You asked to draw an additional $50,000.00 from your existing Bridge2Sell transaction. This amendment does exactly that, and nothing else. Your new funds, together with closing and legal, are added to your current deal; the structure stays exactly as signed, and every figure that moves with the size of your deal increases accordingly, as shown inside.
There is only one thing happening in this amendment: your requested $50,000.00 is being added to your existing deal. Here is exactly what that means.
The additional $50,000.00 you requested is paid to you at the closing of this advance.
That is your $50,000.00 plus closing and legal. Your agreement structure, your deal term, and both of your exit dates stay exactly as signed.
The fees and calculations from your original agreement stay the same and now apply to your new, larger deal amount. That is why your monthly payment, your prepaid lease payments, and your Year-1 and Year-2 repurchase amounts increase, as shown on the next page.
| Additional advance to you | $50,000.00 |
| Closing & legal fee | $997.00 |
| Added to your existing deal | $50,997.00 |
| Total cash to you across both advances | $150,000.00 |
$100,000.00 from your original agreement, plus the additional $50,000.00 in this amendment.
Here is your current deal, your deal with the additional $50,000.00, and the increase, side by side. All figures are estimates, subject to change based on final title and closing costs.
| Your current deal | With the additional $50,000.00 | Increase | |
|---|---|---|---|
| Cash to you | $100,000.00 | $150,000.00 | +$50,000.00 |
| Monthly lease payment | $1,170.72 | $1,739.33 | +$568.61 |
| Prepaid lease payments | $28,097.20 | $41,743.99 | +$13,646.79 |
| Year-1 repurchase | $146,995.38 | $218,390.98 | +$71,395.60 |
| Year-2 repurchase | $188,993.76 | $280,787.95 | +$91,794.19 |
Your deal uses the same formula it always has, and nothing about how it is calculated changed. The fees and calculations from your original agreement now apply to your new, larger deal amount, so your monthly payment, prepaid lease payments, and repurchase prices each rise in proportion.
Taxes & insurance: Property taxes and insurance continue to ride your existing mortgage escrow and remain your responsibility. This is unchanged from your original Subject-To agreement.
Payments are prepaid at closing. After 12 payments, anything unused is prorated to your sale date and credited back.
| Month 13 | $223,590.72 |
| Month 14 | $228,790.47 |
| Month 15 | $233,990.22 |
| Month 16 | $239,189.97 |
| Month 17 | $244,389.72 |
| Month 18 | $249,589.46 |
| Month 19 | $254,789.21 |
| Month 20 | $259,988.96 |
| Month 21 | $265,188.71 |
| Month 22 | $270,388.46 |
| Month 23 | $275,588.20 |
| Month 24 | $280,787.95 |
Monthly proration is the sum of your annual option fee and your monthly payment cost, estimated at $5,199.75 per month during any extension period, applied only until the time of sale.
Term: 1 year with an automatic 12-month extension (Year 2). During Year 2, all fees and payments are prorated until the time of sale, per the schedule above. Your deal term, agreement structure, and both exit dates are unchanged from your original agreement.
This restates the figures above so they are easy to follow. Please review each line and initial to confirm your understanding.
| Definition | Amount | Initials |
|---|---|---|
| The additional cash you will receive at the closing of this advance | $50,000.00 | |
| The total being added to your existing deal (your advance plus closing & legal) | $50,997.00 | |
| Your total estimated cash received across both advances | $150,000.00 | |
| The estimated monthly lease payment (up from $1,170.72) | $1,739.33 | |
| 24 months of lease payments included in your purchase price | $41,743.99 | |
| This brings your estimated purchase amount to (Total Advance) | $197,737.99 | |
| Your estimated annual option fee & exit fee subtotal | $41,524.98 | |
| The Option Repurchase amount in Year 1 (after credits) | $218,390.98 | |
| Monthly proration (option fee + exit fee + payment, monthly) | $5,199.75 | |
| The Option Repurchase amount in Year 2 | See Months 13-24 schedule |
I/We, the undersigned, agree to add the additional advance and the amended figures set out in this amendment to our existing Bridge2Sell agreement. All other terms of that agreement remain unchanged. I/We have the authority to sign this amendment on behalf of the related entities.
This amendment amends only the items shown above. Your monthly payment, prepaid lease payments, and Year-1 and Year-2 repurchase prices are increased to the amended figures shown above; your deal term, agreement structure, and both exit dates are not changed and remain in full force. On a Subject-To transaction, property taxes and insurance are carried by your existing underlying mortgage escrow and remain your responsibility.
All figures are estimates, subject to change based on final title and closing costs. THIS IS NOT A PERSONAL LOAN, MORTGAGE, LAND CONTRACT OR OTHERWISE. YOU SHOULD CONSULT WITH AN ATTORNEY TO UNDERSTAND YOUR RIGHTS AND OBLIGATIONS UNDER THE CONTEMPLATED TRANSACTION. YOU MAY ALSO WISH TO CONSULT WITH A FINANCIAL, TAX, OR REAL ESTATE PROFESSIONAL PRIOR TO SIGNING THIS AMENDMENT.