ADDENDUM TO PURCHASE AND SALE AGREEMENT - DOC by by654321

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									                  ADDENDUM TO PURCHASE AND SALE AGREEMENT

This Addendum to the Purchase and Sale Agreement (the “Addendum”) is made by and between
Zachary Medin (the “Seller”) and Moises Ochoa and Ofelia Rojas (“Buyers”).

                                            WITNESSETH:

WHEREAS, Seller and Buyers entered into a Purchase and Sale Agreement dated August 31,
2009 (hereinafter referred to as the “Purchase Agreement”) , whereby Seller agreed to sell, and
Buyers agreed to buy, certain real property situated at 574 Nelson Road, Town of Danby,
Tompkins County, New York, as more particularly described in the Purchase Agreement; and

WHEREAS, in order to facilitate such exchange, Seller and Buyer desire to modify the Purchase
Agreement as herein set forth.

NOW, THEREFORE, in consideration of the promises and the mutual covenants and
agreements herein set forth, and upon the exchange of good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged by the Seller and Buyer, the Seller and
Buyer agree as follows:

1.      Paragraph 3 of the Purchase Agreement shall be modified as follows:

PRICE AND METHOD OF PAYMENT          The Purchase Price is                                    $200,000.00
TWO HUNDRED THOUSAND and 00/100 DOLLARS

(A) BUYER’S DEPOSIT BUYER has given                                                             $500.00
FIVE HUNDRED and 00/100 DOLLARS to THALER and THALER, escrow agent,
who shall either deposit it at HSBC Bank in an escrow account upon acceptance as part
of the purchase price, or return it to BUYER if the offer is not accepted. The deposit will
also be returned if this contract thereafter is declared null and void.

Paragraphs B, C and D apply when filled in.

(B.) MORTGAGE CONTINGENCY             This offer is subject to BUYER receiving a written
Mortgage or financing commitment by September 30, 2009 first mortgage loan of            $130,000.00
with interest at prevailing rate, but not more than 6.5%. BUYER agrees to make
application, in good faith, within 5 business days after acceptance of this offer and to
diligently process the same. In the event that BUYER is unable to secure a commitment
of said mortgage loan, this contract shall become null and void and the deposit will be
refunded.
(C.) OWNER FINANCING BUYER will give to SELLER a (first) (second) purchase money
bond and mortgage upon said real property, in customary form, prepared by SELLER’S
attorney in the amount of : not applicable.




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(D.)     OTHER         The Seller, who is the nephew-in-law of the               Buyers,   is
$70,000
giving a gift of equity to the Buyers at closing in the amount of $70,000
(Seventy Thousand and 00/100 Dollars US) to be applied to the purchase price.

(E.) BALANCE Balance of Purchase Price                                              -$500.00


TOTAL PAYMENT                                                                   $200,000.00



2.     Except as provided herein, all of the terms and provisions of the Purchase Agreement
       shall remain unmodified an in full force and effect.




Seller and Buyer have caused this Addendum to be duly executed as of the ___day of September,
2009.




______________________________                     ____________________________
Zachary Medin                                      Date




______________________________                     ____________________________
Moises Ochoa                                       Date




_______________________________                    ____________________________
Ofelia Rojas                                       Date




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