How can the terms of the Bumble Roofing note be waived, modified, or amended?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
No term of this Note may be waived, modified, or amended, except by an instrument in writing signed by the maker and the holder.
Any waiver of the terms hereof shall be effective only in the specific instance and for the specific purpose given.
Source: Item 23 — RECEIPT (FDD pages 53–188)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the terms of the promissory note can only be waived, modified, or amended through a written instrument. This written agreement must be signed by both the maker (the franchisee) and the holder (Bumble Roofing Franchisor, LLC).
This requirement ensures that any changes to the original terms are formally documented and agreed upon by all parties involved, preventing potential misunderstandings or disputes. The FDD also specifies that any waiver of terms is only effective in the specific instance and for the specific purpose given, meaning a one-time waiver does not permanently alter the original agreement.
This clause is typical in franchise agreements and promissory notes to protect both the franchisor and franchisee. It provides a clear process for making changes while maintaining the integrity of the original contract. Prospective Bumble Roofing franchisees should understand that verbal agreements or informal communications will not be sufficient to alter the terms of the note; any changes must be formalized in writing and properly executed.