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Addendum to Agreement of Sale (where the purchaser is a company or close corporation to be formed) between (the “Seller “) and (the “Purchaser “) in respect of (the “Property “) The Sale

How to fill out addendum to agreement of

Point by point instructions on how to fill out an addendum to an agreement:

1. Begin by reviewing the original agreement: Before filling out the addendum, carefully read and understand the terms and conditions of the original agreement that the addendum will modify or amend. It's important to know exactly what changes need to be made.
2. Identify the purpose of the addendum: Determine the specific reason why the addendum is required. This could be due to changes in circumstances, additional terms that need to be included, or any other modifications to the original agreement.
3. Include the necessary information: In the addendum, clearly state the parties involved in the agreement and provide their full legal names, addresses, and contact information. This ensures that the addendum is legally binding and easily identifiable.
4. Clearly specify the modifications or amendments: Clearly and concisely state each modification or amendment that needs to be made to the original agreement. Include specific language and be as detailed as possible to avoid any confusion or misinterpretation.
5. Date and sign the addendum: Both parties involved in the agreement must accurately date and sign the addendum. This signifies their agreement to the changes outlined in the addendum and makes it legally binding.

Who needs an addendum to an agreement?

1. Individuals or businesses entering into a contract: If either party wishes to modify or amend the terms of an existing agreement, they may need to draft and fill out an addendum.
2. Changing circumstances or legal requirements: If the circumstances or legal requirements surrounding the original agreement have changed, it may be necessary to attach an addendum to address these changes.
3. Mutual agreement between parties: Both parties involved in the original agreement must agree to the changes outlined in the addendum for it to be valid. Therefore, an addendum is needed when both parties consent to modify or add to the terms of the agreement.

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