Amendment to Promissory Note between the Company and Northwest Hampton Holdings, LLC dated December 31, 2015* (FILE)
EX-10.41 2 imci_ex1041.htm AMENDMENT TO PROMISSORY NOTE BETWEEN THE COMPANY AND NORTHWEST HAMPTON HOLDINGS, LLC DATED DECEMBER 31, 2015 Blueprint
MODIFICATION AGREEMENT No. 4 TO
This MODIFICATION AGREEMENT is made as of December 31, 2015 between Infinite Group, Inc., a Delaware corporation with offices at 80 Office Park Way, Pittsford, NY 14534 (“Borrower”) and Northwest Hampton Holdings, LLC, a New York limited liability company with an address at 308 Rock Beach Road, Rochester, NY 14617 (“Lender”).
WHEREAS, the Borrower has issued to Lender a note in the principal amount of $203,323.70 dated December 31, 2003, which note has a balance of $146,300 at December 31, 2015 (the “NWHH Note”); and
WHEREAS, the parties desire to modify the terms and conditions of the NWHH Note as follows:
NOW, THEREFORE, the parties agree as follows:
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 January 1, 2017.
Except as modified by this Agreement, all of the terms, covenants and conditions of the Notes shall remain the same.
In witness whereof, Borrower and Lender have executed this Agreement under the day and year first written above.
INFINITE GROUP, INC.
___/s/ James Witzel_________________________________
By: James Witzel, Chief Financial Officer
NORTHWEST HAMPTON HOLDINGS, LLC
__/s/ James A. Villa_______________________________
By: James A. Villa, President