Who is bound by the Beehive Homes Guaranty?
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 is given by the undersigned, jointly and severally, for themselves, their heirs, legal representatives, successors, and assigns. These individuals are referred to individually and collectively as "Guarantor." The Guarantor 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, all other costs and fees, and attorneys' fees incurred in connection with enforcement of the Franchise Agreement.
Furthermore, the Guarantor is bound to the performance of all other obligations of the Franchisee arising under the Franchise Agreement. The Guaranty is primary to the Guarantor, meaning the Guarantor will immediately, upon request of Beehive Homes, make full payment of all amounts due and owing and perform every obligation under the Franchise Agreement.
In simpler terms, the Guarantor is essentially promising to cover all financial and performance-related responsibilities of the franchisee. This ensures that Beehive Homes has recourse to another party should the franchisee fail to meet their obligations. This is a significant commitment, as the Guarantor's personal assets and estate could be at risk if the franchisee defaults.