GUARANTY OF MIT AMBULATORY CARE CENTER, INC.

GUARANTY OF MIT AMBULATORY CARE CENTER, INC.

THIS GUARANTY (this “Guaranty”) dated Ju1y 29, 2008 is made by MIT Ambulatory Care Center, Inc. (the “Guarantor”), a Georgia corporation, in favor of Globank Corp. (the “Lender”), a Nevada corporation.
WHEREAS , Lender has agreed to make a loan in the principal amount of $500,000.00 to MIT Holding, Inc. (the “Borrower”) as provided in the promissory note between Lender and Borrower dated the date hereof (the “Promissory Note”); and
WHEREAS , Lender has requested that Guarantor guarantee Borrower’s obligations under the Promissory Note.
Accordingly the Guarantor agrees as follows:
SECTION 1. GUARANTY .
1.1 The Guaranty . The Guarantor hereby guaranties the full and punctual payment and performance when due (whether at stated maturity, upon acceleration or otherwise) of all amounts payable by, and all other obligations to be performed by, the Borrower under the Promissory Note, whether now due or hereafter arising. Upon failure by the Borrower to pay punctually any such payment, or to perform punctually any such other obligations, the Guarantor shall forthwith on demand pay the amount not so paid in immediately available funds at the place specified in the Promissory Note or perform such obligations, as the case may be.
1.2 Guaranty Unconditional . The obligations of the Guarantor hereunder shall be irrevocable, unconditional and absolute without regard to:
(a) any extension, renewal, settlement, compromise, indulgence, waiver or release in respect of any obligation of the Borrower or any other party thereto under the Promissory Note;
(b) any modification or amendment of or supplement to the Promissory Note;
(c) any release, non-perfection or invalidity of any direct or indirect security for any obligation of the Borrower or any other party thereto under the Promissory Note;
(d) any change in the corporate existence, structure or ownership of, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting, the Borrower or its assets;
(e) any invalidity or unenforceability (for any reason) relating to or against the Borrower or any provision of applicable law or regulation purporting to prohibit the payment by the Borrower of (or to reduce or otherwise limit the obligation of the Borrower to pay) any amount payable by the Borrower under the Promissory Note; or    

 
(f) any exercise or failure to exercise by the Lender of any other rights or remedies it may have under the Promissory Note or the exercise by the Lender of its rights and remedies in any manner or order.
1.3 Discharge Upon Payment in Full : Reinstatement in Certain Circumstances. The Guarantor’s obligations hereunder shall remain in full force and effect until the amounts payable by the Borrower under the Promissory Note shall have been paid in full. If at any time any amount payable by the Borrower under the Promissory Note is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Guarantor’s obligations hereunder with respect to such payment shall be reinstated at such time as though