How must payments be made to Caring Senior Service for this note?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
The Partnership received a $200,000 loan from an entity owned and operated by a partner of the Partnership on August 16, 2023. Terms include 240 monthly payments of $1,208 beginning June 1, 2024. The note bears interest at 4% and is unsecured. The loan has a balance of $196,130 as of December 31, 2024.
If to Payee, to:
Caring Senior Service Franchise Partnership L.P. Attn: Ian Klaes, Vice President 201 East Park Avenue, #201 San Antonio, Texas 78212
Any notice that may be given by either Maker or Payee shall be in writing and shall be deemed given upon the earlier of the time of receipt thereof by the person entitled to receive such notice, or if mailed by registered or certified mail or with a recognized overnight mail courier upon two (2) days after deposit with the United States Post Office or one (1) day after deposit with such overnight mail courier, if postage is prepaid and mailing is addressed to Maker or Payee, as the case may be, at the following addresses, or to a different address previously given in a written notice to the other party:
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to Caring Senior Service's 2025 Franchise Disclosure Document, the Partnership received a $200,000 loan from an entity owned and operated by a partner of the Partnership on August 16, 2023. The terms of the note include 240 monthly payments of $1,208, which began on June 1, 2024. The note bears interest at 4% and is unsecured. As of December 31, 2024, the loan balance was $196,130.
Regarding notices, any notice given by either the Maker or Payee must be in writing. The notice is considered given upon receipt by the intended recipient. If mailed by registered or certified mail, or with a recognized overnight mail courier, it is considered given two days after deposit with the United States Post Office or one day after deposit with the overnight mail courier, provided postage is prepaid and the mailing is addressed correctly.
The address for notices to Caring Senior Service Franchise Partnership L.P., as Payee, should be sent to the attention of Ian Klaes, Vice President, at 201 East Park Avenue, #201, San Antonio, Texas 78212. The document does not specify the exact method of payment that must be used to pay Caring Senior Service.