Common use of Modification to Agreement Clause in Contracts

Modification to Agreement. (a) The second to last sentence of Section 4(b) of the Agreement is hereby deleted in its entirety and replaced with the following two sentences: "No later than September 24, 2023, if Purchaser desires to extend the Entitlement Period for an additional period through October 24, 2023, Purchaser shall provide written notice to Seller and wire to Seller One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “First Extension Fee”), in consideration of the first extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section 17(b) due to an uncured default by Seller under this Agreement. No later than October 24, 2023, if Purchaser desires to extend the Entitlement Period for an additional period, through November 24, 2023, Purchaser shall provide written notice to Seller and wire to Seller One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Second Extension Fee”, and together with the First Extension Fee, the “Extension Fees”), in consideration of the second extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section l 7(b) due to an uncured default by Seller under this Agreement. (b) The proviso in Section 10(a)(ii) of the Agreement is hereby deleted in its entirety and replaced with the following: “provided, that, the Closing Date shall be scheduled no later than October 24, 2023 or, (i) if the first extension of the Entitlement Period is exercised, November 23, 2023, and (ii) if the second extension of the Entitlement Period is exercised, December 22, 2023.” (c) Exhibit E which is attached hereto is added as a new Exhibit E to the Agreement and is titled “Nonrefundable Deposit Schedule, Extension and Final Payments.” For the avoidance of doubt, among other things, Exhibit E reflects (i) a deposit summary with respect to the Xxxxxxx Money and portions thereof constituting the Nonrefundable Deposit, (ii) the final payments due to Seller at transaction close (which amounts do not include $50,000 Xxxxxxx Money), (iii) Purchaser extension options, and (iv) an increase in the Purchase Price for the $25,000 signing deposit and Extension Fees, with a corresponding credit against such increased price for the signing deposit and extension payments paid by Buyer.

Modification to Agreement. (a) The second to last sentence of Section 4(b10(a) of the Agreement is hereby deleted in its entirety and replaced with amended by adding the following two sentenceslanguage at the end of such Section: "No “Notwithstanding anything herein to the contrary, Purchaser shall have the option to extend the Closing Date if no later than September 24December 15, 2023, Purchaser deposits with Escrow Agent an amount of Three Hundred Seventy Five Thousand and 00/100 Dollars ($375,000.00) (such amount the “Third Extension Fee”), and if Purchaser desires to extend no such deposit is made the Entitlement Period for an additional period through October 24Closing Date must remain December 22, 2023. On or prior to December 15, 2023 Purchaser shall provide written notice to Seller and wire Escrow Agent of its intent to deposit the Third Extension Fee. Once the Third Extension Fee is made, (i) on December 15, 2023, One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00) of the Third Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to January 25, 2024, (ii) unless Purchaser has provided written notice to Seller that Purchaser intends to close by the then-applicable closing date, on January 12, 2024, One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00) of the Third Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to February 29, 2024, and (iii) unless Purchaser has provided written notice to Seller that Purchaser intends to close by the then-applicable closing date, on February 16, 2024, One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00) of the Third Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to March 28, 2024. Purchaser shall have the option to further extend the Closing Date if no later than March 15, 2024, Purchaser deposits with Escrow Agent an amount of One Hundred Fifty Thousand and 00/100 Dollars ($100,000.00150,000.00) (such amount the “First Fourth Extension Fee”), in consideration which event the Closing Date will be extended to April 26, 2024. If the Fourth Extension Fee is timely paid, Purchaser informs Seller of its