What action must the developer take to acknowledge the Monicals Pizza addendum?
Monicals_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
| between Monical Pizza Corporation and | This Addendum to the Area Development Agreement is agreed to this day of, 20, by and | |
|---|---|---|
| 1. | In recognition of the requirements of New York's General Business Law, Article 33, §§680 through | |
| 695, the Area Development Agreement for Monical Pizza Corporation is amended as follows: | ||
| | Section 7.1 of the Area Development Agreement is amended to provide that Franchisor will | |
| not transfer and assign its rights and obligations under the Area Development Agreement | ||
| unless the transferee will be able to perform the Franchisor's obligations under the Area | ||
| Development Agreement, in Franchisor's good faith judgment, so long as it remains subject | ||
| to Article 33 of the General Business Law of the State of New York. | ||
| | No provision in the Area Development Agreement shall be construed as requiring Developer | |
| General Business Law of the State of New York. | to waive any right conferred upon the Developer by the provisions of Article 33 of the | |
| | Section 8 of the Area Development Agreement is amended to provide that the Developer may | |
| terminate the Area Development Agreement on any grounds available by law. | ||
| 2. | or exhibits or attachments thereto, the terms of this Addendum shall govern. | Each provision of this Addendum shall be effective only to the extent that the jurisdictional |
| requirements of the New York Law applicable to the provisions are met independently of this Addendum. To the extent | ||
| this Addendum shall be deemed to be inconsistent with any terms or conditions of said Area Development Agreement | ||
| understands and consents to be bound by all of its terms. | IN WITNESS WHEREOF, each of the undersigned hereby acknowledges having read this Addendum and | |
| MONICAL PIZZA CORPORATION: | Developer: | |
| By: | By: | |
| Title: | Title: |
Source: Item 23 — RECEIPTS (FDD pages 46–257)
What This Means (2025 FDD)
According to the 2025 Monicals Pizza Franchise Disclosure Document, to acknowledge the addendum to the Area Development Agreement, the developer must acknowledge having read the addendum and consent to be bound by its terms. This is done by signing the addendum. The addendum includes signature lines for both Monicals Pizza Corporation and the Developer, along with spaces for the signatures, titles, and the date.
This requirement ensures that the developer is fully aware of and agrees to any changes or additions to the original Area Development Agreement. These addenda often address specific state laws or regulations that may affect the franchise agreement, such as those related to franchise termination, non-renewal, or dispute resolution.
By signing the addendum, the developer confirms their understanding and acceptance of these modifications, which is a standard practice in franchising to ensure compliance with applicable laws and to protect the interests of both the franchisor and the franchisee. This acknowledgement is crucial for the addendum to be legally binding and enforceable.