What agreements does the Beehive Homes Guaranty supersede?
Beehive_Homes Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS GUARANTY AND ASSUMPTION OF OBLIGATIONS UNDER FRANCHISE | ||
|---|---|---|
| AGREEMENT (the "Guaranty") is given this day of, 2025, by the undersigned: | ||
| 1. | In consideration of, and as an inducement to, the execution of the franchise agreement | |
| dated, 2025 (referred to in this Guaranty, together with all applicable | ||
| amendments, renewals, addenda, supplemental agreements and assignments, as the "Franchise | ||
| Agreement") by and among BEE HIVE HOMES, INC. (the "Franchisor") and the parties | ||
| identified therein as the Franchisee (the "Franchisee"), and for other good and valuable | ||
| consideration, each of the undersigned, jointly and severally, for themselves, their heirs, legal | ||
| representatives, successors and assigns (hereinafter referred to individually | and collectively as | |
| "Guarantor" whether one or more) personally, unconditionally | and irrevocably guarantees to | |
| Franchisor, and its successors and assigns, (a) the full and prompt payment of all sums owed by | ||
| Franchisee to Franchisor and its Affiliates under the Franchise Agreement and otherwise relating | ||
| to the Home, including, but not limited to, all fees and charges, interest, default interest, all other | ||
| costs and fees and attorneys' fees incurred in connection with enforcement of the Franchise | ||
| Agreement; and (b) the performance of all other obligations of Franchisee arising under the | ||
| Franchise Agreement (collectively, the "Obligations"). This Guaranty | is primary to Guarantor | |
| and Guarantor will immediately, upon request of Franchisor, make payment in full of all amounts | ||
| due and owing to Franchisor and its Affiliates under the Franchise Agreement, and perform each | ||
| and every Obligation to Franchisor and its Affiliates under the Franchise Agreement. | ||
Source: Item 23 — RECEIPTS (FDD pages 34–123)
What This Means (2025 FDD)
According to Beehive Homes' 2025 Franchise Disclosure Document, the Guaranty and Assumption of Obligations under the Franchise Agreement, referred to as "the Guaranty," is executed on a specific day in 2025. This Guaranty is provided by the undersigned as an inducement for the execution of the franchise agreement, also dated in 2025. The franchise agreement includes all applicable amendments, renewals, addenda, supplemental agreements, and assignments.
The Guarantor (which may be one or more individuals) personally, unconditionally, and irrevocably guarantees to Beehive Homes the full and prompt payment of all sums owed by the Franchisee to Beehive Homes and its affiliates under the Franchise Agreement. This includes all fees and charges, interest, default interest, costs, and attorneys' fees related to enforcing the Franchise Agreement. The Guarantor also guarantees the performance of all other obligations of the Franchisee arising under the Franchise Agreement, collectively referred to as the "Obligations."
This Guaranty is primary to the Guarantor, meaning that upon Beehive Homes' request, the Guarantor must immediately pay all amounts due and owing to Beehive Homes and its affiliates under the Franchise Agreement and fulfill every Obligation to Beehive Homes and its affiliates. In essence, the Guaranty ensures that Beehive Homes receives all payments and performance required under the Franchise Agreement, with the Guarantor acting as a direct and primary source of fulfillment.