According to the Crawlspace Medic Franchise Agreement, what is Attachment 3?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
Developer desires to obtain the right to further develop and expand the System in accordance with the development schedule described in Section 5.2 hereof (the "Mandatory Development Schedule") within the development area described in Attachment 3 (the "Development Area"), under the System and Marks, on the terms and conditions set forth in this Agreement;
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, Attachment 3 to the Development Agreement defines the Development Area granted to the Developer. The Development Area outlines the geographic region where the Developer has the right to develop, construct, open, and operate Crawlspace Medic outlets, subject to the terms and conditions of the Development Agreement.
The agreement grants the Developer the right to establish additional Crawlspace Medic outlets within the Development Area, up to the total number of outlets specified in the Mandatory Development Schedule, as detailed in Section 5.2 of the agreement. This is contingent upon the Developer's full compliance with all conditions precedent to the grant of such rights.
Crawlspace Medic retains all rights to businesses not explicitly granted to the Developer within or outside the Development Area. For example, Crawlspace Medic reserves the right to offer other products or services, alternative crawlspace or basement care concepts, and products or services through alternative distribution channels such as the Internet. The franchisee will not receive compensation for Crawlspace Medic's sales through these alternative channels within the Territory.