Amendment to Settlement Agreement dated April 10, 2019 between Maslow, Vivos Holdings, Silvija Valleru Naveen Doki in relation to default of Future Receivables Sales Agreement with Kinetic Direct Funding LLC
AMENDMENT TO STIPULATION OF SETTLEMENT AGREEMENT
This Amendment To Settlement Agreement (“Amendment”) as of April 10, 2019 (“Effective Date”), is entered into by and among Libertas Funding LLC located at 382 Greenwich Ave, Suite 2, Greenwich, CT 06830, and Kinetic Direct Funders located at 382 Greenwich Ave, Suite 2, Greenwich, CT 06830 (hereinafter “Funders”) and the following specific Merchants (hereinafter “Merchants”):
| a. | re: Judgement by Confession, Index No. 18814598, for the amount of $1,008,566.74 |
Naveen Doki
4902 Finchen Cr
Manassas, VA 20109
US IT Solutions, Inc
3031 Tisch Way
110 Plaza West, Ste 1098
San Jose, CA 95128
360 IT Professionals Inc.
5201 Great America Pkw, Ste 256
Santa Clara. CA 95054
| b. | re: Judgement by Confession, Index No. 18814435, for the amount of $579,259.30 |
Naveen Doki
4902 Finchen Cr, Manassas, VA 20109
The Maslow Media Group, Inc.
US IT Solutions, Inc.
360 IT Professionals
Alliance Micro, Inc.
all located at: 22 Baltimore Rd, Rockville, MD 20850
| c. | re: Judgement by Confession, Index No. 18814438, for the amount of $229,320.26 |
Silvija Valleru
6206 Colchester Rd, Fairfax, VA 22030
Alliance Micro Inc. Vivos IT, LLC
Vivos Global Services, LLC
Vivos Holdings, LLC
Vivos Acquisitions, LLC
Maslow Media Group, Inc.
all located at: 22 Baltimore Rd, Rockville, MD 20850
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| d. | re: Judgement by Confession, Index No. 18814597, for the amount of $229,320.26 |
Naveen Doki
4902 Finchen Cr, Manassas, VA 20109
Alliance Micro Inc.
Vivos IT, LLC
Vivos Global Services, LLC
Vivos Holdings, LLC
Vivos Acquisitions, LLC
Maslow Media Group, Inc.
all located at: 22 Baltimore Rd, Rockville, MD 20850
WHEREAS, Funders and Merchants previously entered into a Settlement Agreement dated 10/25/2018 (“Settlement Agreement”) regarding the above Judgments,
WHEREAS, Merchants failed to perform its obligations and breached the Settlement Agreement,
WHEREAS, as a result of the breach, Merchants are now in Default and subject to the Default provisions of the Settlement Agreement,
NOW THEREFORE, in consideration of the mutual covenants contained herein, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties to this Amendment (collectively, the “Parties” and each individually, a “Party”) agree as follows:
| 1. | This Amendment shall be only to the said Settlement Agreement and shall supersede and amend only the specific payments and dates thereof obligated. | |
| 2. | Parties agree that, subject to Merchants making all the revised payments below, in the manner articulated in the Settlement Agreement, Merchants will no longer be in Default, and Parties will remain bound by the other terms of the Settlement Agreement. |
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| 3. | The following $625,000 shall be paid by Merchants to Funders, by partial payment as detailed below (“Amended Future Payment Schedule”), which does not include or reflect payments already made under the Settlement Agreement: |
| April 15, 2019 | $ | 40,000 | ||
| May 15, 2019 | $ | 40,000 | ||
| June 15, 2019 | $ | 40,000 | ||
| July 15, 2019 | $ | 40,000 | ||
| August 15, 2019 | $ | 40,000 | ||
| September 15, 2019 | $ | 40,000 | ||
| October 15, 2019 | $ | 40,000 | ||
| November 15, 2019 | $ | 40,000 | ||
| December 15, 2019 | $ | 40,000 | ||
| January 15, 2020 | $ | 40,000 | ||
| February 15, 2020 | $ | 40,000 | ||
| March 15, 2020 | $ | 40,000 | ||
| April 15, 2020 | $ | 40,000 | ||
| May 15, 2020 | $ | 40,000 | ||
| June 15, 2020 | $ | 40,000 | ||
| July 15, 2020 | $ | 25,000 |
| 4. | This offer is only valid if executed by 5PM EST on 5/17/2019. |
Dated: 5/16/2019
| FOR MERCHANTS: | FOR FUNDERS: | |||
| BY: |  | BY: | ||
| 360 IT Solutions Inc/ US IT Solutions, Inc/ | David Epstein, Esq. | |||
| Alliance Micro, Inc./ Vivos IT, LLC/ | THE FASKOWITZ LAW FIRM, PLLC | |||
| Vivos Global Services, LLC/ Vivos Holdings, LLC/ Vivos Acquisitions, LLC/ Maslow Media Group, Inc. | As Attorneys for Funders 61-43 186 Street, Suite 207 Fresh Meadows, NY 11365 | |||
| (718) 407-2464 | ||||
| BY: |  | |||
| Silvija Valleru | ||||
| BY: |  | |||
| Naveen Doki | ||||
Please note that we are required, under Federal Law, to advise you that we are debt collectors and any
information we obtain will be used in attempting to collect this debt
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