Ally Bank 2011 Annual Report Download - page 365

liability of the Guarantor hereunder: (i) extend, renew, modify, compromise, settle, or release any or all of the Obligations; (ii) release or compromise any
liability of any party or parties with respect to the Obligations; (iii) release any security interest in any collateral securing any of the Obligations, or
exchange, surrender, or otherwise deal with such collateral as Freddie Mac may determine; or (iv) exercise or refrain from exercising any right or remedy of
Freddie Mac.
SECTION 12. No Third Party Beneficiary. The Guarantor and Freddie Mac do not intend the benefits of this Guaranty to inure to the benefit of any third
party, and notwithstanding any term, condition or provision hereof or in any of the applicable Purchase Documents, no third party, including (without
limitation) any Seller/Servicer, shall have any right or entitlement under this Guaranty.
SECTION 13. Governing Law. This Guaranty shall be governed by, and construed in accordance with, the governing laws under the Purchase Documents,
as provided in the Guide.
IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be executed and delivered by its duly authorized officer.
GMAC Inc.
By:(Signature)
(Typed Name and Title)
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