What amount is due in the final installment for the Aerus Secured Promissory Note?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
| Principal and accrued interest on this Note, computed as aforesaid, shall be due and payable | as follows: | (i) in equal monthly installments, each in the amount of | Dollars ($), commencing on, and continuing thereafter on | the first (1st) day of each succeeding calendar month, and (ii) in one final installment on | , 20, in the amount of the unpaid principal balance and accrued and unpaid | interest on this Note as of (and including) such date.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, the final installment on the Secured Promissory Note includes the unpaid principal balance and any accrued and unpaid interest. The note outlines a payment schedule consisting of equal monthly installments and a final payment.
Specifically, the franchisee (Maker) is obligated to make equal monthly payments, the amount of which is to be specified in dollars, starting on the first day of the month following the note's execution. The final installment, due on a specified date in 20--, will cover the remaining unpaid principal and any accrued interest up to that date. The exact dollar amounts for the monthly installments and the final payment are determined by the specific terms of the promissory note executed between Aerus Franchising, LLC (Payee) and the franchisee.
Prospective franchisees should carefully review the terms of the Secured Promissory Note within their Franchise Agreement to understand the precise amounts and dates for all payments, including the final installment. Understanding these terms is crucial for managing their financial obligations to Aerus.