What is the role of Exhibit 4 in the Closet Storage Concepts franchise agreement?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
The exact address of Franchisee's Closet & Storage Concepts businessis set forth on Exhibit 1 and Exhibit 4 of this Agreement (said address is hereinafter referred to as the "Approved Location").
If the Approved Location is not identified in Exhibit 1 and Exhibit 4 when the parties execute this Agreement, Franchisee shall find a location and submit it to Franchisor for approval as required in Section 1.3.
- 1.3 Site Search; Purchase or Lease of Premises. Within one hundred and twenty (120) days after Franchisor's execution of this Agreement, Franchisee shall execute a Business Location Agreement in the form attached hereto as Exhibit 4.
The parties may extend the 120 day period for an additional 120 days provided Franchisee diligently complied with the obligations of this Section 1.3.
Prior to acquiring by lease or purchase a site for the Franchised Business, Franchisee with Franchisor's assistance (as described in Section 4.2 of this Agreement) shall locate a
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2025 FDD)
According to Closet Storage Concepts' 2025 Franchise Disclosure Document, Exhibit 4 is a Business Location Agreement. The exact address of the Closet Storage Concepts business is detailed in both Exhibit 1 and Exhibit 4 of the franchise agreement.
If the approved location is not identified in Exhibits 1 and 4 when the agreement is executed, the franchisee is responsible for finding a location and submitting it to Closet Storage Concepts for approval. The franchisee has 120 days after the execution of the agreement to execute the Business Location Agreement (Exhibit 4).
An extension of an additional 120 days may be granted if the franchisee has diligently complied with their obligations in finding a suitable location. Prior to leasing or purchasing a site, the franchisee, with assistance from Closet Storage Concepts, must locate a site for the franchised business.