ADDENDUM TO GRANT OF LAND CONTRACT
This Addendum to Grant of Land Contract (the “Agreement”) is made and entered into on
[insert date] by and between COOPERATIVE BIO AGRO. (“Landlord”), with offices located
at Madingou Poste, Madingou’s District, Bouenza’s Department; and AFRICA TRADE
GROUP, LLC, with its principal place of business located at 5008 Bridgewood Drive,
Durham NC 27713, USA (“Company/ User of the land”). Landlord and Company shall
hereinafter collectively be referred to as the “parties” and generically as a “party.”
1. Amendment. This Agreement amends and modifies that certain Grant of Land
Contract (“Grant of Land Contract”) dated 24 th of September, 2020 made and
entered into by the parties hereto as follows:
i. Clause 2 of the Grant of Land Agreement is amended to increase the size of
the land granted to the company by the landlord from 2000 hectares to 5000
hectares.
ii. Clause 6 of the Grant of Land Agreement is hereby amended to extend the
validity of the contract from 50 years to 99 years.
2. Simultaneous with the execution of this Aaddendum, Landlord shall grant the
Company unlimited access to use the additional 3000 hectares.
3. Effect of this Addendum. This Addendum is entered into to supplement and modify
the Grant of Land Contract. Except as supplemented and/or modified hereby, the
Grant of Land Contract remains in full force and effect and shall continue to be
effective and enforceable in accordance with its terms
4. Waiver. Any term or condition of this Addendum may be waived at any time by the
Party that is entitled to the benefit thereof, but no such waiver shall be effective
unless set forth in a written instrument duly executed by or on behalf of the Party
waiving such term or condition. No waiver by any Party of any term or condition of
this Addendum, in any one or more instances, shall be deemed to be or construed as
a waiver of the same or any other term or condition of this Addendum on any future
occasion.
5. Amendment. This Addendum may be amended, supplemented, or modified only by
a written instrument duly executed by or on behalf of each Party hereto.
6. Counterparts. This Addendum may be executed in any number of counterparts,
each of which will be deemed an original, but all of which together will constitute one
and the same instrument.
7. Exercise of Rights. A Party may exercise a right, power, or remedy at its discretion,
and separately or concurrently with another right, power or remedy. A single or partial
exercise of a right, power, or remedy by a Party does not prevent a further exercise
of that or of any other right, power, or remedy. Failure by a Party to exercise or delay
in exercising a right, power, or remedy does not prevent its exercise. The rights,
powers, and remedies provided in this Addendum are cumulative with and not
exclusive of the rights, powers, or remedies provided by law independently of this
Addendum.
8. Governing Law. This Addendum shall be construed in accordance with and
governed by the laws as provided in Clause 7 of the Grant of Land Agreement.
9. Severability. If any provision of this Addendum shall be invalid or unenforceable,
such invalidity or unenforceability shall not render the entire Addendum invalid.
Rather, the Addendum shall be construed as if not containing the particular invalid or
unenforceable provision, and the rights and obligations of each Party shall be
construed and enforced accordingly.
10. Amendment. This Addendum may only be amended by a written agreement
executed by both Parties.
IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written
above.
EXECUTED on behalf of The Landlord:
XXXX
Signature
………………………………………….
XXX, MD
EXECUTED on behalf of The Company:
AFRICAN TRADE GROUP, LLC
Signature
……………………………………….
XXX, PRESIDENT
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