Web Warrior, LLC was started as a one-person company in the business of designing websites with a reputation for cutting-edge work. Stafford, the sole owner, embarked on an aggressive expansion plan. To finance the expansion, Stafford borrowed $50,000 from his wealthy Uncle Rich and signed a promissory note. He also took out a loan from Local Bank for a $25,000 line of credit for the LLC, which was secured by assets of the business and a personal guaranty by Stafford. Finally, Stafford purchased a piece of real estate for Web Warrior, LLC's headquarters and secured it through a mortgage via Big Time Lender. In order to obtain the mortgage, Big Time Lender required Stafford's wealthy Aunt Petunia to cosign the loan as a surety.

If Web Warrior, LLC defaults on the loan, what is Uncle Rich's remedy? I. He can bring lawsuit against Web Warrior, LLC and attempt to collect the judgment from the company's assets. Il. He can bring a lawsuit against Stafford personally and attempt to collect the judgment from Stafford's personal assets. Ill. He can foreclose on the collateral and take the pledged assets of the business without going to court. IV. He can bring a lawsuit against Petunia personally and attempt to collect the judgment from Stafford's personal assets. V. He can foreclose on the building and sell it to pay for the debt