What is the title of Exhibit B to the Buona Area Development Agreement?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
iability Franchisor A Dated: Dated: ADA 2025 FRANCHISOR INITIALS - 15 - DEVELOPER INITIALS
EXHIBIT A TO THE AREA DEVELOPMENT AGREEMENT
DESCRIPTION OF DEVELOPMENT AREA
[Insert description]
FRANCHISOR: CHICAGO'S ORIGINAL ITALIAN BEEF FRANCHISING, LLC An Illinois limited liability Franchisor DEVELOPER: [ENTITY NAME] A Dated: Dated: ADA 2025 - 16 - FRANCHISOR INITIALS______ ______DEVELOPER INITIALS
EXHIBIT B TO THE AREA DEVELOPMENT AGREEMENT
DEVELOPMENT SCHEDULE
Developer is obligated under this Agreement to develop, open and operate a minimum of three (3) Buona restaurants.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, Exhibit B to the Area Development Agreement is titled "DEVELOPMENT SCHEDULE". This exhibit outlines the developer's obligations to develop, open, and operate a minimum of three Buona restaurants. The agreement specifies deadlines for signing Franchise Agreements, leases, or purchase agreements, and for commencing operations at franchisor-approved sites. This schedule is a critical component of the Area Development Agreement, setting clear expectations and timelines for the developer's expansion of the Buona brand.
Prospective area developers should pay close attention to the development schedule outlined in Exhibit B. Failing to meet these deadlines could result in a breach of the Area Development Agreement and potential loss of development rights. The exhibit also highlights the importance of securing suitable locations and executing Franchise Agreements in a timely manner.
Understanding the development schedule is essential for any potential Buona area developer to ensure they have the resources and capabilities to meet the franchisor's expectations. The developer's initials are required on the document, indicating their acknowledgement and agreement to the terms outlined in the Development Schedule.