The Addendum To Note Template is utilized when parties need to modify the terms of an existing note without creating an entirely new agreement. This document type is particularly relevant in situations where circumstances have changed since the original note was executed, requiring amendments to payment schedules, interest rates, or other terms. Under English and Welsh law, this addendum must clearly reference the original note and specify exactly which terms are being modified while ensuring all other provisions remain in full force and effect.
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1. Identification of Original Note: Details of the original note being amended, including date and parties
2. Purpose of Addendum: Clear statement of why the addendum is being created
3. Amendments: Specific changes being made to the original note
4. Effect on Original Note: Statement that all other terms remain in full force and effect
5. Execution: Signature blocks and execution provisions
1. Definitions: Required if new terms are being introduced or existing terms need modification
2. Conditions Precedent: Any conditions that must be met before the addendum takes effect
3. Representations and Warranties: Additional statements of fact or promises made by the parties
1. Schedule of Amendments: Detailed listing of specific changes if numerous or complex
2. Updated Payment Schedule: If payment terms are being modified
3. Original Note: Copy of the original note being amended
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