What obligations does Degree Wellness assume if it takes assignment of the lease?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
no liability under the Lease, unless and until the Lease is assigned to, or assumed by, Franchisor.
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- Except for Franchisee's obligations to Landlord for rents and other financial obligations accrued prior to the assignment of the Lease, in the event of such assignment, Franchisor or any affiliate designated by Franchisor will agree to assume from the date of assignment all obligations of Franchisee remaining under the Lease, and in such event Franchisor or any affiliate will assume Franchisee's occupancy rights, and the right to sublease the Premises, for the remainder of the term of the Lease. In the event of such assignment, neither Franchisor nor any affiliate will be required to pay to Landlord any security deposit.
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- Notwithstanding anything contained in this Lease, Franchisor is expressly authorized, without the consent of the Landlord, to assign the Lease, or to sublet all or a portion of Premises, to an authorized franchisee. If Franchisor elects to assign the Lease, the subtenant/franchisee shall expressly assume all of Franchisor's obligations under the Lease, and Franchisor shall be released of all obligations to Landlord under the Lease as of the date of assignment. If Franchisor elects to sublet the premises, such subletting shall be subject to the terms of this Lease, the subtenant/franchisee shall expressly assume all of Franchisor's obligations under the Lease, and Franchisor shall remain liable for the performance of the terms of this Lease. Franchisor shall notify Landlord as to the name of the subtenant/franchisee within 10 days after such assignment or subletting, as applicable.
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- Franchisee will not assign the Lease or renew or extend the term thereof without the prior written consent of Franchisor.
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- Neither Landlord nor Franchisee shall amend or otherwise modify the Lease in any manner that could materially affect any of the foregoing requirements without the prior written consent of Franchisor.
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- All notices hereunder shall be by certified mail to the addresses set forth above or to such other addresses as the parties hereto may, by written notice, designate. Notices required to be given to Franchisor shall be delivered to the following address: 200 Riverside Ave., Jacksonville, FL 32202.
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- This Lease Addendum shall be binding upon the parties hereto, their heirs, executors, successors, assigns and legal representatives.
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- The terms of this Lease Addendum will supersede any conflicting terms of the Lease.
IN WITNESS WHEREOF, the parties have executed this Lease Addendum as of the date first above written.
| TENANT: | |
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| By: | |
| LANDLORD: | By: |
| FRANCHISOR: | By: |
EXHIBIT 5 ACH AGREEMENT
Degree Wellness Franchise, LLC
200 Riverside Ave., Jacksonville, FL 32202 734-619-0919
CHECKING ACCOUNT - DEBIT/CREDIT AUTHORIZATION
Please complete and sign the form below, attach a voided check and mail or fax to thefollowing: Degree Wellness Franchise, LLC at (734) 619-0919
| | Name | Principal Business Address | Telephone Number | |---|---|---|---| | Amanda Watts | 200 Riverside Ave., Jacksonville, FL 32202 | (904) 469-5977 | | | Tom Ryan, Jr. | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Kimberly Moreno | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Cassandra Gordon | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Dana DeMarino | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Hannah Mort | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Megan Tewes | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Kaytlyn Randall | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | | Amie Hawk | 6934 Frances St., Ste 105 Omaha NE 68130 | (531) 333-3278 | | ATTACH VOID CHECK HERE
**We cannot process this request without a voidedcheck.
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, if Degree Wellness elects to assume the lease from a franchisee, the landlord will recognize Degree Wellness as the tenant, and the franchisee will no longer have any rights under the lease. If Degree Wellness chooses to sublet the premises, the franchisee/subtenant must expressly assume all of Degree Wellness's obligations under the lease, and Degree Wellness will remain liable for the performance of the terms of the lease. Degree Wellness must notify the landlord of the name of the subtenant/franchisee within 10 days after such assignment or subletting.
Degree Wellness is authorized to assign the lease or sublet the premises to an authorized franchisee without the landlord's consent. If Degree Wellness assigns the lease, the subtenant/franchisee must expressly assume all of Degree Wellness's obligations under the lease, and Degree Wellness will be released of all obligations to the landlord under the lease as of the date of assignment. In the event of such assignment, neither Degree Wellness nor any affiliate will be required to pay the landlord any security deposit.
Furthermore, the landlord and franchisee acknowledge that Degree Wellness is not a party to the lease and will have no liability under the lease unless and until the lease is assigned to or assumed by Degree Wellness. The franchisee will be permitted to assign the lease to Degree Wellness or its affiliates upon the expiration (without renewal) or earlier termination of the Franchise Agreement. The landlord consents to such assignment and agrees not to impose any assignment fee or accelerate rent under the lease in connection with such assignment, or require Degree Wellness to pay any past due rent or other financial obligation of the franchisee to the landlord.