Note Modification Agreement between Precision Opinion, Inc. and Michael France

Contract Categories: Business Finance › Modification Agreements
Summary

Precision Opinion, Inc. and Michael France have agreed to modify the terms of an $800,000 promissory note originally dated October 20, 2016. The main change is extending the maturity date for repayment from October 19, 2017, to December 31, 2019. All other terms of the original note remain unchanged. This agreement ensures that Precision has additional time to repay the loan in full to Michael France.

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EX-10.5 10 ex10-5.htm

 

NOTE MODIFICATION AGREEMENT

 

This Note Modification Agreement (“Agreement”) is made and entered into on _____ September, 2017 by and between Precision Opinion, Inc. (“Precision”) and Michael France (“France”).

 

RECITALS

 

WHERAS, Precision executed and delivered to France a promissory note dated October 20, 2016 in the principal amount of $800,000.00, a copy of which is attached as Exhibit “A” and incorporated herein by reference (“Promissory Note”); and,

 

WHEREAS, the Promissory Note provided for a maturity date of October 19, 2017.

 

NOW, THEREFORE, in consideration of mutual covenants and agreements herein contained, Precision and France agree as follows:

 

  1. The principal amount as of the date of this Agreement owed on the Promissory Note is $800,000.00.
  2. The maturity date of the Promissory Note is modified to provide that the entire principal amount outstanding shall be due and payable in full on December 31, 2019.
  3. In all other respects, the Promissory Note remains in full force and effect as originally signed.

 

Precision Opinion, Inc.   Michael France
     
     
James T. Medick   Michael France
President