Fill and Sign the Prepayment Agreement Form

PREPAYMENT AGREEMENT AGREEMENT made this the _________day of ___________, _______, between ______________________________and ______________________________ hereinafter referred to as "Payors," and ______________________________, as Conservator of the Estate of ______________________________ hereinafter referred to as "Payee." W I T N E S S E T H: WHEREAS, on __________ ____, ____, ______________________________ as Conservatrix of the Estate of _______________________, sold to Payors that certain land and property described in the Purchase Money Warranty Deed recorded in Deed Book _____ at Page _____ at the _____ County Chancery Clerk's office at _________, __________, for _________ Dollars ($____________), with a cash down payment of ____________ Dollars ($____________) and the balance paid by Payors giving to Payee's predecessor a Promissory Note (a copy of which is attached hereto as Exhibit "A") in the amount of __________________________ Dollars ($_______________ ) secured by that certain Deed of Trust on file and of record in Deed of Trust Book Chancery Clerk's office; and __________ at Page _______ of said Chancery Clerk’s office; and WHEREAS, the balance of said Note was _____________________________ Dollars ($_____________) after payment by Payors of the _____ installment; and WHEREAS, Payors wish to prepay said Note and have said Deed of Trust canceled of record by making a one-time cash payment of _____________ Dollars ($_____________) to said Conservator for the benefit of the Estate of ____________________________.NOW, THEREFORE, for and in consideration of the mutual covenants and promises contained herein, the undersigned do hereby bind themselves and fully agree as follows, to-wit: 1. Payors agree to pay to _____________ as Conservator of the Estate of _____________ the sum of _____________ Dollars ($__________) cash on or before __________ ____, ____, in full satisfaction of the aforementioned Promissory Note. 2. Upon receipt of said payment of _____________ Dollars ($_____________),_____________, as said Conservator of the Estate of _____________, does hereby agree to mark said Note "Paid" and execute an Authority to Cancel in the form attached hereto as Exhibit "B." 3. The consummation of this Agreement is contingent upon the approval of the Chancery Court of the _________ Judicial District of _________ County, ___________, of Payee's Petition for authority to accept the prepayment of said Note as aforesaid and to cancel said Deed of Trust. WITNESS our signatures, this the. _____________, day of __________, ____. CONSERVATORSHIP OF _______________________________ By: ________________________________________________________________, Conservator __________________________________________________________________________________________________________________________