A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Log in to your account online to make a payment, check your loan balance and more.Our Loan Servicing team is always happy to assist you. This is a legally binding Real Estate Purchase Contract ("REPC"). Utah law requires real estate licensees to use this form. Do you have questions? Please thoroughly read and sign the following— one for each business applicant (see also personal financial statement):. 1. Filling out this form is straightforward. A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. This is to assist you with correctly completing this form and paying your tax.