Which document controls in the event of a contradiction between the Lease and the Floyds 99 Lease Addendum?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
aning hereof. This Release may be executed in any number of counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. If any provision of this Release shall be held by a court of competent jurisdiction to be invalid or unenforceable, such provision shall be deemed modified to eliminate the invalid or unenforceable element and, as so modified, such provision shall be deemed a part of this Release as though originally included. The remaining provisions of this Release shall not be affected by such modification. All provisions of this Release are binding and shall inure to the benefit of the Parties and their respective delegatees, successors and assigns.
[Signature Page Follows]
IN WITNESS WHEREOF, the Parties have caused this Release to be made effective on the day and year first above written.
FLOYD'S 99 FRANCHISING, LLC
Individually Individually AND (if a corporation, limited liability company or partnership) Company Name
EXHIBIT L (TO DISCLOSURE DOCUMENT)
LEASE ADDENDUM AND CONDITIONAL ASSIGNMENT OF LEASE
LEASE ADDENDUM
| This Addendum is attached to and made a part of that certain Lease (the "Lease") by and between ("Landlord") and | |
|---|---|
| ("Tenant") for certain premises located at (the "Premises") in | |
| the ("Shopping Center"). |
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Floyds 99 Lease Addendum takes precedence over the standard lease agreement in case of any inconsistencies. This means that if there's a conflict between what's written in the original lease and what's stated in the addendum, the terms of the addendum will be enforced. This is designed to ensure that the specific requirements and interests of Floyds 99 are protected.
For a prospective Floyds 99 franchisee, this is a crucial point to understand. The addendum is specifically tailored to protect Floyds 99's interests and brand standards. Landlords must adhere to the addendum, which can cover aspects like signage, use of premises, and the franchisor's rights upon termination or default. This clause ensures that the Floyds 99 franchise maintains uniformity and that the franchisor has certain rights related to the property, regardless of what the base lease might say.
This arrangement is fairly common in franchising, as franchisors often need to ensure consistent brand representation and operational standards across all locations. By giving the Lease Addendum controlling power, Floyds 99 can maintain greater control over the leased premises and protect its brand identity. Franchisees should carefully review both the lease and the addendum to fully understand their obligations and rights, as the addendum can significantly alter the terms of the original lease.