Besides the agreement being signed, what other condition must be met before a Southern Steer franchisee can sign the lease?

According to the 2025 Southern Steer Franchise Disclosure Document, a franchisee must ensure the lease contains specific terms before signing it. In addition to the franchise agreement being signed by both parties, the lease must include the terms required under Section 5.4 of the franchise agreement and the terms outlined in the Form of Lease Addendum, which is attached to the agreement as Attachment F.

These required terms likely cover aspects such as the franchisee's rights and responsibilities regarding the property, the franchisor's access rights for inspections, and the conditions under which the lease can be assigned. The franchisee is expected to negotiate these terms with the lessor to secure them in the lease agreement.

Furthermore, the franchisee is obligated to execute a Collateral Assignment of Lease, included as Attachment F-1, which assigns the franchisee's rights in the lease to Southern Steer in the event of termination, expiration, or default. Ensuring these conditions are met protects both the franchisee and Southern Steer by aligning the lease terms with the franchise agreement and providing the franchisor with recourse in case of issues.