What is an Extreme Art Rider, and when is it executed?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Address: [Insert Address of Spouse] | | Sign: | Sign: | | Printed Name: [Insert Name of Owner] | Printed Name: [Insert Name of Spouse] | | Address: [Insert Address of Owner] | Address: [Insert Address of Spouse] Rev. 030824 | | Extreme Art Studio Franchising, LLC hereby accepts the agreements of the Owner(s) hereunder. | | | EXTREME ART STUDIO FRANCHISING, LLC | | | Sign: | | | Title: | |
ATTACHMENT E
EXTREME ART RIDER
| THIS EXTREME ART RIDER ("Extreme Art Rider") is entered into and made effective as of |
|---|
| the date set forth on the signature page hereof ("Rider Effective Date"), by and between EXTREME ART |
| STUDIO FRANCHISING, LLC ("we," "us" or "our") and the franchisee named on the signature page |
| of this Extreme Art Rider ("Franchisee", "you" or "your"). This Extreme Art Rider relates to that certain |
| Extreme Art Studio Business Franchise Agreement and Extreme Art Multi-Franchise Addendum dated |
| , 20 (respectively, the "Franchise Agreement" and "Multi-Franchise |
| Addendum"), and supplements the terms of the Franchise Agreement in relation to the Extreme Art Studio |
| Business addressed herein. To the extent this Extreme Art Rider conflicts with the terms of the Franchise |
| Agreement, the terms of this Extreme Art Rider shall control. |
| 1. |
| Extreme Art Studio Business Number. This Extreme Art Rider evidences the |
| Extreme Art Studio Business ("Rider Business") of total Extreme Art Studio Businesses you |
| are authorized to open and operate under the Franchise Agreement. |
| 2. |
| Defined Terms. All capitalized terms not otherwise defined herein shall have the meaning ascribed |
| to it in the Franchise Agreement. |
| 3. |
| Separate Extreme Art Studio Business. The Rider Business shall be a separate franchise from |
| the Extreme Art Studio Business operated under the Franchise Agreement. Notwithstanding the foregoing, |
| and unless explicitly state otherwise, the Rider Business shall be opened and operated in accordance with |
| the terms of the Franchise Agreement, and you will pay all required fees of the Rider Business as if it were |
| the Extreme Art Studio Business under the Franchise Agreement. |
| 4. |
| Information Submission for Extreme Art Studio Business. If this Extreme Art Rider is for an |
| Extreme Art Studio Business, you shall obtain our prior written approval for the site at which you will |
| operate the Rider Business. You must complete and submit all information regarding the proposed site |
| prior to signing a lease or any binding agreement for the site as set forth in Section Error! Reference s |
| ource not found. of the Franchise Agreement. We will not approve any site that does not meet our then |
| current criteria. |
| Our consultation and approval of the Approved Location and the lease or purchase |
| agreement thereto is not a promise or guarantee that the Rider Business or the Approved Location thereto |
| will be successful or profitable. If we disapprove of a location you propose, you must select an alternate |
| site and repeat the site approval process specified in the Franchise Agreement until we have approved a |
| proposed site for the Rider Business. |
| You acknowledge that you have the ultimate responsibility in |
| choosing and obtaining the site for your Rider Business. If you and we are not able to reach agreement on |
| an Approved Location for your Rider Business within four months after you sign this Extreme Art Rider, |
| we have the option to terminate the Franchise Agreement. |
| 5. |
| Approved Location. Please check one of the following: |
| Extreme Art Studio Business – If a particular site has not been selected and approved at the |
| time of signing the Franchise Agreement, we have described the location in general terms below |
| ("General Description"). The General Description does not confer any territory rights to you and |
| is only used for a reference. We may sell other franchised locations in the area in this General |
| Description. The General Description is: |
Once you have received approval of the site location for the initial Extreme Art Studio Business that satisfies the demographics and location requirements minimally necessary for an Extreme Art Studio Business and that meets our minimum current standards and specifications for the build out, interior design, layout, floor plan, signs, designs, color and décor, we will complete Attachment E-1 attached hereto, to specify the Approved Location for your initial Extreme Art Studio Business as provided in Section 1.4 of the Agreement.
- 6. Territory. Once you and we have mutually agreed upon a Territory in conformance with the territory guidelines stated in Item 12 of the Franchise Disclosure Document, we will complete Attachment E-1 to specify the Territory.
- 7. Services Provided by Extreme Art Franchising for the Extreme Art Studio Business. Except as otherwise provided in the Franchise Agreement, we or our designees shall provide the pre-opening and ongoing services set forth in Section 4 of the Franchise Agreement to Franchisee related to its Rider Business.
- 8. Termination, Expiration and Renewal.This Extreme Art Rider and Franchisee's right to operate the Rider Business hereunder shall terminate as of the date of termination or expiration of the Franchise Agreement, or upon a transfer of the Rider Business in compliance with the provisions of the Franchise Agreement, regardless of when this Extreme Art Rider is executed, and shall be subject to the renewal provisions of Section 13 of the Franchise Agreement.
(Signature page follows)
IN WITNESS WHEREOF, the parties have executed and delivered this Extreme Art Rider, to be effective as of the Rider Effective Date.
