Where are payments payable to the Holder for the Corcoran franchise?
Corcoran Franchise · 2025 FDDAnswer from 2025 FDD Document
ll not be deemed to have any legal effect.
[Remainder of page left blank; Signature page follows]
THIS PROMISSORY NOTE MAY NOT BE ACCEPTED BY HOLDER WITHOUT ALL MAKER AND CO-MAKER SIGNATURES AND ALL WITNESS SIGNATURES AND ADDRESSES
IN WITNESS WHEREOF, the undersigned Maker and Co-Maker(s) have executed this Note as of the date first set forth above.
| MAKER: | |
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| By: | |
| Name: | |
| Title: | |
| Authorized Person | |
| CO-MAKER: | |
| , | |
| Individually | |
| CO-MAKER: | |
| , | |
| Individually |
EXHIBIT D-2 EXHIBIT D-2
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EXPANSION PROMISSORY NOTE
Dated:
| MAKER: | |
|---|---|
| CO-MAKER(S): | |
| HOLDER: | CORCORAN GROUP LLC |
| PLACE FOR PAYMENT: | 175 PARK AVENUE, MADISON, NJ |
| PRINCIPAL: | $ |
| ANNUAL INTEREST RATE: | 0%, EXCEPT AS DESCRIBED BELOW |
| MATURITY DATE: | December 31, 20 |
- A. TERMS OF PAYMENT. FOR GOOD AND VALUABLE CONSIDERATION, the undersigned Maker and Co-Maker promise(s) to pay Holder (or its successors or assigns) the Principal set forth above on the Maturity Date and such Principal will be used for the Business (as defined in the Franchise Agreement). Payments are payable to Holder at 175 Park Avenue, Madison, New Jersey, or at such other place as Holder may designate in writing. The Principal will, except as set forth below, bear no interest.
- B. PRINCIPAL PAYMENTS/INTEREST. The Principal will be paid in one installment of $ , payable . If Maker or Co-Maker(s) fail to make any payment when due, including the payment due upon acceleration of this Note, the entire outstanding Principal will bear simple interest from its due date until paid in full at a rate equal to the lesser of eighteen percent (18%) per year or the highest rate allowed by law.
- C. APPLICATION OF MONIES DUE MAKER. Notwithstanding the installment payments, Maker agrees that Holder, at its sole option, without notice, may apply to the outstanding due and payable Principal (and any accrued and unpaid interest) payments due to Maker from Holder under the ERA Volume Incentive Plan described in any franchise agreement between Maker and Holder, as
Source: Item 23 — RECEIPTS (FDD pages 75–276)
What This Means (2025 FDD)
According to Corcoran's 2025 Franchise Disclosure Document, payments are payable to the Holder at 175 Park Avenue, Madison, New Jersey, or at such other place as Holder may designate in writing. The Principal will be paid in one installment of $ , payable .
If the Maker or Co-Maker fails to make any payment when due, including the payment due upon acceleration of this Note, the entire outstanding Principal will bear simple interest from its due date until paid in full at a rate equal to the lesser of eighteen percent (18%) per year or the highest rate allowed by law.
Payments will be made in lawful money of the United States of America without offset, recoupment, deduction or counterclaim of any kind. Payments, when made, will first be applied to accrued and unpaid interest, if any, and then to Principal. Maker and Co-Maker(s) may prepay this Note in whole or in part on any date without premium or penalty. No partial prepayment will extend or postpone the due date of any subsequent installment payment or change the amount of the installment payment. Prepayments will be applied without notation on this Note.