intent to close on March 29, 2024 no later than March 25, 2024 and Purchaser thereafter actually consummates the first extension of Closing by March 29, 2024, the Entitlement PeriodFourth Extension Fee shall apply against the Purchase Price. If Purchaser does not close Escrow by March 29, which fee 2024 then on such date the One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) Fourth Extension Fee shall be earned in full and non-refundable in all events once paid released by Escrow Agent to Seller except in (and such amount shall not apply against the event of termination of this Agreement by Purchase Price). If Purchaser in accordance with the provisions of Section 17(b) due to an uncured default by Seller under this Agreement. No later than October 24, 2023, if Purchaser desires further elects to extend the Entitlement Period for Closing beyond April 26, 2024, then on or before April 12, 2024 Purchaser shall deposits into Escrow an additional period, through November 24, 2023, Purchaser shall provide written notice to Seller and wire to Seller One Three Hundred Thousand and 00/100 no/100 Dollars ($100,000.00300,000.00) (such amount the “Second Fifth Extension Fee”, and together with the First Extension Fee, the “Extension Fees”), in consideration which event (i) One Hundred Fifty Thousand and no/100 Dollars of the second extension of the Entitlement Period, which fee Fifth Extension Fee shall be earned in full and non-refundable in all events once paid released to Seller except in (and such amount shall not apply against the event of termination of this Agreement by Purchaser in accordance with the provisions of Section l 7(bPurchase Price), and (ii) due to an uncured default by Seller under this Agreement. (b) The proviso in Section 10(a)(ii) of the Agreement is hereby deleted in its entirety and replaced with the following: “provided, that, the Closing Date shall be scheduled no later than October 24extended to May 31, 2023 or2024.. Unless by May 17, 2024 Purchaser has provided written notice to Seller that Purchaser intends to close by the then-applicable closing date of May 31,2024, then on May 17, 2024, One Hundred Fifty Thousand and No/100 Dollars (i$150,000.00) if the first extension of the Entitlement Period is exercisedFifth Extension Fee shall be released by Escrow Agent to Seller (which amount shall not apply against the Purchase Price) and the Closing Date shall be extended to June 28, November 232024. Notwithstanding the foregoing, 2023to the extent paid by Purchaser, Seller shall be required to return the Third Extension Fee, Fourth Extension Fee, and Fifth Extension Fee to Purchaser if this Agreement is terminated by Purchaser pursuant to Section 11, Section 17(b), or Section 17 (iic) if the second extension of the Entitlement Period Agreement. If the Closing is exercisednot consummated due to the actions or inactions of the Purchaser, December 22any portion of the Third Extension Fee, 2023Fourth Extension Fee, and/or Fifth Extension Fee, as applicable, not yet released to the Seller shall then be deemed earned in full by Seller and such amounts not then released to Seller shall be released to the Seller by Escrow Agent. If the Closing is consummated and there remains in Escrow any portion of the Third Extension Fee, Fourth Extension Fee or Fifth Extension Fee, as applicable, such amounts may be credited from Escrow towards the Purchase Price at the Closing (for the avoidance of doubt, any portion of the Third Extension Fee, Fourth Extension Fee or Fifth Extension Fee released in consideration of extending the Closing Date shall not be credited towards the Purchaser Price at Closing).” (cb) Exhibit E which is attached hereto is added as a new Exhibit E to the Agreement and is titled “"Nonrefundable Deposit Schedule, Extension and Final Payments.” " For the avoidance of doubt, among other things, Exhibit E reflects (i) a deposit summary with respect to the Xxxxxxx Money and portions thereof constituting the Nonrefundable Deposit, (ii) the final payments due to Seller at transaction close (which amounts do not include the undisbursed $50,000 Xxxxxxx Money), (iii) Purchaser extension options, and (iv) an increase in the Purchase Price for the $25,000 signing deposit and Extension Fees, with a corresponding credit against such increased price for the signing deposit and extension payments paid by Buyer.

