The Addendum To Purchase Agreement Form serves as a critical tool when parties need to modify their original purchase agreement without creating an entirely new contract. This document is commonly used when circumstances change after the initial agreement, such as price adjustments, delivery modifications, or additional terms. Under U.S. contract law, it must be executed with the same formality as the original agreement and clearly reference the original contract being modified. The addendum becomes legally binding once all parties sign it and becomes an integral part of the original purchase agreement.
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1. Parties: Identification of all parties involved in the original purchase agreement and addendum
2. Background: Reference to original purchase agreement, including date and purpose of the addendum
3. Definitions: Key terms used in the addendum, including references to definitions in original agreement
4. Modifications: Specific changes, additions, or deletions to the original purchase agreement
5. Effect on Original Agreement: Statement confirming all other terms of original agreement remain in full force and effect
6. Execution: Signature blocks and date of addendum execution
1. Additional Terms: New terms not covered in original agreement - use when introducing completely new provisions
2. Price Adjustments: Changes to original purchase price - use when modifying financial terms
3. Timeline Modifications: Changes to dates or deadlines - use when altering original schedule or timeframes
4. Contingencies: New or modified conditions that must be met - use when adding or changing conditional terms
1. Schedule A - Modified Terms: Detailed listing of specific modifications to original agreement
2. Schedule B - Revised Pricing: Updated pricing details if applicable
3. Schedule C - Updated Timeline: Revised dates and deadlines if applicable
4. Appendix 1 - Supporting Documentation: Any additional documents supporting the modifications
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