What is Exhibit C in the Carbones Pizzeria Franchise Agreement?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
ear from the date of this Agreement. However, Franchisee may not commence operation of the Restaurant until Franchisee has satisfied all conditions set forth in this Agreement required to be satisfied by Franchisee prior to opening. If Franchisee fails to timely open the Restaurant, Franchisor may terminate this Agreement and retain all amounts Franchisee has paid to Franchisor or its affiliates.
- c. At the time this Agreement is executed by Franchisee, Franchisee shall complete the Statement of Ownership and Management attached hereto as Exhibit B, and, if Franchisee is a corporation, partnership, or limited liability company, each owner as of
the date hereof along with their spouse, as well as any future owners and their spouses, must sign Franchisor's then-current Guaranty at the time such individual becomes an owner of Franchisee
Source: Item 23 — RECEIPTS (FDD pages 30–116)
What This Means (2025 FDD)
According to the 2025 Carbones Pizzeria Franchise Disclosure Document, Exhibit C to the Franchise Agreement is the current form of the Guaranty. This document must be signed by each owner of the franchise at the time the agreement is executed, along with their spouse.
If the franchisee is a corporation, partnership, or limited liability company, any future owners and their spouses must also sign the Guaranty at the time they become an owner. The franchisee is responsible for immediately notifying Carbones Pizzeria of any changes to the information provided in the Statement of Ownership and Management, and must provide updated statements upon request.
The requirement for owners and their spouses to sign a Guaranty is a common practice in franchising. This ensures that Carbones Pizzeria has recourse to the personal assets of the owners should the franchise default on its obligations under the Franchise Agreement.