Modification to Agreement. (a) The second to last sentence of Section 4(b) of the Agreement is hereby deleted in its entirety and replaced with the following two sentencesfollowing: "No later than September 24“On or before December 28,2022, 2023, if Purchaser desires to extend the Entitlement Period for an additional period through October 24, 2023provided this Agreement has not been terminated, Purchaser shall provide written notice to Seller and wire to Seller One deposit with Escrow Agent the additional sum of Three Hundred Thousand and 00/100 Dollars ($100,000.00300,000.00) (the “First Extension FeeAdditional Deposit”), in consideration of the first extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section 17(b) due to an uncured default by Seller under this Agreement. No later than October 24, 2023, if Purchaser desires to extend the Entitlement Period for an additional period, through November 24, 2023, Purchaser shall provide written notice to Seller and wire to Seller One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Second Extension Fee”, and together with the First Extension Fee, the “Extension Fees”), in consideration of the second extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section l 7(b) due to an uncured default by Seller under this Agreement. (b) The proviso in fourth sentence of Section 10(a)(ii5(b) of the Agreement is hereby deleted in its entirety and replaced with the following: “provided, that, the Closing Date shall be scheduled no later than October 24, 2023 or, Purchaser acknowledges and agrees that (i) if commencing on the first extension day of the Entitlement Period is exercised(i.e., November 2328, 20232022), Twenty Five Thousand and No/100 Dollars (ii$25,000.00) if the second extension of the Entitlement Period is exercised, December 22, 2023.” (c) Exhibit E which is attached hereto is added as a new Exhibit E to the Agreement and is titled “Nonrefundable Deposit Schedule, Extension and Final Payments.” For the avoidance of doubt, among other things, Exhibit E reflects (i) a deposit summary with respect to the Xxxxxxx Money shall be non-refundable to Purchaser and portions thereof constituting the Nonrefundable Depositshall be released by Escrow Agent to Seller, (ii) 30 days thereafter (i.e., on December 28, 2022), if Purchaser has not previously terminated this Agreement, an additional One Hundred Thousand and No/100 Dollars ($100,000.00) of the final payments due Xxxxxxx Money shall be non-refundable to Seller at transaction close (which amounts do not include $50,000 Xxxxxxx Money)Purchaser and shall be released by Escrow Agent to Seller, (iii) 30 days thereafter (i.e., on January 27, 2023), if Purchaser extension optionshas not previously terminated this Agreement, an additional Twenty Five Thousand and No/100 Dollars ($25,000.00) of the Xxxxxxx Money shall be non-refundable to Purchaser and shall be released by Escrow Agent to Seller, and (iv) every 30 days thereafter, if Purchaser has not previously terminated this Agreement, an increase in additional Fifty Thousand and No/100 Dollars ($50,000.00) of the Xxxxxxx Money shall be non-refundable to Purchaser and shall be released by Escrow Agent to Seller until all Xxxxxxx Money on deposit has been released to Seller (all such releases of the Xxxxxxx Money referred to as the “Nonrefundable Deposit”), provided that Seller shall be required to return the Nonrefundable Deposit to Purchaser if this Agreement is terminated by Purchaser pursuant to Section 11, Section 17(b), Section 17 (c), or Section 20; the Nonrefundable Deposit, together with the rest of the Xxxxxxx Money, if any, shall be credited against the Purchase Price for the $25,000 signing deposit and Extension Fees, with a corresponding credit against such increased price for the signing deposit and extension payments paid by Buyerat Closing.”

