or discharge to you and undertake that the undersigned will on demand in writing made on the undersigned pay or discharge t0 you all moneys and liabilities which shall for the time being due owing of incurred by the Principals to you whether actually or contingently and winalice suiely un juindy with auy dias posum and wide as Fxineipal un sussty including interest commission or other lawful charges and expenses which you may in the course of your business charge in respect of any of the matters aforesaid or for keeping the Principals account (including any further advances made by you to the Principals and any other liabilities of the Principals to you arising during the three months period of notice hereinafter referred to) together also with:- (such further sum tor interest (whether or not the same shall have been compounded) and banking charges accruing due to you from the Principal before or after the date of demand or expiration of the said macs wo oe Cao antay Le ail oui debi! ws da Puluelpals avout at such date, and @) All costs and expenses recoverable by you from the Principals. =6. In the event that any of the Principals default on their individual or joint obligation to you the Lender you are at liberty to issue a demand to any or all of the undersigned for entire amount advance or any part thereof as the case may be in terms of this guarantee. indemnity basis) arising out of or in connection with the recovery by you of the moneys due to you under this Guarantee. this Guarantee 1s f0 De a continuing security {© you notwitnstanaing any settlement of account or other matter or thing whatsoever but may and shall be determined (save as below provided) and the liability hereunder crystallized (except as regards unascertained or contingent liabilities and the interest charges costs and expenses hereinbefore referred to) at the expiration of three months after the receipt by you from the undersigned of notice in writing to determine it but notwithstanding determination as to one or more of the undersigned this Guarantee is to remain a continuing security as to the other or others. ‘A demand for payment or any other demand or notice under this Guarantee may be made or given by any director manager officer or agent of yours or of any branch of your by letter addressed to the undersigned and sent by post to of left at the last known place of business or abode of the undersigned at your option in the case of a company its registered office and if sent by post shall be assumed to have reached the addressee in the course of post. For all purposes of the liability of the undersigned to you under this Guarantee Geeduding in parivulas lui wliluui pajuda wv te puinalliy oft funguing for all purposes the liability of the undersigned for interest) every sum of money which may now be or which now be or which hereafter may from time to time become due or owing to you as aforesaid by the Principals (or would have i Wenigbecome so due or owing were it not for bankruptcy or winding up of the Principal) shall be deemed to continue due and owing to you by the Principals until the same shall be actually repaid to you notwithstanding the bankruptey or winding up of the Principals until the same shall be actually repaid to you notwithstanding the bankruptey or winding up the Principal(s) or any other event whatever and in case of the death of the Principal(s) all sums which would have been due of owing as aforesaid to you by the Principal(s) or any other event whatever and in case of the death of the Principal(s) all sums of which would hae Leen due uwing as aiuuecnail os yuu by de Paiuwipalioy 0 dae Principal(s) had lived until the time at which you shall receive actual notice of his death shall for all purposes of this Guarantee be deemed included in the moneys due and owing to you by the Principals. ‘This Guarantee is to be in addition to and is not to prejudice or be prejudiced by any securities or guarantees (including any guarantee signed by the undersigned) which you may now or hereinafter hold from or on account of the Principals and is to be binding on the undersigned as a continuing security notwithstanding any payments from time to time made to you or any or any settlement of account or disability or incapacity affecting the undersigned or the death of the undersigned or any other thing whatsoever. This Guarantee is to be applicable to the ultimate balance that may become due to you from the Principals and until payment of such balance the undersigned shall not be entitled to participate in any security held or money received by you on account of such balance or to stand in your place in respect of any such security or money. You are to be liberty in the event of this guarantee ceasing from cause ‘whatsoever to be binding as a continuing security on the undersigned to open a fresh account and to continue any then existing account with the Principals and Eg11. 