IF NOT EXIST not working in Windows Batch

I am trying to insert an "if not exist" in a windows batch file where another similar IF with the same formatting IS working - can't tell why this one fails after researching and testing.

The second If not exist working as expected. (and third with ELSE)

Formatting is the same, %INIFile% is defined

@echo off
setlocal EnableExtensions Enabledelayedexpansion
set "TODAY=%Date:~4,2%-%Date:~7,2%-%Date:~12,2%"
set "NOW=%time:~0,2%.%time:~3,2%.%time:~6,2%"
set "TempFile=%TEMP%\%~n0.tmp"
set "INIFile=Parameters.ini"

if not exist ".\%INIFile%" (
    echo ERROR: List file "%INIFile%" not found.
    echo ERROR: List file "%INIFile%" not found.>>%LogFile%
    goto :EndBatch
)

:: Get Parameters
call :get-ini %INIFile% Parameters ListFile result
Set "ListFile=%result%"
call :get-ini %INIFile% Parameters Target result
Set "Target=%result%"
call :get-ini %INIFile% Parameters TarDIR result
Set "TarDIR=%result%"
call :get-ini %INIFile% Parameters SectionName result
Set "SectionName=%result%"
call :get-ini %INIFile% Parameters EntryName result
Set "EntryName=%result%"
call :get-ini %INIFile% Parameters NewValue result
Set "NewValue=%result%"
call :get-ini %INIFile% Output LogName result
Set "LogFile=%result%_%EntryName%_%TODAY%_T%NOW%_Log.txt"

XCOPY /Y "%~dp0*_log.txt" "%~dp0%LOGS" 2>nul >nul
ERASE "%~dp0*_log.txt" /Q 2>nul >nul

Echo INI File Updater
Echo INI File Updater>>%LogFile%
Echo ==============================
Echo ==============================>>%LogFile%
Echo PC List: %ListFile%
Echo PC List: %ListFile%>>%LogFile%
Echo INI File: %INIFile%
Echo INI File: %INIFile%>>%LogFile%
Echo Run: %DATE%:%TIME%
Echo Run: %DATE%:%TIME%>>%LogFile%
Echo Target File: %Target%
Echo Target File: %Target%>>%LogFile%
Echo Target DIR: \%TarDIR%
Echo Target DIR: \%TarDIR%>>%LogFile%
Echo INI Section : %SectionName%
Echo INI Section : %SectionName%>>%LogFile%
Echo Search Key: %EntryName%= Update: "%EntryName%=%NewValue%"
Echo Search Key: %EntryName%= Update: "%EntryName%=%NewValue%">>%LogFile%
Echo ==============================
Echo.
Echo ==============================>>%LogFile%
Echo.>>%LogFile%


if not exist ".\%ListFile%" (
    echo ERROR: List file "%ListFile%" not found.
    echo ERROR: List file "%ListFile%" not found.>>%LogFile%
    goto :EndBatch
)

for /F "usebackq delims=" %%I in ("%ListFile%") do call :UpateIniFile "\\%%I\%TarDIR%\%Target%"
goto EndBatch


:UpateIniFile
set "EmptyLines="
set "EntryUpdate="
set "CopyLines="
if not exist %1 (
    echo --ERROR-- %1 Unreachable !time:~0,8!
    echo --ERROR-- %1 Unreachable !time:~0,8!>>"%LogFile%"
    goto :EOF
) ELSE (
    for /F delims^=^ eol^= %%I in ('%SystemRoot%\System32\findstr.exe /N "^" %1 2^>nul') do (
        set "Line=%%I"
        if defined CopyLines (
            echo(!Line:*:=!
            endlocal
        ) else if not defined EntryUpdate (
            echo(!Line:*:=!
            if /I "!Line:*:=!" == "!SectionName!" (
                endlocal
                set "EntryUpdate=1"
            )
        ) else (
            if /I "!Line:*:=!" == "!EntryName!=!NewValue!" (
                endlocal
                goto ValueExists
            )
            if "!Line:*:=!" == "" (
                endlocal
                set /A EmptyLines+=1
            ) else (
                set "Line=!Line:*:=!"
                if "!Line:~0,1!!Line:~-1!" == "[]" (
                    echo !EntryName!=!NewValue!
                    if defined EmptyLines for /L %%J in (1,1,!EmptyLines!) do echo(
                    echo !Line!
                    endlocal
                    set "EntryUpdate=3"
                    set "CopyLines=1"
                ) else (
                    if defined EmptyLines for /L %%L in (1,1,!EmptyLines!) do echo(
                    for /F delims^=^=^ eol^= %%J in ("!Line!") do (
                        if /I not "%%~J" == "!EntryName!" (
                            echo !Line!
                            endlocal
                        ) else (
                            echo !EntryName!=!NewValue!
                            endlocal
                            set "EntryUpdate=2"
                            set "CopyLines=1"
                        )
                    )
                    set "EmptyLines="
                )
            )
        )
    )
)>"%TempFile%"

