How can the Corcoran Security Agreement be amended?

According to Corcoran's 2025 Franchise Disclosure Document, the Security Agreement may only be amended through a written document that has been signed by both parties involved. This means that any changes to the original agreement must be formally documented and agreed upon in writing by both Corcoran and the franchisee (Debtor).

This requirement ensures that all modifications are clear, unambiguous, and legally binding, protecting both parties from potential misunderstandings or disputes. It also provides a clear record of any changes made to the original terms of the agreement.

For a prospective Corcoran franchisee, this means that if any amendments to the Security Agreement are needed during the franchise term, they must ensure that these changes are documented in writing and signed by an authorized representative of Corcoran to be valid and enforceable.