Addendum #1 to the Settlement Agreement Between ActiveCare, Inc. and Bluestone Advisors Dated September 23, 2015
Exhibit 10.6
Addendum #1 to the Settlement Agreement
Between ActiveCare, Inc. and Bluestone Advisors
Dated September 23, 2015
On this day of February 16, 2016, this Addendum#1 associated with the Settlement Agreement dated September 23, 2015 by and between ActiveCare, Inc. (Borrower) and Bluestone Advisors (Lender) is agreed to be altered in the following to points:
1)
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Lender agrees to subordinate said debt to PFG;
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3)
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Should the Borrower be unable to make agreed upon payment of such notes to Lender on January 1, 2017 because of PFG unwillingness, inability due to cash position, or unwillingness for reasons unknown at this time, then penalty shares shall be issued amounting to 4,477,780 within 10 business days after such time.
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It is noted that the outstanding principal and interest of said notes associated with the Settlement Agreement dated September 23, 2015 as of this day of February 16, 2016 is $3,302,363.10. Further, all covenants, collateral, provision, definitions, and in summary, all items contained within the agreements are unchanged and are in full force and effect with the exception of Paragraphs 1, 2 and 3 provided above in Addendum #1.
Borrower: ACTIVECARE, INC.
A Delaware Corporation
By _______________________________
Xxxxx Xxxxxx, CEO
The Lender: Bluestone Advisors, LLC
By _______________________________
Xxxxxxx Xxxxxxxx, Manager