Who is the borrower for the Promissory Note associated with Beverly Anns Cookie?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
EXHIBIT H-6
BEVERLY ANN'S COFFEE FRANCHISE
PROMISSORY NOTE - EAGLE FINANCIAL SERVICES, INC.
EAGLE FINANCIAL SERVICES, INC. CONSENT AND NOTICE REGARDING ELECTRONIC COMMUNICATIONS
Electronic Signature Agreement.
By selecting the "I Accept" button, you are signing this Agreement electronically.
You agree your electronic signature is the legal equivalent of your manual signature on this Agreement.
By selecting "I Accept" you consent to be legally bound by this Agreement's terms and conditions.
You further agree that your use of a key pad, mouse or other device to select an item, button, icon or similar act/action, or to otherwise provide, or in accessing or making any transaction regarding any agreement, acknowledgement, consent terms, disclosures or conditions constitutes your signature (hereafter referred to as "E-Signature"), acceptance and agreement as if actually signed by you in writing.
You also agree that no certification authority or other third party verification is necessary to validate your E-Signature and that the lack of such certification or third party verification will not in any way affect the enforceability of your E-Signature or any resulting contract between you and Eagle Financial Services, Inc.
You further agree that each use of your E-Signature in obtaining Eagle Financial Services, Inc's online service(s) constitutes your agreement to be bound by the terms and conditions thereof.
Consent to Electronic Delivery.
You specifically agree to receive and/or obtain any and all Eagle Financial Services, Inc. related "Electronic Communications" as defined below.
The term "Electronic Communications" includes, but is not limited to, any and all current and future notices and/or disclosures that various federal and/or state laws or regulations require that we provide to you, as well as such other documents, statements, data, records and any other communications including copies of these loan documents.
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beverly Anns Cookie Franchise Disclosure Document, Exhibit H-6 is a Promissory Note with Eagle Financial Services, Inc. The document refers to "You" (Your Franchise Entity Name), implying that the franchisee is the borrower. This means that if a Beverly Anns Cookie franchisee needs financing, they may obtain a loan from Eagle Financial Services, Inc., and the franchisee's business entity would be responsible for repaying that loan as per the terms of the promissory note.
The exhibit also includes an Electronic Signature Agreement, stating that by selecting "I Accept", the franchisee is signing the agreement electronically and consenting to be legally bound by its terms. This indicates that the promissory note and related agreements can be signed and managed electronically, which is a common practice for efficiency. The franchisee also agrees to receive all communications, including notices, disclosures, statements, and loan documents, electronically from Eagle Financial Services, Inc.
Prospective Beverly Anns Cookie franchisees should carefully review the terms of the promissory note and the Electronic Signature Agreement with legal and financial advisors to fully understand their obligations and rights. Understanding the interest rates, repayment schedules, and any associated fees is crucial before entering into a loan agreement. Additionally, franchisees should ensure they are comfortable with receiving and managing important documents electronically.