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."
[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Position] [Company Name] [Company Address] [City, State, ZIP Code] Subject: North Dakota Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note Dear [Recipient's Name], I hope this letter finds you well. I am writing to officially tender the full payment of the existing balance of the promissory note, as per the terms and conditions outlined within. I, [Your Full Name], hereby confirm that I am the debtor of the promissory note numbered [Note Number], originally executed on [Date of Execution]. The note is due for repayment on [Due Date], as stated in the agreement. Due to unforeseen circumstances and my intention to fulfill my financial obligation ahead of time, I have decided to exercise the option of accelerated payment or prepayment of the note. In accordance with the applicable provisions mentioned within the promissory note and relevant state laws, I am entitled to make this full payment. To officially fulfill my obligation, I hereby tender the full outstanding balance of the promissory note, which amounts to [Exact Balance in USD]. The payment has been made through [Payment Method, e.g., wire transfer, certified check], and I have attached the proof of payment for your reference. Moreover, I kindly request you to update the records and reflect this payment as a complete discharge of my debt in your records. Please provide me with an updated and signed statement confirming the loan has been satisfied in full, acknowledging the receipt of the payment, and releasing any rights or claims associated with the promissory note. Upon receipt of this letter and the enclosed payment proof, I expect the necessary actions to be taken promptly to settle the account and provide the required documentation. As time is of the essence, I kindly request your immediate attention to this matter. Should you have any questions or require any additional information, please do not hesitate to contact me at the provided email address or phone number. Thank you for your cooperation and prompt attention to this matter. I sincerely appreciate your assistance in reaching a timely resolution. Yours sincerely, [Your Full Name]
