What is my financial obligation regarding the cost of the appraisal if Itan exercises its purchase option?

According to Itan's 2025 Franchise Disclosure Document, if Itan exercises its purchase option and an appraisal is required to determine the value of the acquired assets, the franchisee and Itan will each pay 50% of the appraisal cost.

The appraisal process involves both parties attempting to agree on a single independent appraiser. If they cannot agree, each party will appoint an appraiser within 15 days of a demand for appraisers. The two appraisers then jointly appoint a third appraiser within 30 days of the initial demand. Should a party fail to appoint an appraiser within the specified timeframe, the appraiser selected by the other party will be considered the single appraiser.

The price will be determined by the single appraiser's valuation. If three appraisers are used, the purchase price will be the value agreed upon by at least two of them. If no consensus is reached, the average of the two closest appraised values will determine the purchase price. This cost-sharing arrangement ensures that both Itan and the franchisee have a financial stake in the appraisal process, promoting fairness and diligence in determining the value of the assets being purchased.