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Addendum To Purchase And Sale Agreement
"I need an Addendum to Purchase and Sale Agreement to modify the closing date of our commercial property purchase to March 15, 2025, and adjust the purchase price from 25 million to 28 million Philippine Pesos due to additional land area included in the sale."
1. Parties: Identification of all parties to the original Purchase and Sale Agreement, including their complete legal names, addresses, and tax identification numbers as required under Philippine law
2. Background: Reference to the original Purchase and Sale Agreement, including its execution date and brief description of why this addendum is necessary
3. Definitions: Key terms used in the addendum, particularly any new terms not defined in the original agreement
4. Amendments: Specific modifications to the original agreement, clearly identifying which sections are being amended, deleted, or added
5. Effect on Original Agreement: Statement confirming that all other provisions of the original agreement remain in full force and effect except as specifically modified by this addendum
6. Integration: Clause stating that this addendum forms an integral part of the original Purchase and Sale Agreement
7. Governing Law: Confirmation that the addendum is governed by Philippine law, consistent with the original agreement
8. Execution: Signature blocks for all parties, including spaces for witnesses and notarization as required under Philippine law
1. Additional Representations and Warranties: Include when new representations or warranties are required specific to the modifications being made
2. Price Adjustment: Include when the addendum involves changes to the purchase price or payment terms
3. Timeline Modification: Include when changing any dates or deadlines from the original agreement
4. Property Description Update: Include when modifying any aspects of the property description or included items
5. Conditions Precedent: Include when adding new conditions that must be met before certain obligations take effect
6. Tax Provisions: Include when modifications affect the tax treatment or tax responsibilities of the parties
7. Force Majeure Update: Include when modifying force majeure provisions in light of new circumstances
1. Schedule A - Modified Terms: Detailed listing of specific terms being modified from the original agreement
2. Schedule B - Revised Payment Schedule: If applicable, updated payment terms or schedule
3. Schedule C - Modified Property Details: If applicable, updated property specifications or inventory
4. Appendix 1 - Required Government Approvals: List of any new or modified government approvals needed due to the changes
5. Appendix 2 - Supporting Documents: Any additional documents referenced in the addendum or required to support the modifications
Authors
Addendum
Effective Date
Amended Closing Date
Modified Purchase Price
Seller
Buyer
Property
Additional Deposit
Adjusted Payment Schedule
Modified Terms
Surviving Provisions
Amendment Date
Business Day
Closing
Modified Conditions Precedent
Documentary Requirements
Due Diligence Period
Escrow Agent
Government Authority
Modified Representations
New Warranties
Notarial Acknowledgment
Parties
Payment Terms
Property Documents
Registration Requirements
Revised Closing Conditions
Tax Obligations
Title Documents
Transfer Date
Unmodified Terms
Recitals
Definitions
Amendment Purpose
Modification
Purchase Price Adjustment
Payment Terms
Closing Conditions
Property Description
Title and Registration
Representations and Warranties
Conditions Precedent
Due Diligence
Tax Provisions
Compliance with Law
Force Majeure
Notice Requirements
Assignment
Integration
Severability
Governing Law
Dispute Resolution
Amendment and Waiver
Counterparts
Notarization
Entire Agreement
Survival
Further Assurance
Real Estate
Commercial Property
Residential Property
Industrial
Manufacturing
Retail
Hospitality
Office Space
Agriculture
Infrastructure
Mining
Construction
Legal
Real Estate
Finance
Compliance
Operations
Risk Management
Corporate Secretariat
Business Development
Acquisitions
Asset Management
Legal Counsel
Corporate Lawyer
Real Estate Manager
Property Manager
Chief Financial Officer
Business Development Manager
Contract Administrator
Compliance Officer
Real Estate Director
Acquisitions Manager
Asset Manager
Transaction Manager
Corporate Secretary
Risk Manager
Operations Director
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