A sample of an acceleration clause in a promissory note would be: "the failure to pay any installment when due shall mature the entire indebtedness at the option of the holder of this Note." A sample of a prepayment clause in a promissory note would be: "the undersigned may prepay the principal amount outstanding in whole or in part without penalty."
Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note In Nebraska, when a borrower wishes to accelerate or prepay their promissory note, they may need to draft a letter tendering full payment to the lender. This document serves as a formal declaration of the borrower's intention to pay off the entire outstanding balance of the promissory note. By including relevant keywords in the content, borrowers can ensure the letter effectively addresses the specific requirements of Nebraska law. Here is a sample content for a Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note: [Your Name] [Your Address] [City, State, Zip Code] [Date] [Lender's Name] [Lender's Address] [City, State, Zip Code] Dear [Lender's Name], Re: Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note I, [Your Name], am I writing to formally tender full payment of the existing balance on the promissory note [Note Number] issued on [Date] by [Lender's Name]. Please accept this letter as my official notice and request for the acceleration or prepayment of the aforementioned promissory note in accordance with Nebraska state laws. After assessing my financial situation, I have determined it to be in my best interest to settle the outstanding balance of the aforementioned promissory note in full. As per the terms and conditions outlined in the note, I understand that I am entitled to accelerate or prepay the note upon the payment of the entire remaining balance. The current balance payable on the promissory note, as of [Current Date], amounts to $[Amount in Dollars, e.g., 10,000], including principal and any accrued interest or late fees. Therefore, I am enclosing a cashier's check made payable to [Lender's Name] in the aforementioned amount as full and final payment. I kindly request that you acknowledge receipt of this payment and provide a written confirmation of the full discharge of my obligations as set forth in the promissory note. A timely response within the next 10 business days would be greatly appreciated. In addition, I request that you provide me with an updated statement reflecting the satisfaction and closure of this promissory note. This statement should clearly indicate a zero balance and confirm the loan's termination. Please consider this letter as a release of any and all claims, rights, or causes of action related to the promissory note, effective immediately upon your acceptance of payment. Thank you for your prompt attention to this matter. Should you have any questions or require further information, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Yours sincerely, [Your Name] --- Possible variations or types of Nebraska letters tendering full payment of existing balance of a promissory note due to acceleration or prepayment could include: 1. Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration 2. Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Prepayment.Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note In Nebraska, when a borrower wishes to accelerate or prepay their promissory note, they may need to draft a letter tendering full payment to the lender. This document serves as a formal declaration of the borrower's intention to pay off the entire outstanding balance of the promissory note. By including relevant keywords in the content, borrowers can ensure the letter effectively addresses the specific requirements of Nebraska law. Here is a sample content for a Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note: [Your Name] [Your Address] [City, State, Zip Code] [Date] [Lender's Name] [Lender's Address] [City, State, Zip Code] Dear [Lender's Name], Re: Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note I, [Your Name], am I writing to formally tender full payment of the existing balance on the promissory note [Note Number] issued on [Date] by [Lender's Name]. Please accept this letter as my official notice and request for the acceleration or prepayment of the aforementioned promissory note in accordance with Nebraska state laws. After assessing my financial situation, I have determined it to be in my best interest to settle the outstanding balance of the aforementioned promissory note in full. As per the terms and conditions outlined in the note, I understand that I am entitled to accelerate or prepay the note upon the payment of the entire remaining balance. The current balance payable on the promissory note, as of [Current Date], amounts to $[Amount in Dollars, e.g., 10,000], including principal and any accrued interest or late fees. Therefore, I am enclosing a cashier's check made payable to [Lender's Name] in the aforementioned amount as full and final payment. I kindly request that you acknowledge receipt of this payment and provide a written confirmation of the full discharge of my obligations as set forth in the promissory note. A timely response within the next 10 business days would be greatly appreciated. In addition, I request that you provide me with an updated statement reflecting the satisfaction and closure of this promissory note. This statement should clearly indicate a zero balance and confirm the loan's termination. Please consider this letter as a release of any and all claims, rights, or causes of action related to the promissory note, effective immediately upon your acceptance of payment. Thank you for your prompt attention to this matter. Should you have any questions or require further information, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Yours sincerely, [Your Name] --- Possible variations or types of Nebraska letters tendering full payment of existing balance of a promissory note due to acceleration or prepayment could include: 1. Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration 2. Nebraska Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Prepayment.
