How does the Beehive Homes Guaranty relate to any supplemental agreements to the Franchise Agreement?
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 the 2025 Beehive Homes Franchise Disclosure Document, the Guaranty extends to all aspects of the Franchise Agreement, including any supplemental agreements. The Guaranty ensures that the guarantor is responsible for the franchisee's obligations under the Franchise Agreement, which encompasses all amendments, renewals, addenda, supplemental agreements, and assignments. This means that if the franchisee fails to meet their financial or performance obligations as outlined in the Franchise Agreement or any of its supplemental documents, the guarantor is liable for fulfilling those obligations.
The Guaranty covers the full and prompt payment of all sums owed by the franchisee to Beehive Homes and its affiliates. This includes all fees and charges, interest, default interest, and any legal costs associated with enforcing the Franchise Agreement. Furthermore, the Guaranty extends to the performance of all other obligations of the franchisee under the Franchise Agreement. This ensures that Beehive Homes has recourse to the guarantor for any failure by the franchisee to adhere to the terms of the agreement, regardless of whether those terms are in the original agreement or added through supplemental agreements.
In practical terms, this means that a prospective Beehive Homes franchisee should ensure that anyone acting as a guarantor fully understands the scope of the Franchise Agreement and all potential supplemental agreements. The guarantor's liability is not limited to the initial terms of the agreement but extends to any changes or additions made throughout the term of the franchise. This comprehensive coverage protects Beehive Homes by ensuring that there is always a party responsible for the franchisee's obligations, even if the franchisee's circumstances change or the agreement is modified.