ADDENDUM TO PROPERTY PURCHASE AND SALE AGREEMENT
This Addendum to Property Purchase and Sale Agreement (the “Agreement”) is made and
entered into on [insert date] by and between [insert the name of the owner] (“Seller”), whose
address for the purposes of this agreement is XXX; and
[insert your name], whose address for the purpose of this agreement is [insert your address].
(“Buyer”). Seller and Buyer shall hereinafter collectively be referred to as the “parties” and
generically as a “party.”
1. Addendu,. This Agreement amends and modifies that certain Property Purchase and
Sale Agreement (“Property Purchase and Sale Agreement”) attached herewith as
Exhibit 1 to this Agreement, made and entered into by the parties hereto as follows:
i. That by signing this Addendum, the Seller hereby grants the Buyer an exclusive
negotiation period during which time the Buyer can inspect the said property
home, at the Buyer’s cost; and
ii. That by signing this addendum, the parties agree that the Seller can back out of
the Property Purchase and Sale agreement. The parties agree that in the unlikely
event that the Buyer decides to back out of the agreement for good reason, the
Seller shall refund the $1,000 deposit already paid.
2. Effect of this Addendum. This Addendum is entered into to supplement the Property
Purchase and Sale Agreement. Except as supplemented hereby, the Property Purchase
and Sale Agreement remains in full force and effect and shall continue to be effective
and enforceable in accordance with its terms.
3. 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.
4. Amendment. This Addendum may be amended, supplemented, or modified only by a
written instrument duly executed by or on behalf of each Party hereto.
5. 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.
6. 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.
7. Governing Law. This Addendum shall be construed in accordance with and governed
by the laws as provided in the Property Purchase and Sale Agreement.
8. 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.
9. 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 by Seller [INSERT NAME OF THE
SELLER]:
EXECUTED by buyer [INSERT NAME OF THE
BUYER]:
Signature
………………………………………….
[INSERT NAME OF THE
SELLER]
Signature
………………………………………….
[INSERT NAME OF THE
BUYER]
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