PROMISSORY NOTES
EXHIBIT
10.41
MODIFICATION AGREEMENT No. 4 TO
PROMISSORY
NOTES
This
MODIFICATION AGREEMENT is made as of December 31, 2015 between
Infinite Group, Inc., a Delaware corporation with offices at 00
Xxxxxx Xxxx Xxx, Xxxxxxxxx, XX 00000 (“Borrower”) and
Northwest Hampton Holdings, LLC, a New York limited liability
company with an address at 000 Xxxx Xxxxx Xxxx, Xxxxxxxxx,
XX 00000 (“Lender”).
WHEREAS,
the Borrower has issued to Lender a note in the principal amount of
$203,323.70 dated December 31, 2003, which note has a balance of
$146,300 at December 31, 2015 (the “NWHH Note”);
and
WHEREAS,
the parties desire to modify the terms and conditions of the NWHH
Note as follows:
NOW,
THEREFORE, the parties agree as follows:
1)
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
January 1, 2017.
2)
Except as modified
by this Agreement, all of the terms, covenants and conditions of
the Notes shall remain the same.
In
witness whereof, Borrower and Lender have executed this Agreement
under the day and year first written above.
INFINITE
GROUP, INC.
___/s/
Xxxxx Witzel_________________________________
By:
Xxxxx Xxxxxx, Chief Financial Officer
NORTHWEST
HAMPTON HOLDINGS, LLC
__/s/
Xxxxx X. Villa_______________________________
By:
Xxxxx X. Xxxxx, President
