Under what conditions is a waiver of terms in the Bumble Roofing note effective?

According to Bumble Roofing's 2025 Franchise Disclosure Document, a waiver of any term within the promissory note is only effective under specific conditions.

Specifically, any waiver, modification, or amendment to the note's terms must be documented in writing. This written instrument must be signed by both the maker (the franchisee) and the holder (Bumble Roofing Franchisor, LLC). This requirement ensures that there is a clear, mutual understanding and agreement regarding any changes to the original terms of the promissory note.

Furthermore, the waiver is only applicable to the particular instance and purpose for which it is given. This means that a waiver granted in one situation does not automatically extend to other situations or future instances, even if they seem similar. Each waiver must be evaluated and documented separately to be effective. This protects Bumble Roofing from unintended consequences or broad interpretations of waivers.

This level of specificity and documentation is typical in financial agreements to avoid disputes and ensure clarity for all parties involved. A prospective Bumble Roofing franchisee should pay close attention to these requirements to ensure that any agreed-upon changes to the promissory note are properly documented and legally binding.