Does the Bumble Roofing promissory note allow for extensions of time of payment?

According to Bumble Roofing's 2025 Franchise Disclosure Document, the promissory note does allow for extensions of time for payment. Specifically, the makers and endorsers of the note agree to any extension of time of payment before, at, or after maturity. This means that Bumble Roofing, at its discretion, can offer franchisees more time to make payments on the note.

This clause provides Bumble Roofing with flexibility in managing franchisee debt. It also benefits the franchisee by providing a potential safety net if they encounter financial difficulties. However, it's important to note that Bumble Roofing is not obligated to grant an extension; the decision is entirely at their discretion.

It is typical in franchising for promissory notes to include clauses that allow for extensions, as this can help maintain a positive relationship between the franchisor and franchisee during challenging times. However, prospective franchisees should carefully review the terms of the promissory note and franchise agreement to fully understand their obligations and the conditions under which extensions may be granted.