What form is used for the personal guaranty of the Chocolate Fish Coffee franchisee's obligations?

According to Chocolate Fish Coffee's 2024 Franchise Disclosure Document, if the franchisee is an entity, each owner must sign a personal guaranty of the franchisee's obligations to Chocolate Fish Coffee. This guaranty must be in the form of Attachment 3 to the Franchise Agreement. This means that the owners are personally liable for the financial and operational obligations of the franchise entity.

The guarantor unconditionally guarantees that the franchisee will pay and perform every undertaking, agreement, and covenant in the Franchise Agreement. The guarantor also guarantees every other liability and obligation of the franchisee to Chocolate Fish Coffee, whether or not it's in the Franchise Agreement. The guarantor must make any payment or performance required under the Franchise Agreement or any other agreement between the franchisee and Chocolate Fish Coffee upon demand from Chocolate Fish Coffee.

The guarantor waives several rights, including the right to require Chocolate Fish Coffee to take action against the franchisee before demanding payment from the guarantor. This means Chocolate Fish Coffee can pursue the guarantor directly without first exhausting all options with the franchisee. The guaranty is governed by Wyoming law, and the dispute resolution provisions of the Franchise Agreement also apply to the guaranty. The guarantor also agrees to not compete with Chocolate Fish Coffee during the term of the Franchise Agreement and for a period following termination, within a specified territory.