On what page of the Coffee News FDD can I find the Promissory Note?
Coffee_News Franchise · 2025 FDDAnswer from 2025 FDD Document
| 1. | REGION | including | seasonal |
|---|---|---|---|
| Franc | chises: | including | 300301101 |
| Proje | cted Coffee News Franchises = | ||
| reade | acknowledged and understood that the Coffee News Online ers outside the Territory. However, the Franchisee's public e shall be restricted to his/her/its licensed Territory and resto serve communities beyond the Territory. Franchisor shall area served by Franchisee's online version through Franchise | cation of Co | ffee News |
| Onlin | no publicatio | n shall be | |
| made | all provide a | drop down | |
| 2. | DEPOSIT PAYMENT | ||
| Depo | sit: $_,000.00 due on or about 1, 20 | ||
| 3. | RETURN OF FRANCHISES | ||
| Franc | every six months, Franchisee has the option to retuchisee's Franchise(s) if Franchisee is unable to put such Franchisee's Franchises/ licenses are not in operation but tain possession of such Franchises, Franchisee may pay the | inchises into | operation. |
| If Fra | Franchisee | desires to | |
| 4. | WEEKLY LICENSING FEES | ||
| Feb | 1/ and on $ 80.0 | 0/wk | (1 |
| CN's) | |||
Please note: Timing of the weekly licensing fees is over-generous on purpose- to allow Franchisee more than enough time to get the entire region in operation well before Franchisee reaches his/her maximum licensing fees.
Also, if Franchisees are able to put more Coffee News publications in operation than Franchisee's licensing fees expect, that is to Franchisee's benefit only. Franchisee's licensing fees do not increase. In the event that Franchisee decides to sell Franchisee's Franchises / licenses, the new buyer will pay to Franchisor a trans
Source: Item 23 — Receipts (FDD pages 36–118)
What This Means (2025 FDD)
According to the 2025 Coffee News FDD, Schedule B, which includes the Promissory Note, can be found on page 58. The document references the Debtor, who is the franchisee, agreeing to grant the Holder, Coffee News USA, Inc., the licensed rights to the territory granted in the Coffee News Franchise Agreement. This secures the payment outlined in the Promissory Note and ensures compliance with all related agreements.
If the franchisee fails to pay interest, principal, or any other amount due, or breaches any covenant, and the issue remains unresolved for more than five days, the entire debt becomes immediately due. Coffee News has the right to realize the security granted, including selling the franchise. The acceptance of any payment does not waive Coffee News's right to enforce these terms at any time.
The Promissory Note also includes terms regarding collection costs. If Coffee News has to use an agent or attorney to collect payments, the franchisee is responsible for covering the costs and reasonable expenses of collection, including attorney's fees. The Promissory Note and Schedule B are governed by the laws of Maine. The franchisee acknowledges receipt of the Schedule B, the Promissory Note, and Exhibit A, which is the Guaranty of Performance, and confirms they have had the opportunity to seek legal advice before signing.