• 1. The Undersigned hereby confirms that the proceeds of this Promissory Note will be used for the business purpose of starting a COOL BINZ franchised business.
• 1. It is the parties' intent that the provisions of this Promissory Note be judicially enforced to the fullest extent permissible under applicable law. Accordingly, the parties agree that any reduction in scope or modification of any part of the provisions contained here in this Promissory Note shall not render any other part unenforceable.
• 1. Holder's failure to enforce any rights granted to it under this Promissory Note will not constitute a waiver of such rights.
• 1. This Promissory Note is binding upon and will insure to the benefit of the parties and their successors, heirs, and assigns.
• 1. The persons executing this Note on behalf of the Undersigned acknowledge their authority to do so.

I HAVE READ THE ABOVE NOTE AND UNDERSTAND ITS TERMS. I WOULD NOT SIGN THIS NOTE IF I DID NOT UNDERSTAND AND AGREE TO BE BOUND BY ITS TERMS.

As provided in this Franchise Agreement this Promissory Note is personally guaranteed by

HOLDER: UNDERSIGNED: Date: [FRANCHISEE NAME] [NAME], Individually

Source: Item 23 — RECEIPTS (FDD pages 63–238)