Certain information in promissory note.
The Fort Worth Texas Agreement for Modification of Note with Extension is a legally binding contract that outlines the changes being made to an existing promissory note. This agreement is specific to Fort Worth, Texas, and is used when the parties involved want to modify the terms and conditions of the original note, while also extending the maturity date. The agreement typically includes relevant information such as the names and contact details of the parties involved, the date of the original note, and a description of the modifications being made. The modifications could include changes to the interest rate, payment schedule, or principal amount. Additionally, the agreement may outline any new terms that have been negotiated, such as a revised payment plan or additional collateral requirements. It is important to note that there may be different types of Fort Worth Texas Agreement for Modification of Note with Extension, depending on the specific modifications being made. For example, one type may focus on an extension of the maturity date without any other modifications, while another type may involve more significant changes to the terms of the note. Regardless of the specific type, these agreements typically require the signatures of all parties involved, and the original promissory note may need to be attached as an exhibit. It is crucial to obtain legal advice when drafting or entering into such an agreement to ensure compliance with Texas law and protection of the parties' rights. In conclusion, the Fort Worth Texas Agreement for Modification of Note with Extension is a legal document used to modify the terms and extend the maturity date of an existing promissory note. Different types of this agreement may exist depending on the modifications being made. Seeking legal advice is highly recommended when dealing with such agreements to ensure proper execution and protection of the parties' interests.
