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Exhibit 10.2
BENACQUISTA GALLERIES, INC.
6870
La Valle Plateada Rancho
Santa
Fe, California 92067
Vibe
Records, Inc.
446
Edwards Avenue, Suite #1
Calverton,
New York 11933
To
Whom It May Concern:
Reference
is made to the Agreement of Sale, dated as of January 11, 2008
by and between Vibe Records, Inc., a Delaware Corporation
(“ Vibe
”), Benacquista Galleries, Inc., a Nevada corporation
(“ Benacquista
”), James Price, an Individual (“ Mr. Price
”) and Timothy Olphie, an individual (“
Mr.
Olphie ”, and together the “ Parties
”) (the “ Agreement
”). All terms defined in the Agreement shall
have the same meaning when used in this letter unless
otherwise defined herein.
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1.
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Benacquista
and Mr. Price are willing to extend the termination date under the
Agreement from March 25, 2008 to April 9, 2008, in consideration
for the payment of an additional $25,000 non-refundable deposit
toward the purchase price of $450,000 which has been received by
Mr. Price.
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2.
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Benacquista
and Mr. Price agree that no later than three business days after
receipt of the Additional Payment and signed and executed copy of
this document by Vibe and Mr. Olphie, they will prepare and file
all necessary documents with the Securities and Exchange Commission
to announce the terms of this Letter. The failure of
Benacquista and M
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