Is the Floyds 99 Lease Addendum considered part of the Lease agreement?

Based on the 2025 Floyds 99 Franchise Disclosure Document, the Lease Addendum is related to the lease agreement. Specifically, the document mentions that the Franchise Agreement requires the lease to contain certain provisions, which, if not already in the lease, are included in the addendum. This suggests that the Lease Addendum serves to supplement the original lease agreement with terms necessary to align it with Floyds 99's franchising requirements.

Several clauses within the Lease Addendum outline the relationship and obligations between the landlord, the tenant (franchisee), and Floyds 99. For instance, Floyds 99 requires written consent from the franchisor for any lease modifications or terminations, ensuring that the franchisor's interests are protected. The addendum also grants Floyds 99 the right to enter the premises and remove trade dress and property under certain conditions, further highlighting the franchisor's stake in the lease agreement.

Additionally, the Lease Addendum includes provisions for assignment and subletting, allowing the tenant to assign the lease to Floyds 99 or its franchisees under specific circumstances without needing the landlord's consent. The landlord must also provide Floyds 99 with notice of any tenant defaults and allow the franchisor an opportunity to cure the default. These stipulations reinforce the interconnectedness of the lease and the franchise agreement, indicating that the Lease Addendum is an integral part of ensuring the franchise's operational and brand consistency.

In summary, while the Lease Addendum might not be the original lease document, it functions as a critical component that tailors the lease agreement to meet the specific requirements and protect the interests of Floyds 99. Prospective franchisees should carefully review the Lease Addendum in conjunction with their lease agreement to fully understand their rights and obligations.