Who is the entity to whom the promissory note is payable for a Bumble Roofing franchise, and where are they located?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
PROMISSORY NOTE
[$AMOUNT] Date: [DATE]
FOR VALUE RECEIVED, the undersigned maker of this Note promises to pay to the order of [ENTITY NOTEHOLDER] located at 2426 Old Brick Road, Glen Allen, Virginia 23060, the principal sum of [AMOUNT] ($AMOUNT) in the currency of the United States of America together with interest from the date of this Note at the rate of [INTEREST RATE] (INTEREST RATE%) per annum.
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- This Note constitutes part performance of a certain written Franchise Agreement(s) between maker and [ENTITY NOTEHOLDER] dated [DATE OF FRANCHISE AGREEMENT(S)] and as such, will be read and interpreted in a manner consistent with the terms of said agreement. Default under the terms of this Note will be sufficient grounds for termination or cancellation of the Franchise Agreement(s) in accordance with the terms of the Franchise Agreement(s).
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- All notices and other communications relating to this Note shall be in writing and shall be deemed given upon the first to occur of (x) deposit with the United States Postal Service or overnight courier service, properly addressed and postage prepaid; (y) transmittal by electronic communication (including email, internet or intranet websites, or facsimile properly addressed (with written acknowledgment from the intended recipient such as "return receipt requested" function, return e-mail, or other written acknowledgment); or (z) actual receipt by an employee or agent of the other party. Notices hereunder shall be sent to the following addresses, or to such other address as such party shall specify in writing:
(a) If to the Holder:
Address: 2426 Old Brick Road, Glen Allen, Virginia 23060
Attention: Controller
With a copy to: General Counsel
Source: Item 23 — RECEIPT (FDD pages 53–188)
What This Means (2025 FDD)
According to the 2025 Bumble Roofing FDD, the promissory note is payable to Bumble Roofing Franchisor, LLC, located at 2426 Old Brick Road, Glen Allen, Virginia 23060. This means that if a franchisee finances part of their franchise fee or other obligations through a promissory note, they will be making payments to this specific entity and address.
The promissory note outlines the terms of repayment, including the principal sum, interest rate, payment dates, and methods of payment. It specifies that payments should be made via preauthorized Automated Clearinghouse (ACH) transactions or another method directed by the noteholder (Bumble Roofing Franchisor, LLC). The note also details the consequences of late payments, such as late charges or the acceleration of the entire debt.
Furthermore, the promissory note is linked to the Franchise Agreement, meaning a default on the note can lead to termination of the franchise agreement. The document also specifies conditions under which the entire outstanding balance becomes immediately due, such as the sale or transfer of the franchisee's rights. Prospective franchisees should carefully review the terms of the promissory note and the Franchise Agreement to understand their obligations and the potential ramifications of non-compliance.
Finally, the FDD states that all notices regarding the promissory note should be sent to the Holder at 2426 Old Brick Road, Glen Allen, Virginia 23060, Attention: Controller, with a copy to General Counsel. This ensures that all formal communications reach the appropriate parties within Bumble Roofing Franchisor, LLC.