EXTREME ART STUDIO FRANCHISING, LLC,
a Minnesota limited liability company
| Sign: | |
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| Name: | |
| Title: | |
| DATED: | |
| FRANCHISE OWNER | FRANCHISE OWNER |
| (IF YOU ARE A CORPORATION, LIMITED LIABILITY COMPANY, OR PARTNERSHIP): | (IF YOU ARE AN INDIVIDUAL AND NOT A LEGAL ENTITY): |
| (Entity Name) | (Signature) |
| Sign: | (Print Name) |
| Name: | DATED: |
| Title: | |
| DATED: |
ATTACHMENT E-1
TO THE EXTREME ART RIDER
| (Signature page follows) |
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| You and we have mutually agreed upon a Territory for the Rider Business. The Territory for your Rider |
| Business, as provided in Section 1.5 of the Agreement is defined as a four-mile radius around the physical |
| studio location address; |
| Territory: |
| The Approved Location for your Rider Business, as provided in Section 1.4 of the Agreement, is: |
| Approved Location: Please select one and fill out the following (as applicable): |
a Minnesota limited liability company
| Sign: | |
|---|---|
| Name: | |
| Title: | |
| DATED: | |
| FRANCHISE OWNER | FRANCHISE OWNER |
| (IF YOU ARE A CORPORATION, LIMITED LIABILITY COMPANY, OR PARTNERSHIP): | (IF YOU ARE AN INDIVIDUAL AND NOT A LEGAL ENTITY): |
| (Entity Name) | (Signature) |
| Sign: | (Print Name) |
| Name: | DATED: |
| Title: | |
| DATED: |
EXHIBIT H
CONTRACTS FOR USE WITH THE EXTREME ART FRANCHISE
The following contracts contained in Exhibit H are contracts that Franchisee is required to utilize or execute after signing the Franchise Agreement in the operation of an Extreme Art Studio Business. The following are the forms of contracts that Extreme Art Studio Franchising, LLC uses as of the Issuance Date of this Franchise Disclosure Document. If they are marked "Sample," they are subject to change at any time.
EXHIBIT H-1
EXTREME ART FRANCHISE
SAMPLE GENERAL RELEASE AGREEMENT
WAIVER AND RELEASE OF CLAIMS
| This Waiver and Release of Claims ("Release") is made as of | , 20 t | οу |
|---|---|---|
| , a(n) | _ (" Franchisee "), ar | nd |
| each individual holding an ownership interest in Franchisee (collectively with Franchisee, | , "Releasor") in fav | or |
| of Extreme Art Studio Franchising, LLC, a Minnesota limited liability company ("Franchising, LLC) | chisor," and togeth | er |
| with Releasor, the "Parties"). | _ |
WHEREAS, Franchisor and Franchisee have entered into a Franchise Agreement ("Agreement") pursuant to which Franchisee was granted the right to own and operate an Extreme Art Studio Business;
WHEREAS, (Franchisee has notified Franchisor of its desire to transfer the Agreement and all rights related thereto, or an ownership interest in Franchisee, to a transferee/enter into a successor franchise agreement/amend the Agreement) or (the Agreement is being terminated/or indicate other reason for the requirement of this waiver and release), and Franchisor has consented to such (transfer/successor franchise agreement/amendment/termination/other reason); and
WHEREAS, as a condition to Franchisor's consent to (transfer the Agreement/enter into a successor franchise agreement/amend the agreement/terminate the Agreement/other reason), Releasor has agreed to execute this Release upon the terms and conditions stated below.
NOW, THEREFORE, in consideration of Franchisor's consent, and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and intending to be legally bound, Releasor hereby agrees as follows:
-
- Representations and Warranties. Releasor represents and warrants that it is duly authorized to enter into this Release and to perform the terms and obligations herein contained, and has not assigned, transferred, or conveyed, either voluntarily or by operation of law, any of its rights or claims against Franchisor or any of the rights, claims, or obligations being terminated and released hereunder. Each individual executing this Release on behalf of Franchisee represents and warrants that he/she is duly authorized to enter into and execute this Release on behalf of Franchisee. Releasor further represents and warrants that all individuals that currently hold a direct or indirect ownership interest in Franchisee are signatories to this Release.
- Release.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, the Extreme Art Rider is a document that supplements the terms of the Franchise Agreement specifically for the Extreme Art Studio Business. It is entered into and becomes effective as of the Rider Effective Date, which is the date set forth on the signature page of the Rider.
The Extreme Art Rider is executed once both Extreme Art Studio Franchising, LLC and the franchisee have signed and delivered the document. This typically occurs after the franchisee's site location has been approved, ensuring it meets the demographic and location requirements, as well as the franchisor's standards for build-out, interior design, layout, and décor. Attachment E-1 is completed to specify the approved location.
Additionally, the Extreme Art Rider specifies the territory once both parties have agreed upon it, in accordance with the guidelines outlined in Item 12 of the Franchise Disclosure Document. The Rider outlines the pre-opening and ongoing services that Extreme Art Studio will provide to the franchisee, as detailed in Section 4 of the Franchise Agreement. The Extreme Art Rider's term is linked to the Franchise Agreement, terminating upon the Franchise Agreement's termination or expiration, or upon the transfer of the Rider Business, subject to the renewal provisions in Section 13 of the Franchise Agreement.