How does a Big O Tires tenant pay the base rent?
Big_O_Tires Franchise · 2025 FDDAnswer from 2025 FDD Document
or at the election of Landlord, at the offices of Big O Tires, LLC, Lease Administration, 4260 Design Center Drive, Palm Beach Gardens, Florida 33410, or at such other place as the Landlord hereof may designate from time to time in writing. Such Base Rent shall be subject to increase in accordance with all rent adjustment and escalation provisions set forth in this Lease. If any month during the term of this Lease shall be less than a complete month, such Base Rent shall be prorated on a thirty (30) day month basis. Contemporaneously with Tenant's execution and delivery to Landlord of this Lease, Tenant shall execute and deliver to Landlord the Authorization Agreement for Preauthorized Payment Service in the form attached hereto as Exhibit "E". Tenant's shareholders, members, partners, officers, directors, as the case may be, and their spouses, as required by Landlord, shall execute the guaranty attached hereto as Exhibit "F".
Source: Item 23 — RECEIPTS (FDD pages 102–535)
What This Means (2025 FDD)
According to the 2025 Big O Tires FDD, the tenant must execute and deliver an Authorization Agreement for Preauthorized Payment Service to the landlord when delivering the lease. This agreement, attached as Exhibit "E", allows for preauthorized payments. The base rent is subject to increases based on rent adjustment and escalation provisions outlined in the lease.
The base rent can be paid at the landlord's election, at the offices of Big O Tires, LLC, Lease Administration, located at 4260 Design Center Drive, Palm Beach Gardens, Florida 33410, or at another location designated by the Landlord in writing. If any month is less than a complete month, the base rent will be prorated based on a thirty-day month.
Furthermore, the FDD states that the tenant's shareholders, members, partners, officers, directors, and their spouses, as required by the landlord, must execute the guaranty attached as Exhibit "F". This guaranty ensures that the landlord has additional security for the lease obligations.