What is the document called that modifies certain provisions of the Benjamin Franklin Plumbing Franchise Agreement?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
nstrued in accordance with the laws of the State of Maryland. Sole and proper venue for any action shall be in the state and federal courts in Maryland.
- E. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties hereto.
| By: |
|---|
DEBTOR:
Its:
EXHIBIT A TO SECURITY AGREEMENT
Premises: [Approved Location Address]
EXHIBIT C RENEWAL ADDENDUM
RENEWAL ADDENDUM TO THE BENJAMIN FRANKLIN PLUMBING FRANCHISE AGREEMENT
| THIS RENEWAL ADDENDUM ("Addendum") to the BENJAMIN FRANKLIN PLUMBING |
|---|
| Franchise Agreement dated as of |
| ("Franchise |
| Agreement") |
| by |
| and |
| between Benjamin Franklin |
| Franchising SPE LLC, |
| a Delaware |
| limited liability company |
| ("Franchisor"), |
| , a [state/entity type] ("Franchisee"), and |
| ([collectively,] "Guarantor"), is entered into simultaneously with the Franchise Agreement. |
| RECITALS |
| A. |
| Franchisor and Franchisee are parties to |
| one or more |
| BENJAMIN FRANKLIN |
| PLUMBING |
| franchise agreements |
| dated |
| ([collectively,] |
| "Prior |
| Agreement") |
| under |
| which Franchisor granted Franchisee the right to operate the Franchised Business at the Approved Location. |
| The term of the Prior Agreement has expired or will expire soon. |
| B. |
| Franchisor and Franchisee are executing the Franchise Agreement to renew the rights |
| granted to Franchisee under the Prior Agreement. |
| C. |
| The individual(s) identified above as "Guarantor" are guarantying |
| Franchisee's obligations |
| under the Franchise Agreement (the "Guaranty"). |
| D. |
| The parties desire to modify certain provisions of the Franchise Agreement as reflected in |
| this Addendum. |
| NOW THEREFORE, in consideration of the mutual covenants, agreements and obligations set |
| forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby |
| acknowledged, the parties, intending to be legally bound, agree as follows: |
| 1. |
| Pre-Opening Obligations Deleted. Since Franchisee has been operating the Franchised Business |
| pursuant to the Prior Agreement, the parties agree that no provisions of the Franchise Agreement that relate |
| to pre-opening obligations of either party shall be applicable. |
| Franchisee remains required to comply with |
| the conditions for renewal under the Prior Agreement. |
| 2. |
| Term. The text of Section 3 of the Franchise Agreement is deleted and replaced with the following: |
| "This Agreement will expire on the anniversary of the Agreement Date specified |
| in the Brand Appendix (the "Expiration Date"). You will not have a contractual |
| right to renew the franchise rights when the term expires. However, we may in our |
| sole discretion offer you the opportunity to enter into a new |
| franchise |
| agreement |
| with us. |
| 3. |
| Renewal Fee. |
| Simultaneously with the execution of this Addendum, Franchisee shall pay |
| Franchisor a renewal fee in the amount of, as described in the Prior Agreement. |
| 4. |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 Benjamin Franklin Plumbing Franchise Disclosure Document, an "Addendum" is used to modify certain provisions of the Benjamin Franklin Plumbing Franchise Agreement.
The Addendum is entered into simultaneously with the Franchise Agreement and is used when franchisees are renewing their agreements. The document acknowledges that the franchisee is already operating a Benjamin Franklin Plumbing franchise at an approved location and that the term of their prior agreement has either expired or will expire soon.
The Addendum modifies specific sections of the Franchise Agreement. For example, it may state that pre-opening obligations are not applicable since the franchisee is already operating the business. It may also change the terms related to the length of the agreement and renewal options. The franchisee is required to pay a renewal fee upon execution of the Addendum. The indemnification obligations from the prior agreement remain in effect even after the prior agreement expires.