When can a Southern Steer franchisee sign the lease?

According to Southern Steer's 2025 Franchise Disclosure Document, a franchisee can sign the lease under specific conditions. First, both the franchisee and Southern Steer must sign the Franchise Agreement. Second, the lease must contain the terms required within the agreement, including those outlined in the Form of Lease Addendum, which is Attachment F of the Franchise Agreement.

Prior to signing the lease, the franchisee must provide Southern Steer with a copy of the proposed lease for the selected site at least 30 days before the signing date. This allows Southern Steer to review the lease terms for compliance with the Franchise Agreement. However, Southern Steer's review is limited to ensuring compliance with the agreement's terms and does not constitute business, economic, legal, or real estate advice.

The franchisee bears the sole responsibility for all lease terms, including their enforceability, economics, and legality. Additionally, the enforceability of the lease must be conditional upon Southern Steer approving the franchisee and the Franchise Agreement's enforceability. The franchisee is also expected to exert their best efforts to negotiate terms and conditions from the lessor that align with both the agreement and the Form of Lease Addendum. Furthermore, the lease terms must grant Southern Steer the right to conduct inspections on the premises during regular business hours. The franchisee is also required to execute a Collateral Assignment of Lease, which is Attachment F-1, assigning the franchisee's rights in the lease to Southern Steer in the event of termination, expiration, or default.

Finally, the franchisee must provide Southern Steer with executed copies of the lease or purchase closing documents within 10 days after execution. The franchisee is required to execute a lease that complies with these requirements within 90 days after the Effective Date of the Franchise Agreement.