What parties are involved in the agreement outlined in the Best Brains Schedule 2 Lease Rider?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
WHEREAS, the Franchisee and/or the Franchisee's principals have executed a franchise agreement (the "Franchise Agreement") with Best Brains, Inc., an Illinois corporation (the "Franchisor"), for the operation of a Best Brains business at the Premises, and as a requirement thereof, the Lease for the Premises must include the provisions contained in this Rider; and
WHEREAS, Landlord, Franchisor and the Franchisee agree that the terms contained herein shall supersede any terms to the contrary set forth in the Lease;
NOW THEREFORE, in consideration of mutual covenants set forth herein, the execution and delivery of the Lease, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord, Franchisor and the Franchisee hereby agree as follows:
Source: Item 23 — RECEIPTS (FDD pages 42–190)
What This Means (2025 FDD)
According to the 2025 Best Brains Franchise Disclosure Document, the Schedule 2 Lease Rider involves three primary parties: the Landlord, the Franchisor (Best Brains, Inc.), and the Franchisee. This rider is designed to ensure that the lease agreement for the premises where the Best Brains center will operate includes specific provisions that protect the interests of both Best Brains and the franchisee. The rider essentially modifies the standard lease to accommodate the franchise relationship.
The Lease Rider outlines the rights, responsibilities, and obligations of each party. For instance, the landlord agrees to provide Best Brains with copies of any default notices sent to the franchisee and allows Best Brains the option to cure any breaches of the lease. The franchisee consents to these arrangements as part of their franchise agreement with Best Brains. This setup ensures that Best Brains has some control over the lease and can intervene to protect its brand and the franchisee's business.
Best Brains is also identified as a third-party beneficiary of the lease, which means it has the right to enforce certain provisions of the lease that benefit it. This is a common practice in franchising to safeguard the franchisor's interests in maintaining brand standards and operational consistency. The Lease Rider also stipulates that any modifications or renewals of the lease are subject to Best Brains' approval, further solidifying its oversight role. The execution of the Lease Rider by all three parties signifies their agreement to these terms, making it a legally binding document that governs the lease relationship within the context of the Best Brains franchise.