Under the Beehive Homes Guaranty, what does the term 'Home' refer to in the context of sums owed?
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 requires guarantors to ensure the franchisee's financial and operational obligations to Beehive Homes are met. The term 'Home' in this context refers to the Beehive Homes facility itself. This is relevant because the guarantor's obligations extend to all sums owed relating to the Home.
Specifically, the guarantor is responsible for the full and prompt payment of all amounts owed by the franchisee to Beehive Homes and its affiliates under the Franchise Agreement. This includes, but is not limited to, all fees and charges, interest, default interest, all other costs and fees, and attorneys' fees incurred in connection with the enforcement of the Franchise Agreement. The guarantor must make these payments immediately upon request from Beehive Homes.
Furthermore, the guarantor's obligations extend to the performance of all other duties of the franchisee arising under the Franchise Agreement. This means the guarantor is not only responsible for financial obligations but also for ensuring the Beehive Homes facility operates according to the standards and requirements set forth in the Franchise Agreement. This obligation is primary to the guarantor.
Additionally, each Guarantor with a direct or indirect ownership interest in the Location and Home hereby consents to the Franchisor or its designee recording with respect to the Location and Home a notice of its interest pursuant to the Franchise Agreement and this Guaranty in the office of the County Recorder in and for the County in which the Location and Home are sited.