What notices are waived by the undersigned in the Casa De Corazon Guaranty?

According to Casa De Corazon's 2025 Franchise Disclosure Document, the guarantor waives certain notices related to the Development Agreement. Specifically, the guarantor waives notice of any modification, waiver, extension, or forbearance granted by Casa De Corazon to the developer. This means that Casa De Corazon can make changes to the Development Agreement or grant leniency to the developer without informing the guarantor, and the guarantor remains liable under the Guaranty.

Additionally, the guarantor waives any and all notice of default on the part of the developer and waives the requirement that Casa De Corazon exhaust its recourse against the developer before pursuing the guarantor. This allows Casa De Corazon to immediately seek fulfillment of the guaranty without first notifying the guarantor that the developer is in default or attempting to recover from the developer directly. The guarantor also consents to any assignment of the Development Agreement by Casa De Corazon.

These waivers are significant because they place a greater responsibility and risk on the guarantor. The guarantor's obligations are not diminished or affected by any modifications, waivers, extensions, or forbearances, unless the developer's liability is directly reduced. The guarantor remains bound by the Guaranty even if the developer enters bankruptcy or reorganization. Prospective Casa De Corazon franchisees acting as guarantors should fully understand these waivers and their potential financial implications, as they could be held liable for the developer's obligations without prior notice or recourse.