12. ‘no moneys paid into any fresh account by or on behalf of the principals shall on 1 settlement of any claim under this Guarantee be appropriated towards or have the effect of payment of any part of the moneys due from the Principals at the time of this Guarantee ceasing to be so binding as aforesaid unless the person (other than the undersigned) paying in such moneys shall at the time direct you in wnting specially to appropriate the same tor that purpose. In the event of this Guarantee being determined either by notice by the undersigned or by demand in writing by you or in the event of your receiving notice of any disability or incapacity of the undersigned, it shall be lawful for you to continue the account with the Principals notwithstanding such determination or notice of disability or incapacity and the liability of the undersigned tor the amount due trom the Principals at the date upon which such determination of this Guarantee shall become operative and effect or when you shall receive notice of any disability or incapacity of the undersigned shall snus vinitaiaullig duly subi pagtiscud Dain on vi of de cern by or on behalf of the Principals. Any admission or acknowledgement in writing by the Principals or any person on behalf of the Principals of the amount of the indebtedness of the Principals or otherwise in relation to the subject matter of this Guarantee or any judgment or award obtained by you against the Principals shall be binding and conclusive on the undersigned. You are to be at liberty without thereby affecting your rights hereunder at any time and from time to time (whether before or after any demand for payment made by you or any notice of determination of this Guarantee or receipt by you of any notice of any disability or incapacity of the undersigned ) to refuse or grant (as the case may be) further credit to the Principals to renew any bills of 4 5 ngexchange i i ; \ge or promissory notes for any period and to compound with give tim: for it : payment or grant other indulgence to the Principals or to any obligat bills of exch: saa xchange or promissory notes of otherwise or to accept compositions from and make any other arrangements with the Principals or any persons liable to you in respect of securities hekd or t0 be held by you to give up modify exchange or abstain from pertecting to taking advantage of or enforcing any securities guaranties or other contracts of the proceeds of any of the foregoing and to discharge any parties thereto and to realize any securities in such manner das your sinay stu capsaticnte In the event of the bankruptey or insolvency of the Principal’) or of his entering into a composition or arrangement with his creditors which you may receive from the Principal(s) 0 applied as payments in gross and sh the undersigned to the full extent of this Gi c his estate or any other person shall be taken and all not prejudice your tight to recover from uarantee the ultimate balance which atter the receipt of such payments may remain owing by the Principal(s). jour rights hereunder at release discharge inder this You are also to be at liberty, without thereby affecting y any time and from time to time at your absolute discretion to erwise vary of agree to vary the liability w compound with or oth arrangements with any one oF more of the guarantee or make any other undersigned or of you as you shal thin art to apply the same or any part the owing to you as aforesaid by the Principals. ic fit without any intermediate obligation on your p% ereot in or towards the discharge of the moneys due or asinine ay vals sigs yoo anny hare and keep for such time as you may realized under or by virtue of nt to the credit of the Vou ane alow iv ba ai lesiy wishwut time and from time to time to place think prudent any moneys received recovered OF a separate or suspense accou at any this Guarantee to of at16. your part to apply the same or any part thereof in or towards the discharge of the moneys due or owing to you as aforesaid by the Principals. In the event of the bankruptcy of the Principals you are to be at liberty (notwithstanding payment to you by the undersigned or any other person of the whole or any part of the you) to rank as creditors and prove against the Principals estate for the full amount of your claim and you may and shall receive and retain the whole of the dividends to the exclusion of the eights (if any) of the undersigned as guarantor in competition with you until your claim 1s fully satisfied. Mo apousane sceuniiy ve payne whickeaiay Le avuiked uusder any Cuaeucut from time to time in force relating to insolvency bankruptcy or liquidation of companies and no release settlement discharge or arrangement which may have been given or made on the faith of such assurance security or payment shall prejudice or affect your right to recover from the undersigned to the full extent of this guarantee as if such assurance security payment release settlement discharge or arrangement (as the case may be) had never been granted given or made; any such release settlement discharge or arrangement shall as between you and the undersigned be deemed to have been given or made upon the express condition that it shall become and the wholly void and no effect if the dGfianied tauciycn payticarom de Cait ofiw bbls irwad usadeten' gvii‘ahall