What is the Extreme Art Rider for the Extreme Art Studio franchise?
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: | |
|---|---|
| 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) |
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, the Extreme Art Rider is a contract addendum to the standard franchise agreement. It is made effective as of the date on the signature page and is between Extreme Art Studio Franchising, LLC and the franchisee. The Extreme Art Rider pertains to a specific Extreme Art Studio Business Franchise Agreement, with the date also indicated on the signature page.
The Extreme Art Rider specifies the approved location for any additional Extreme Art Studio businesses beyond the initial location. Attachment B designates the initial location, while the Extreme Art Rider, along with Attachment E-1, specifies the location for subsequent studios. If the location isn't approved when the agreement is signed, these attachments will describe the location in general terms until a specific site is approved.
The Extreme Art Rider also addresses territory, services, and the terms of termination, expiration, and renewal. Once the franchisee and Extreme Art Studio mutually agree on a territory, as per the guidelines in Item 12 of the FDD, Attachment E-1 will specify the territory. Extreme Art Studio will provide pre-opening and ongoing services related to the Rider Business, as detailed in Section 4 of the Franchise Agreement. The Rider's term is linked to the Franchise Agreement, terminating upon the agreement's termination or expiration, or upon transfer of the Rider Business, and is subject to the Franchise Agreement's renewal provisions.