Modification to Agreement. (a) The second to last sentence of Section 4(b) of the Agreement is hereby deleted in its entirety and replaced with the following two sentences: "No later than September 24, 2023, if Purchaser desires to extend the Entitlement Period for an additional period through October 24, 2023, Purchaser shall provide written notice to Seller and wire to Seller One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “" First Extension Fee”"), in consideration of the first extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section 17(b) due to an uncured default by Seller under this Agreement. No later than October 24November 6, 2023, if Purchaser desires to extend the Entitlement Period for an additional period, through November 24December 15, 2023, Purchaser shall provide written notice to Seller and wire to Seller One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “the" Second Extension Fee”, " and together with the First Extension Fee, Third Extension Fee (as defined in Section 10(a) and Fourth Extension Fee (as defined in Section 10(a), the “"Extension Fees”")), in consideration of the second extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section l 7(b17(b) due to an uncured default by Seller under this Agreement.” (b) The proviso in Section 10(a)(ii10(a) of the Agreement is hereby deleted in its entirety and replaced with amended by adding the followingfollowing language at the end of such Section: “providedNotwithstanding anything herein to the contrary, thatPurchaser shall have the option to extend the Closing Date if no later than December 15, 2023, Purchaser deposits with Escrow Agent an amount of Three Hundred Seventy Five Thousand and 00/100 Dollars ($375,000.00) (such amount the “Third Extension Fee”), and if no such deposit is made the Closing Date must remain December 22, 2023. On or prior to December 15, 2023 Purchaser shall provide written notice to Seller and Escrow Agent of its intent to deposit the Third Extension Fee. Once the Third Extension Fee is made, (i) on December 15, 2023, One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00) of the Third Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be scheduled extended to January 25, 2024, (ii) unless Purchaser has provided written notice to Seller that Purchaser intends to close by the then-applicable closing date, on January 12, 2024, One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00) of the Third Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to February 29, 2024, and (iii) unless Purchaser has provided written notice to Seller that Purchaser intends to close by the then-applicable closing date, on February 16, 2024, One Hundred Twenty Five Thousand and No/100 Dollars ($125,000.00) of the Third Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to March 28, 2024. Purchaser shall have the option to further extend the Closing Date if no later than October 24March 15, 2023 or2024, Purchaser deposits with Escrow Agent an amount of Four Hundred Fifty Thousand and 00/100 Dollars ($450,000.00) (such amount the “Fourth Extension Fee”), and if no such deposit is made the Closing Date must remain March 28, 2024. On or prior to March 15, 2024 Purchaser shall provide written notice to Seller and Escrow Agent of its intent to deposit the Fourth Extension Fee. Once the Fourth Extension Fee is made, (i) if the first extension of the Entitlement Period is exercised, November 23on March 15, 2023, One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) of the Fourth Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to April 26, 2024, (ii) if unless Purchaser has provided written notice to Seller that Purchaser intends to close by the second extension then-applicable closing date, on April 12, 2024, One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) of the Entitlement Period Fourth Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended for to May 31, 2024, and (iii) unless Purchaser has provided written notice to Seller that Purchaser intends to close by the then-applicable closing date, on May 17, 2024, One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) of the Fourth Extension Fee shall be released by Escrow Agent to Seller and on such release the Closing Date shall be extended to June 28, 2024. Notwithstanding the foregoing, Seller shall be required to return the Third Extension Fee and/or Fourth Extension Fee, as applicable, to Purchaser if this Agreement is exercisedterminated by Purchaser pursuant to Section 11, December 22Section 17(b), 2023or Section 17 (c); If the Closing is not consummated due to the actions or inactions of the Purchaser, any portion of the Third Extension Fee proceeds or Fourth Extension Fee proceeds, as applicable, not yet released to the Seller shall then be deemed earned in full by Seller and such amounts shall be released to the Seller by Escrow Agent. If the Closing is consummated and there remains Third Extension Fee proceeds or Fourth Extension Fee proceeds, as applicable, such amounts may be credited from escrow towards the Purchase Price at the Closing (for the avoidance of doubt, any portion of the Third Extension Fee and/or Fourth Extension Fee released in consideration of extending the Closing Date shall not be credited towards the Purchaser Price at Closing).” (c) Exhibit E which is attached hereto is added as a new Exhibit E to the Agreement and is titled “"Nonrefundable Deposit Schedule, Extension and Final Payments.” " For the avoidance of doubt, among other things, Exhibit E reflects (i) a deposit summary with respect to the Xxxxxxx Money and portions thereof constituting the Nonrefundable Deposit, (ii) the final payments due to Seller at transaction close (which amounts do not include the undisbursed $50,000 Xxxxxxx Money), (iii) Purchaser extension options, and (iv) an increase in the Purchase Price for the $25,000 signing deposit and Extension Fees, with a corresponding credit against such increased price for the signing deposit and extension payments paid by BuyerXxxxx.

