What is the location specified in the Secured Promissory Note for Bath Tune Up?
Bath_Tune_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
IN WITNESS WHEREOF, Obligor has caused this Note to be duly executed and delivered in Aberdeen, South Dakota, on the date first above written.
Source: Item 23 — RECEIPTS (FDD pages 52–222)
What This Means (2025 FDD)
According to the 2025 Bath Tune Up FDD, the Secured Promissory Note indicates that the document was executed and delivered in Aberdeen, South Dakota. This means that the legal agreement was formally signed and finalized in Aberdeen, South Dakota.
For a prospective Bath Tune Up franchisee, this detail might be relevant if legal issues arise related to the promissory note. The location of execution could influence which jurisdiction's laws govern the interpretation and enforcement of the note, although the document also specifies that South Dakota law governs the note, except for usury laws, which are governed by the franchisee's state of residence.
It is important for franchisees to understand the implications of this location, especially if they reside outside of South Dakota. Consulting with a legal professional to review the Secured Promissory Note and understand its terms is advisable, ensuring they are fully aware of their obligations and rights under the agreement.