Under the Exit franchise agreement, which section details the franchisee's obligations regarding site selection and lease?

According to Exit's 2025 Franchise Disclosure Document, the franchisee's obligations regarding site selection and lease are detailed in Section 3 of the Franchise Agreement. This information is further referenced in Item 11 of the disclosure document.

Specifically, Item 11 outlines that the franchisee must select their office site, subject to Exit Realty Upper Midwest's review and consent, and secure the title for the site, either through fee or leasehold. While Exit Realty Upper Midwest may offer consultation regarding site selection, the franchisee is ultimately responsible for finding and obtaining an acceptable site. Exit Realty Upper Midwest considers factors such as competition, market analysis, proximity to other real estate offices, building suitability, traffic, and the nature of adjacent businesses when evaluating a proposed site. The office site must also be within the franchisee's protected territory.

Furthermore, if the franchisee has not selected a site, if they cannot agree on a site with Exit Realty Upper Midwest, or if they have not opened their office within 120 days of signing the Franchise Agreement, Exit Realty Upper Midwest has the right to declare the agreement null and void. In such a case, the initial fee or any other amounts paid to Exit will not be returned to the franchisee. Franchisees typically open their offices approximately 2 to 3 months after signing the Franchise Agreement, with the primary factor affecting this timeframe being whether the office is converted from an existing facility or built by the franchisee.