An amendment to a contract of sale is a legal document that changes the terms that have already been agreed upon between two parties in a sales contract. A real estate sales contract is a good example where an amendment to a contract of sale may be used, but amendments can be made to any type of contract related to a potential purchase.
The most common reasons for amending a contract are because of unforeseen circumstances and changing conditions. For example, if there was a natural disaster that damaged the property being sold as part of the agreement, both parties would need to agree on how they will proceed with completing the transaction before signing off on any new amendments.
Below is a list of common sections included in Amendments To Contract Of Sale. These sections are linked to the below sample agreement for you to explore.
FIRST AMENDMENT
TO PURCHASE AND SALE CONTRACT
THIS FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT (this “First Amendment”) is entered into as of November 29, 2011 (the “Amendment Date”), by and between HCW Pension Real Estate Fund Limited Partnership , a Massachusetts limited partnership (“Seller”), and CDC-CARBONDALE, LLC, an Alabama limited liability company (“Purchaser”).
A. Seller and CAPSTONE DEVELOPMENT CORP., an Alabama corporation (“Original Purchaser”), entered into that certain Purchase and Sale Contract dated as of September 13, 2011, as assigned by Original Purchaser to Purchaser by that certain Assignment and Assumption of Purchase and Sale Contract dated as of November 29, 2011 (collectively, as assigned, the “Contract”) with respect to the sale of certain real property more particularly described in the Contract. (Any capitalized term used, but not otherwise defined herein, shall have the meaning set forth in the Contract.)
B. Purchaser and Seller desire to enter into this Amendment for the purpose of modifying certain terms set forth in the Contract.
NOW, THEREFORE, in consideration of Contract, the covenants, premises, agreements, and conditions contained in this First Amendment, and for other good and valuable consideration, the receipt, sufficiency, and adequacy of which are acknowledged, Seller and Purchaser agree as follows:
“5.1 Closing Date.
1. The Closing shall occur on December 29, 2011 or on such earlier date as the parties may mutually agree (the “Closing Date”) through an escrow with Escrow Agent, whereby Seller, Purchaser and their attorneys need not be physically present at the Closing and may deliver documents by overnight air courier or other means. Notwithstanding the foregoing to the contrary, Seller shall have the option, by delivering written notice to Purchaser, to extend the Closing Date to the last Business Day of the month in which the Closing Date otherwise would occur pursuant to the preceding sentence, in connection with Seller’s payment in full of the Note (the “Loan Payoff”).”
[Signature pages to follow]
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed and delivered as of the date first above written.
HCW Pension Real Estate Fund Limited Partnership , a Massachusetts limited partnership
By: HCW GENERAL PARTNER, LIMITED PARTNERSHIP, a Texas limited partnership, its general partner
By: IH, INC., a Delaware corporation,
its general partner
By: /s/Trent A. Johnson
Name: Trent A. Johnson
Title: Vice President
[SIGNATURES CONTINUED ON NEXT PAGE]
[SIGNATURES CONTINUED FROM PRECEDING PAGE]
CDC-CARBONDALE, LLC,
an Alabama limited liability company
By: Capstone Development Corp.,
an Alabama corporation, its Manager
By: /s/Michael A. Mouron
Name: Michael A. Mouron
Title: President
Reference:
Security Exchange Commission - Edgar Database, EX-10.8 2 hcwlewispark_ex108.htm EXHIBIT 10.8, Viewed October 12, 2021, View Source on SEC.
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