For a Healthsource Chiropractic franchise, what is the relationship between the Development Agreement and the Amendment to Development Agreement?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS AMENDMENT TO DEVELOPMENT AGREEMENT ("Amendment") dated , is intended to be a part of, and by this reference is incorporated into that certain Development Agreement (the "Development Agreement") dated, by and between HealthSource Chriopractic, LLC("Franchisor"), a Delaware limited liability company, with its principal office in Avon, Ohio, and ("you" or "Franchisee"). Defined terms contained in the Development Agreement shall have the identical meanings in this Amendment.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
According to the 2025 Healthsource Chiropractic Franchise Disclosure Document, an Amendment to the Development Agreement is designed to be an integral part of the original Development Agreement. The Amendment explicitly states that it is incorporated into the Development Agreement by reference, meaning that the two documents should be read together as one cohesive agreement. Any terms defined within the original Development Agreement maintain the same meaning within the Amendment, ensuring consistency across both documents.
Several versions of the Amendment to the Development Agreement are included, specifically tailored for different states such as California and New York. These state-specific amendments suggest that certain terms or conditions of the Development Agreement may need to be modified to comply with local laws and regulations. The inclusion of these amendments highlights Healthsource Chiropractic's attention to legal compliance within different jurisdictions.
In essence, the Amendment serves to modify, clarify, or add to the terms of the original Development Agreement. It ensures that the Development Agreement remains current, legally compliant, and reflects the specific circumstances of the franchisee's location. Prospective Healthsource Chiropractic developers should carefully review both the Development Agreement and any associated Amendments to fully understand their rights and obligations.