For Caring Senior Service, what is the required method for amending or revising the loan documents?
Caring_Senior_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
The provisions of this note and the loan documents may be amended or revised only by an instrument in writing signed by maker and payee. This note and all the other loan documents embody the final, entire agreement of maker and payee and supersede any and all prior commitments, agreements, representations, and understandings, whether written or oral, relating to the subject matter hereof and thereof and may not be contradicted or varied by evidence of prior, contemporaneous, or subsequent oral agreements or discussions of maker and payee.
Source: Item 23 — RECEIPTS (FDD pages 53–204)
What This Means (2025 FDD)
According to the 2025 FDD, any amendments or revisions to the loan documents related to a Caring Senior Service franchise must be made through a written instrument. This instrument must be signed by both the maker and the payee of the loan.
This requirement ensures that all changes to the loan agreement are formally documented and agreed upon by all parties involved, preventing potential misunderstandings or disputes. It also ensures that any modifications are legally binding and enforceable.
This type of clause is standard in loan agreements to protect both the lender and the borrower by providing a clear record of any changes made to the original terms. Prospective Caring Senior Service franchisees should carefully review all loan documents and understand this amendment process before signing any agreements.