Does the Schedule of Fixtures Collateral for Aerus include guaranties related to the fixtures?

According to the 2025 Aerus Franchise Disclosure Document, the Schedule of Fixtures Collateral includes guaranties related to the fixtures. Specifically, the collateral includes all present and future rights, titles, and interests in all fixtures now owned or acquired in the future. This extends to all attachments, renewals, replacements, additions, accessories, accessions, increases, parts, and substitutes.

In addition to the physical components and replacements, the collateral also encompasses proceeds from the above-mentioned items. Importantly, it explicitly includes all guaranties, claims, rights, remedies, and privileges relating to any of the foregoing. This means that any guarantees associated with the fixtures themselves are part of the collateral that Aerus has a security interest in.

For a prospective Aerus franchisee, this means that if they default on their obligations, Aerus's security interest extends not only to the fixtures but also to any guarantees or warranties associated with those fixtures. This could have implications for the franchisee's ability to claim under those guarantees if Aerus has taken possession of the fixtures as collateral.