What date and location must the Notary Public include when acknowledging the Collateral Assignment of Lease for an Aw franchise?
Aw Franchise · 2025 FDDAnswer from 2025 FDD Document
| STATE OF | |
|---|---|
| ) | |
| ) SS. | |
| COUNTY OF | |
| ) | This Collateral Assignment of Lease was acknowledged before me by , President of, a, on behalf of the IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal at,, this day of, 20 |
Source: Item 22 — CONTRACTS (FDD pages 39–40)
What This Means (2025 FDD)
According to Aw's 2025 Franchise Disclosure Document, the Notary Public must include the city, state, and date when acknowledging the Collateral Assignment of Lease. The document provides a template for the acknowledgment, which includes spaces for the Notary Public to set their hand and official seal at a specific location and date.
Specifically, the template includes the phrases "at [CITY], [STATE]" and "this [DAY] day of [MONTH], 20[YEAR]" for the notary to complete. This information is essential to verify the authenticity and legality of the document. The acknowledgment confirms that the President of the specified entity, acting on behalf of the company, has signed the Collateral Assignment of Lease.
For a prospective Aw franchisee, this means ensuring that when the Collateral Assignment of Lease is notarized, the notary public accurately records the date and location of the notarization. This step is crucial for the legal validity of the assignment, which protects Aw's interest in the lease should the franchisee default. Failing to properly notarize the document could lead to legal complications and potential disputes in the future.