This Amendment to Contract (the “Amendment”) is made and entered into as of the _______________ (date) by and between:

  1. [Buyer’s Full Legal Name], of _______________________________________________________ (address), a citizen of ___________________________________________ (“Buyer”), and
  2. [Seller’s Full Legal Name], of _______________________________________________________ (address), a citizen of ___________________________________________ (“Seller”), collectively referred to as the “Parties.”

WHEREAS, the Parties previously entered into a Yacht Purchase and Sale Agreement (the "Original Agreement") dated _____________, for the sale of the yacht described therein, and

WHEREAS, the Parties desire to amend certain provisions of the Original Agreement, now, therefore, in consideration of the mutual covenants and promises set forth below, the Parties agree to amend the Original Agreement as follows:

1. AMENDMENT TO SECTION [Insert Section Number/Title]

  • Original Provision:
    [Insert original language of the provision to be amended.]

  • Amended Provision:
    [Insert the new or amended language that modifies the original provision.]

2. AMENDMENT TO PAYMENT TERMS

  • Original Provision:
    The original agreement specifies a payment term of $________, due by [insert original due date].

  • Amended Provision:
    The Parties agree to amend the payment schedule as follows:

    1. The deposit of $________ is due upon execution of this Amendment,
    2. The remaining balance of $________ is due by [insert new due date].
      All payments shall be made by [specify form of payment, e.g., wire transfer, check, etc.], and the SELLER will notify the BUYER of any changes in payment instructions in writing.

3. AMENDMENT TO SURVEY PROVISIONS

  • Original Provision:
    The BUYER shall have the right to have the yacht surveyed at their expense, and if defects are found, they may request corrections or reject the yacht.

  • Amended Provision:
    The Parties agree that the BUYER will now have [insert number of days] days after receipt of the yacht to perform any surveys. If defects are found during this period, the SELLER shall have [insert number of days] days to correct the issues. If the SELLER fails to correct the issues to the BUYER's satisfaction, the BUYER may either renegotiate the terms or terminate the agreement.

4. EXTENSION OF CLOSING DATE

  • Original Provision:
    The closing shall take place on or before [insert original closing date].

  • Amended Provision:
    The Parties mutually agree to extend the closing date to [insert new closing date]. All other provisions of the Original Agreement regarding the closing, including but not limited to the payment and delivery terms, remain in effect.

5. ADDITIONAL TERMS AND CONDITIONS

  • New Provision(s):
    [Insert any new terms or conditions agreed upon by the Parties.]

    For example:

    • The SELLER agrees to deliver the yacht with a new set of sails at no additional cost to the BUYER.
    • The BUYER agrees to reimburse the SELLER for specific repair costs incurred in preparation for sale, as per invoice # [insert number].

6. NO OTHER AMENDMENTS

Except as expressly modified by this Amendment, all other terms and conditions of the Original Agreement shall remain in full force and effect.

7. GOVERNING LAW

This Amendment shall be governed by and construed in accordance with the laws of [insert jurisdiction], without regard to its conflicts of laws principles.

8. EXECUTION OF AMENDMENT

The Parties hereby acknowledge and agree to the amendments set forth in this document. This Amendment shall become effective upon execution by both Parties.

IN WITNESS WHEREOF, the Parties hereto have executed this Amendment to Contract as of the date first above written.

BUYER
Name: ___________________________
Signature: ________________________
Date: ____________________________

SELLER
Name: ___________________________
Signature: ________________________
Date: ____________________________

NOTARY ACKNOWLEDGEMENT (Optional, depending on jurisdiction)

State of ________________
County of _______________

On this _______________ day of ____________, 20, before me, a Notary Public, personally appeared ___________________________ (Name of Buyer) and ___________________________ (Name of Seller), known to me or satisfactorily proven to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.

Notary Public: ________________________
My Commission Expires: ________________