Modification to Agreement. (a) The second to last sentence of Section 4(b) of the Agreement is hereby deleted in its entirety and replaced with the following two sentencesfollowing: "No later than September 24, 2023, if Purchaser desires to extend the Entitlement Period for an additional period through October 24“On or before January 10, 2023, Purchaser shall provide written notice to Seller and wire to Seller deposit with Escrow Agent the additional sum of One Hundred Fifty Thousand and 00/100 Dollars ($100,000.00150,000.00) (the “First Extension FeeAdditional Deposit”), in consideration of the first extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section 17(b) due to an uncured default by Seller under this Agreement. No later than October 24on or before March 28, 2023, if Purchaser desires to extend the Entitlement Period for an additional period, through November 24, 2023provided this Agreement has not been terminated, Purchaser shall provide written notice to Seller and wire to Seller deposit with Escrow Agent the additional sum of One Hundred Fifty Thousand and 00/100 Dollars ($100,000.00150,000.00) (the “Second Extension FeeAdditional Deposit”). If and when deposited, and together with the First Extension Fee, Additional Deposit and the “Extension Fees”), in consideration Second Additional Deposit shall become part of the second extension of the Entitlement Period, which fee shall be earned in full and non-refundable in all events once paid to Seller except in the event of termination of this Agreement by Purchaser in accordance with the provisions of Section l 7(b) due to an uncured default by Seller under this AgreementXxxxxxx Money. (b) The proviso in fourth sentence of Section 10(a)(ii5(b) of the Agreement is hereby deleted in its entirety and replaced with the following: “provided, that, the Closing Date shall be scheduled no later than October 24, 2023 or, Purchaser acknowledges and agrees that (i) if commencing on the first extension day of the Entitlement Period is exercised(i.e., November 2328, 2022), Twenty Five Thousand and No/100 Dollars ($25,000.00) of the Xxxxxxx Money shall be non-refundable to Purchaser and shall be released by Escrow Agent to Seller, (ii) on January 10, 2023, an additional One Hundred Thousand and No/100 Dollars ($100,000.00) of the Xxxxxxx Money shall be non-refundable to Purchaser and shall be released by Escrow Agent to Seller (in signing this Amendment, both Parties agree for the $100,000 non-refundable Xxxxxxx Money to be released to the Seller), (iii) on January 27, 2023, if Purchaser has not previously terminated this Agreement, an additional Twenty Five Thousand and No/100 Dollars ($25,000.00) of the Xxxxxxx Money shall be non-refundable to Purchaser and shall be released by Escrow Agent to Seller, and (iiiv) every 30 days thereafter, if the second extension Purchaser has not previously terminated this Agreement, an additional Fifty Thousand and No/100 Dollars ($50,000.00) of the Entitlement Period Xxxxxxx Money shall be non-refundable to Purchaser and shall be released by Escrow Agent to Seller until all Xxxxxxx Money on deposit has been released to Seller (all such releases of the Xxxxxxx Money referred to as the “Nonrefundable Deposit”), provided that Seller shall be required to return the Nonrefundable Deposit to Purchaser if this Agreement is exercisedterminated by Purchaser pursuant to Section 11, December 22Section 17(b), 2023Section 17 (c), or Section 20; the Nonrefundable Deposit, together with the rest of the Xxxxxxx Money, if any, shall be credited against the Purchase Price at Closing.” (c) Exhibit E which is attached hereto is added as a new Exhibit E to the Agreement and is titled “Nonrefundable Deposit Schedule, Extension and Final Payments.” For the avoidance of doubt, among other things, Exhibit E reflects (i) a deposit summary with respect to the Xxxxxxx Money and portions thereof constituting the Nonrefundable Deposit, (ii) Deposit as well as the final payments due to Seller at transaction close (which amounts do not include $50,000 Xxxxxxx Money), (iii) and Purchaser extension options, and (iv) an increase in the Purchase Price for the $25,000 signing deposit and Extension Fees, with a corresponding credit against such increased price for the signing deposit and extension payments paid by Buyeroption.