Does the Crawlspace Medic agreement specify the addresses for the tenant and landlord for notices?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| /or define by Zip Codes): |
|---|
| Franchised Business |
| Office Address: |
| THIS COLLATERAL ASSIGNMENT OF LEASE AGREEMENT (this or the |
|---|
| "Agreement") made this |
| day of |
| , 20 |
| by and |
| between |
| (hereinafter referred to as "Landlord"), |
| (hereinafter referred to as |
| "Tenant"); and CSM Franchise Group, LLC, a South Carolina |
| limited |
| liability company |
| (hereinafter referred to as "Franchisor"). |
| Landlord has leased to Tenant certain premises known as |
| (the |
| "Premises"), |
| under |
| the |
| terms of a Lease executed concurrently herewith, (the "Lease"), for Tenant's use of the same as a |
| Crawlspace Medic location |
| pursuant to a franchise agreement between Franchisor and Tenant, as |
| franchisee (the "Franchise Agreement"). |
| This Agreement is entered into in consideration of and in connection with |
| Franchisor's approval of the Premises as a Crawlspace Medic location |
| and the grant of a franchise |
| to Tenant. This Agreement is intended to provide Franchisor and with the opportunity to preserve |
SECTION I GRANT OF OPTION
the continued use of the Premises as a Crawlspace Medic location under circumstances hereinafter set forth. In consideration of the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged, the parties agree as
- 1.1.
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
Based on the 2024 Crawlspace Medic Franchise Disclosure Document, the Collateral Assignment of Lease Agreement involves the landlord, tenant, and Crawlspace Medic as the franchisor. The agreement pertains to premises leased by the landlord to the tenant, intended for use as a Crawlspace Medic location under a franchise agreement. While the agreement identifies the parties involved, it does not explicitly state that the addresses for the tenant and landlord are specified for the purpose of sending notices.
However, the agreement does state that the landlord will send Crawlspace Medic copies of all default notices, warning and termination letters and notices it gives to the tenant concurrently with giving such notices to the tenant. If the tenant fails to cure any defaults within the period specified in the Lease and the Landlord intends to terminate the Lease and/or Tenant's right of possession of the Premises, Landlord shall promptly give Franchisor written notice thereof, specifying the defaults Tenant has failed to cure and shall offer Franchisor, without any conditions other than those set forth in this Collateral Assignment of Lease, the Option to assume the Tenant's interests, or former interests, in the Lease.
Therefore, while the FDD excerpts do not confirm that the addresses are explicitly listed for notification purposes, it is implied that such information would be necessary for the landlord and Crawlspace Medic to fulfill their obligations under the Collateral Assignment of Lease Agreement. A prospective franchisee should confirm with Crawlspace Medic whether the addresses for sending official notices are indeed specified in the agreement or related documents.