To put the performance of these bonds into context, I feel performance is less FICO driven vs. a combination of skin in the game and experience as you alluded to. 

^^^ Her Poker Face will be the ultimate deciding factor about how much of the truth is being revealed after all!!

A well run business has reserves and performs risk management. 

Either way, they are putting time and resources into renting your property and, like you, deserve compensation for work performed.

Does recoverable deprecation belong to me or the company that perform the work? 

Depending on where you are in your contract, you may have a valid contingency to exercise to terminate the agreement, or you may not; if not, they could sue you for specific performance.  

I've been working with the model for several years now... the first round didn't go very well because the provider of them more or less stopped performing.

This will likely lead to some marginal stores shuttering for good, but high performers will stay open.In my opinion this is being magnified by COVID19, but that is not the root cause. 

Those that have to sell are left with the few buyers that are left who expect significant discounts.For non performing notes, I think we'll see the main deals in the next few months to a year come from mortgage note funds that buy performing notes or MBS and use leverage to amplify returns.

You can probably guess where this is going.....A small portion of our loan book consists of performing mortgages (~5%).