Mississippi Sample Letter for Revised Promissory Note

• Category: Promissory Notes - Revisions
• State: Multi-State
• Control #: US-0427LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. Dear [Recipient's Name], I am writing to inform you about the revised promissory note for [loan amount] that we have agreed upon. After careful consideration and discussion, we have made some essential changes to the existing promissory note that better reflects the terms and conditions of our agreement. The revised promissory note serves as a legally binding document that outlines the agreement between the lender, [Lender's name], and the borrower, [Borrower's name], pertaining to the repayment of the loan. The purpose of this letter is to highlight the modifications made to the note to ensure clarity and understanding between both parties. Firstly, we have revised the interest rate from [previous interest rate]% to [new interest rate]%. This change has been made to reflect current market conditions and to provide a fair and competitive interest rate for both parties involved. We believe this adjustment is beneficial and will assist in the smooth repayment of the loan. Secondly, we have extended the repayment period from the original [previous repayment period] to [new repayment period]. This extension has been granted after thoroughly analyzing your financial situation and taking into account any potential unforeseen circumstances that may arise. It is our aim to provide you with a more manageable repayment schedule that aligns with your financial capabilities. Furthermore, we have made amendments to the repayment terms. The revised promissory note now includes a provision for making monthly payments of [payment amount] commencing on [start date]. This ensures a structured repayment plan, making it easier for you to meet your repayment obligations consistently. Additionally, we have included a clause in the revised promissory note for the possibility of early repayment. This provision allows you to repay the loan in full before the agreed-upon repayment period, penalty-free. We understand that circumstances can change, and you may have the means to repay the loan early; hence, we wanted to provide you with this flexibility. Moreover, we have updated the contact information section to ensure effective communication. Please review this section carefully and notify us immediately if any changes need to be made so that we can update our records accordingly. Please note that the revised promissory note supersedes any prior agreements or documents. We kindly request that you carefully review the enclosed document and, if in agreement, sign and return a copy to us at your earliest convenience. Once received, we will provide you with a fully executed copy for your records. Thank you for your prompt attention to this matter. Should you have any questions or require further clarification regarding the revised promissory note, please do not hesitate to contact me directly at [Your contact number] or via email at [Your email address]. We value your business and remain committed to assisting you throughout this process. Yours sincerely, [Your Name] [Your Title/Position] [Company Name] [Company Address] [City, State, ZIP] [Phone Number] [Email Address]

Dear [Recipient's Name], I am writing to inform you about the revised promissory note for [loan amount] that we have agreed upon. After careful consideration and discussion, we have made some essential changes to the existing promissory note that better reflects the terms and conditions of our agreement. The revised promissory note serves as a legally binding document that outlines the agreement between the lender, [Lender's name], and the borrower, [Borrower's name], pertaining to the repayment of the loan. The purpose of this letter is to highlight the modifications made to the note to ensure clarity and understanding between both parties. Firstly, we have revised the interest rate from [previous interest rate]% to [new interest rate]%. This change has been made to reflect current market conditions and to provide a fair and competitive interest rate for both parties involved. We believe this adjustment is beneficial and will assist in the smooth repayment of the loan. Secondly, we have extended the repayment period from the original [previous repayment period] to [new repayment period]. This extension has been granted after thoroughly analyzing your financial situation and taking into account any potential unforeseen circumstances that may arise. It is our aim to provide you with a more manageable repayment schedule that aligns with your financial capabilities. Furthermore, we have made amendments to the repayment terms. The revised promissory note now includes a provision for making monthly payments of [payment amount] commencing on [start date]. This ensures a structured repayment plan, making it easier for you to meet your repayment obligations consistently. Additionally, we have included a clause in the revised promissory note for the possibility of early repayment. This provision allows you to repay the loan in full before the agreed-upon repayment period, penalty-free. We understand that circumstances can change, and you may have the means to repay the loan early; hence, we wanted to provide you with this flexibility. Moreover, we have updated the contact information section to ensure effective communication. Please review this section carefully and notify us immediately if any changes need to be made so that we can update our records accordingly. Please note that the revised promissory note supersedes any prior agreements or documents. We kindly request that you carefully review the enclosed document and, if in agreement, sign and return a copy to us at your earliest convenience. Once received, we will provide you with a fully executed copy for your records. Thank you for your prompt attention to this matter. Should you have any questions or require further clarification regarding the revised promissory note, please do not hesitate to contact me directly at [Your contact number] or via email at [Your email address]. We value your business and remain committed to assisting you throughout this process. Yours sincerely, [Your Name] [Your Title/Position] [Company Name] [Company Address] [City, State, ZIP] [Phone Number] [Email Address]