MODIFICATION AGREEMENT TO PROMISSORY NOTE
EX-10.5 2 imci_105.htm AMENDMENT TO PROMISSORY NOTE BETWEEN THE COMPANY AND UBERSCAN, LLC, DATED APRIL 6, 2015 imci_105.htm
/s/ James Villa
Exhibit 10.5
MODIFICATION AGREEMENT TO
PROMISSORY NOTE
This MODIFICATION AGREEMENT is made as of April 6, 2015 between Infinite Group, Inc., a Delaware corporation with offices at 80 Office Park Way, Pittsford, NY 14534 (“Maker”) and UberScan, LLC (“Payee”).
WHEREAS, Payee is the holder of a Promissory Notes dated issued by the Maker to the Payee for $80,000 with interest at 10% commencing on April 7, 2015 (the Note); and
WHEREAS, the parties desire to modify the terms and conditions of the Promissory Note as follows:
NOW, THEREFORE, the parties agree as follows:
| 1) | The Note is modified to provide that the time at which the entire principal balance and accrued and unpaid interest shall be due and payable is October 7, 2015. |
| 2) | Except as modified by this Agreement, all of the terms, covenants and conditions of the Note shall remain the same. |
In witness whereof, Maker and Payee have executed this Agreement under the day and year first written above.
Infinite Group, Inc.
/s/ James Villa
By: James Villa, President
UberScan, LLC
/s/ Christopher B. Karr
By: Christopher B. Karr, President
