Regarding the Canopy Lawn Care Note, what happens to previous agreements and understandings?

According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the Promissory Note represents the entire agreement between the maker and the holder regarding its subject matter. Specifically, the note supersedes any prior agreements or understandings, whether they were communicated orally or in writing. This means that once the Promissory Note is in effect, any previous discussions, promises, or documents related to the note's subject are no longer valid or enforceable.

This clause provides clarity and legal certainty for both Canopy Lawn Care and the franchisee. It ensures that all relevant terms and conditions are consolidated into a single document, minimizing the risk of disputes arising from conflicting or ambiguous prior agreements. Franchisees should carefully review the Promissory Note to ensure that it accurately reflects their understanding of the agreement, as it will take precedence over any previous discussions or documents.

It is also important to note that the terms of the Promissory Note can only be waived, modified, or amended through a written instrument signed by both the maker and the holder. This requirement further protects both parties by preventing informal or unintentional changes to the agreement. Any waiver of terms is effective only in the specific instance and for the specific purpose given, preventing a single waiver from affecting the overall enforceability of the note.

This clause is a standard provision in many legal agreements, including franchise agreements, to ensure clarity and prevent disputes. Prospective Canopy Lawn Care franchisees should be aware of this clause and ensure that all their understandings are accurately reflected in the final Promissory Note before signing.