What are Jersey Mikes' material obligations under the terms of a single-unit franchise agreement?

g; all of which may be changed, improved and further developed by Franchisor from time to time; and

Franchisor is the owner of all right, title and interest together with all the goodwill connected therewith in and to the trade names, service marks and trademarks "JERSEY MIKE'S", "JERSEY MIKE'S ESTABLISHED IN '56 PT. PLEASANT, plus the design", "MIKE'S, plus the design", associated logos, commercial symbols, and such other trade names, service marks, and trademarks as are now designated (and may be designated by Franchisor in writing in the future) as part of the System (referred to as "Marks"), and Franchisor continues to develop, use and control such Marks for the benefit and use of itself and its franchisees in order to identify for the public the source of products and services marketed thereunder and to represent the System's high standards of operations, quality, food products, appearance, and service; and

Franchisee desires to operate a JE RSEY MIKE'S Restaurant ("Restaurant") under Franchisor's System and wishes to obtain a franchise from Franchisor for that purpose, as well as to receive the training and other assistance provided by Franchisor in connection therewith; and

Franchisee understands and acknowledges the importance of Franchisor's standards of quality and service and the necessity of operating the JERSEY MIKE'S Restaurant in conformity with Franchisor's standards and specifications; and

Franchisor expressly disclaims the making of and Franchisee acknowledges that it has not received or relied upon, any warranty or guaranty, expressed or implied, as to the revenues, profits or success of the business venture contemplated by this Agreement. Franchisee acknowledges that it has read and understands this Agreement and Franchisor's Disclosure Document, and that no representations have been made by Franchisor, or its officers, directors, shareholders, employees or agents that are contrary to the statements made in Franchisor's Disclosure Document, or to the terms of this Agreement,

In consideration of the mutual rights and obligations contained in this Agreement, Franchisor and Franchisee agree as follows:

1. APPOINTMENT AND FRANCHISE FEE

1.1 Franchisor hereby grants to Fr anchisee, upon the terms and conditions contained in this Agreement, the right , franchise and privilege t o use the Marks, and to operate a JERSEY MIKE'S Restaurant (sometimes referred to as "Franchised Restaurant" or "the Restaurant") using the System, only at the location identified on the Summary Pages. If the Restaurant Location has not been identified on the Summary Pages, Franchisee will find an acceptable location for the Restaurant within the search area identified in Exhibit B-1 of this Agreement (the, "Search Area"). The Search Area has been identified for the sole purpose of facilitating the orderly development of the market, and not for purposes of granting Franchisee any exclusivity or protection within the Search Area. Franchisee acknowledges and agrees that Franchisor does not guarantee that Franchisee will find an acceptable site within the Search Area description set forth on Exhibit B-1 and that the Search Area is subject to change upon mutual agreement by Franchisor and Franchisee.

Source: Item 22 — CONTRACTS (FDD page 77)