Draft for discussion — not for signature until both parties agree
Addendum to Purchase Contract
Price · Seller Carry · Balloon (simple one-page draft)
Property: 1001 W 1st St, Muncie, IN 47305 |
Seller: James Bogash |
Buyer: Goldpine Ventures, LLC
Contract Effective Date: July 17, 2026 |
Draft date: August 6, 2026
This draft Addendum amends the Purchase Contract and Escrow Instructions between Seller and Buyer for the Property (the “Contract”) and the seller-carry note described in the Contract. Electronic / counterpart signatures are fine on a final signed version. This draft is not signed and is not binding.
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Purchase price. The Purchase Price is changed to $80,000 (from $105,000).
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How it is paid.
| Item | Amount |
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| Cash to Seller at closing (Deposit + cash at COE, same as before) | $6,000 |
| Seller carry note principal | $74,000 |
| Total purchase price | $80,000 |
The full $25,000 reduction is on the note principal only. Cash to Seller stays $6,000 (subject only to normal closing prorations).
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Seller note (unchanged rate and payment).
Note principal $74,000 · interest 2% per year · monthly payment $500 (principal and interest) · 84 monthly payments then balance due (balloon), unless extended under §4 or prepaid. Buyer may prepay anytime with no penalty. Closing will attach a short amortization schedule that matches these terms.
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Balloon extension (while current).
If Buyer is not in default and all $500 payments are current, Buyer may extend the balloon due date by successive 12-month periods. For each extension, Buyer must give Seller written notice at least 60 days before the then-current balloon date. During any extension: rate stays 2%, payment stays $500, prepay still allowed. If Buyer does not extend on time or falls behind, the balance is due on the then-current balloon date.
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Brokerage / commission.
This Addendum does not change any listing or broker fee. That stays as already agreed among Seller, Buyer, and any broker, unless they sign something separate later.
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Everything else stays the same.
Except as stated above, the Contract remains in full force. If this Addendum conflicts with the Contract on price, cash to Seller, note principal, payment, rate, or balloon extension, this Addendum controls once signed.
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SELLER (on final only)
Signature
Print: James Bogash
Date:
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BUYER — Goldpine Ventures, LLC (on final only)
Signature
Print: Benjamin Noah, Authorized Representative
Date:
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