What is the consideration for the power of attorney granted to Cr3 American Exteriors?
Cr3_American_Exteriors Franchise · 2025 FDDAnswer from 2025 FDD Document
For value received, Franchisee hereby irrevocably appoints Franchisor as Franchisee's attorney-in-fact, to act in Franchisee's place, for the purpose of assigning any Listings. This appointment gives to us full power to receive, transfer or assign to us or our designee or take any other actions required of Franchisee under the Agreement. Franchisee grants Franchisor full authority to act in any manner proper or necessary to the exercise of the foregoing powers, including full power of substitution and execution or completion of any documents required or requested by any telephone or other company to transfer such Listings and Franchisee ratifies every act that Franchisor may lawfully perform in exercising those powers. This power of attorney shall be effective for a period of two (2) years from the date of expiration, cancellation or termination of Franchisee's rights under the Agreement for any reason. Franchisee declares this power of attorney to be irrevocable and renounces all rights to revoke it or to appoint another person to perform
the acts referred to in this instrument. This power of attorney shall not be affected by the subsequent incapacity of Franchisee. This power is created to secure performance of a duty to Franchisor and is for consideration.
Source: Item 23 — RECEIPTS (FDD pages 53–150)
What This Means (2025 FDD)
According to Cr3 American Exteriors' 2025 Franchise Disclosure Document, the franchisee grants the franchisor power of attorney for value received. This appointment allows Cr3 American Exteriors to act on behalf of the franchisee to assign any listings, which include telephone numbers, listings, and advertisements, especially upon the expiration or termination of the franchise agreement.
The power of attorney grants Cr3 American Exteriors the authority to receive, transfer, or assign the listings to themselves or their designee. They can also take any actions required of the franchisee under the agreement. This includes the power to execute or complete documents needed by any telephone or other company to transfer such listings.
This power of attorney is effective for two years from the date of expiration, cancellation, or termination of the franchisee's rights under the agreement. The document explicitly states that the power of attorney is irrevocable and remains in effect even if the franchisee becomes incapacitated, emphasizing that this power is created to secure performance of a duty to Cr3 American Exteriors and is supported by consideration.