According to the 2025 Benjamin Franklin Plumbing FDD, Exhibit A of the security agreement describes the physical premises of the franchised business. Specifically, it refers to the approved location address where the Benjamin Franklin Plumbing business operates. This exhibit is used in conjunction with the security agreement, which outlines the collateral the franchisee provides to secure their obligations, such as payments under a promissory note related to the franchise fee.

For a prospective Benjamin Franklin Plumbing franchisee, this means that the actual location of their business is a defined and important aspect of the security agreement. The franchisee's personal property situated at, used in connection with, or deriving from the Benjamin Franklin Plumbing franchised business at the premises described in Exhibit A is part of the collateral. This includes all present and after-acquired goods, accounts, documents, instruments, money, deposit accounts, chattel paper, inventory, equipment, supporting obligations, investment property, letter of credit rights, and general intangibles.

Therefore, it is crucial for a potential Benjamin Franklin Plumbing franchisee to understand the implications of the security agreement and how Exhibit A defines the scope of the collateral. This ensures clarity regarding the assets that are subject to the security interest granted to Benjamin Franklin Franchising SPE LLC. The franchisee should carefully review the approved location address listed in Exhibit A to confirm its accuracy and understand its role in securing their financial obligations to the franchisor.