ot any time thereafter be avoided under any enactment relating to insolvency bankruptcy or liquidation of companies to the intent and so that you shall hecome and be entitled at anv time after anv such avoidance to exercise all or any of the rights in this Guarantee expressly conferred upon you and/or all or any other rights which by virtue and as a consequence of this Guarantee you would have been entitled to exercise but for such release settlement discharge or “eee tinaaE ee EG Jove wie undersigned of the undersigned hereunder you shall be at oy at your absolute discretion to retain such security for a period of seven months after the repayment of all sums that are or may become due to you from the Principal notwithstanding any release settlement discharge or arrangement given or made by you on or as a consequence of such repayments, and if at any time within the period of six months after such repayment either insolvency proceedings shall be commenced or a bankruptcy petition shall be presented against the Piluipaiy vs a peau fo pecouuied wy a cutee Cours far a vides for ate = of the Principals or the Principal (being a Company) shall commence be wound up voluntarily you shall be at liberty and notwithstanding as before mentioned to continue to retain such security or any part thereof for and during such further period as you in your absolute discretion shall determine and we agree that such security shall be deemed to have been and to have remained held by you and by way of security for the payment to you of all or any sums which shall or may become due and owing to you trom and by the undersigned under and by virtue of the terms and conditions of this Guarantee in the event of and upon or after any avoidance of any assurance security or scpaynmaid uindes any uacinn satiny iv luslvcuey Daudeupiny ve Igual of companies. In the event of an Order being under any enactment from time to time in force relating to insolvency bankruptcy of liquidation of companies then, unless you in your absolute discretion shall otherwise determine, any such (other than any sum for or representing costs) which shall be paid to you by the undersigned with the object of complying with the requirements of such Order or which §pon a realization of any security deposited with you by the undersigned shall be retained and applied by you in or towards the payment discharge of any sum, (other than costs) payable to you by the undersigned pursuant to any such HestinAS a separate and independent stipulation the undersigned agree that all sums of Toney which may not be recoverable from the undersigned weer we on the footing of a oy seanuns ul aay haga lauinatavns Siadliny un Snguitiny uw un the Principals or any other fact or circumstance and whether known to you or not shall nevertheless be recoverable from the undersigned as sole or Principal debtor(s) in respect thereof and shall be repaid by the undersigned on demand in writing made by you or on your behalf. ‘This Guarantee shall continue to bind the undersigned notwithstanding any amalgamation that may be effected by you with any other company or person whether the new company thus formed shall or shall not differ in its name objects character and constitution from you the above named lender it being the intent that this Guarantee shall remain valid and effectual in all respects and for all purposes in tavour of and with reterence to any such new company had been expressly named in and referred to hercin instead of you. as de arc-uf dhe decile sCany ofthe uadcsigu aay Seanad anid un gies aforesaid and addressed to him shall for all purposes of this Guarantee be deemed as sufficient demand by you upon him and his executors or administrators and shall he as effectual as if he were still living and shall bind all the other surviving principals. u Hein24, 25. Throughout this is Gi one oe one wherever the content admits, the singular shall ae and vice versa, the expression “the undersigned” shall mean le ev “SY Person liable hereunder (including all partners in a firm) o any on es (ah a his/theie executors and administrators and (in iver or other person lawfully acting on behalf of €very such person but no personal liability shall attach to any authonsed agent OF attomey signing as such, the expression “person” shall mean and include a company, society, corporation, firm or an individual, and in the case of an lunlividual in Laruivis adiuiudsindivis cnumuliine salva ur vibes prove lawfully acting on behalf of every such person and the expression “this Guarantee” shall be construed as including and extending to any separate or independent stipulation or agreement hereinbefore contained. Any reference herein to any section in any statute shall be deemed to include reference to any statutory modification or re-enactment thereof for the time being in force. ‘The paper upon which this Guarantee is printed is, and at all times shall remain, your property.i NKHOMA Kavi, J MMWINGU, Locago AN, Gel Executed by AME(S) AND ADDRESS(Eg) Ni F GUARANTOR(S) o 'Y Us this 19"June, 2023, SIGNaTURE() OF GUARANTOR@) LURING , LOCATION, C4HQ C. KAM PANEBA