MODIFICATION AGREEMENT TO PROMISSORY NOTE
Exhibit 10.5
MODIFICATION AGREEMENT TO
PROMISSORY NOTE
This MODIFICATION AGREEMENT is made as of April 6, 2015 between Infinite Group, Inc., a Delaware corporation with offices at 00 Xxxxxx Xxxx Xxx, Xxxxxxxxx, XX 00000 (“Maker”) and UberScan, LLC (“Payee”).
WHEREAS, Payee is the holder of a Promissory Notes dated issued by the Maker to the Payee for $80,000 with interest at 10% commencing on April 7, 2015 (the Note); and
WHEREAS, the parties desire to modify the terms and conditions of the Promissory Note as follows:
NOW, THEREFORE, the parties agree as follows:
1)
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The Note is modified to provide that the time at which the entire principal balance and accrued and unpaid interest shall be due and payable is October 7, 2015.
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2)
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Except as modified by this Agreement, all of the terms, covenants and conditions of the Note shall remain the same.
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In witness whereof, Maker and Payee have executed this Agreement under the day and year first written above.
Infinite Group, Inc.
/s/ Xxxxx Xxxxx
By: Xxxxx Xxxxx, President
UberScan, LLC
/s/ Xxxxxxxxxxx X. Xxxx
By: Xxxxxxxxxxx X. Xxxx, President