What is the document described as 'Guaranty' in the Beehive Homes FDD?
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 a document titled "GUARANTY AND ASSUMPTION OF OBLIGATIONS UNDER FRANCHISE AGREEMENT." This document is dated in 2025 and is provided by the undersigned to Bee Hive Homes, Inc., the Franchisor. The Guaranty is made in consideration of the execution of the franchise agreement between Bee Hive Homes, Inc. and the Franchisee.
Under the Guaranty, 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. This includes all fees and charges, interest, default interest, costs, and attorneys' fees related to the Home, as well as the performance of all other obligations of the Franchisee under the Franchise Agreement. The Guaranty specifies that it is primary to the Guarantor, meaning the Guarantor is immediately responsible for payments and obligations upon Beehive Homes' request.
In essence, the Guaranty ensures that if the franchisee fails to meet their financial or operational obligations under the Franchise Agreement, the guarantor(s) will be held responsible for fulfilling those obligations. This provides Beehive Homes with an additional layer of security and recourse in case of franchisee default. Prospective franchisees should carefully review the Guaranty document and understand the full extent of their obligations and potential liabilities before signing the Franchise Agreement.