if not defined EntryUpdate (
    >>"%TempFile%" echo %SectionName%
    >>"%TempFile%" echo %EntryName%=%NewValue%
    set EntryUpdate=4
)
if %EntryUpdate% == 1 (
    >>"%TempFile%" echo %EntryName%=%NewValue%
    set "EntryUpdate=3"
)

move /Y "%TempFile%" %1 2>nul >nul
if errorlevel 1 (
    setlocal EnableDelayedExpansion
    echo Failed to update: %1 : !time:~0,8!
    echo Failed to update: %1 : !time:~0,8!>>"%LogFile%"
    del "%TempFile%"
    endlocal
    goto :EOF
)

if %EntryUpdate% == 2 (
    echo !EntryName!=!NewValue! updated in: %1 : !time:~0,8! 
    echo !EntryName!=!NewValue! updated in: %1 : !time:~0,8!>>"%LogFile%"
    goto :EOF
)
if %EntryUpdate% == 3 (
    echo !EntryName!=!NewValue! ADDED to:   %1 : !time:~0,8!
    echo !EntryName!=!NewValue! ADDED to:   %1 : !time:~0,8!>>"%LogFile%"
    goto :EOF
)
if %EntryUpdate% == 4 (
    echo Section+ !EntryName!=!NewValue! to: %1 : !time:~0,8!
    echo Section+ !EntryName!=!NewValue! to: %1 : !time:~0,8!>>"%LogFile%"
    goto :EOF
)

:ValueExists
    echo !EntryName!=!NewValue! existed in: %1 : !time:~0,8!
    echo !EntryName!=!NewValue! existed in: %1 : !time:~0,8!>>"%LogFile%"
    del "%TempFile%"
    goto :EOF

:get-ini <filename> <section> <key> <result>
  set %~4=
  set insection=
  for /f "usebackq eol=; tokens=*" %%a in ("%~1") do (
    set line=%%a
    if defined insection (
      for /f "tokens=1,* delims==" %%b in ("!line!") do (
        if /i "%%b"=="%3" (
          endlocal
          set %~4=%%c
          goto :eof
        )
      )
    )
    if "!line:~0,1!"=="[" (
      for /f "delims=[]" %%b in ("!line!") do (
        if /i "%%b"=="%2" (
          set insection=1
        ) else (
          endlocal
          if defined insection goto :eof
        )
      )
    )
  )

:EndBatch
Echo.
Echo.>>%LogFile%
Echo --END--
Echo --END-->>"%LogFile%"
Echo.
Echo --LOGFILE-- %LogFile%
Echo.
endlocal
pause

The first one fails while the second (and third) nearly identical one works

if not exist ".\%INIFile%" (
    echo ERROR: List file "%INIFile%" not found.
    echo ERROR: List file "%INIFile%" not found.>>%LogFile%
    goto :EndBatch
)

Parameters.ini

[Parameters]
ListFile=PCList.txt
Target=SMSStart.ini
TarDIR=Storeman
SectionName=[Maintenance]
EntryName=Reboot
NewValue=1

[Output]
LogName=INI_Update

PCList.txt

LAB-LANE005
LAB-LANE006
LAB-LANE001
LAB-LANE007
LAB-LANE008