A mortgage exists between Jonah and Marina with respect to a piece of property called Blackacre.The mortgage agreement contains a prepayment privilege.In normal circumstances, Jonah would want the inclusion of that clause if he is the mortgagor, but not if he is the mortgagee.

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The prepayment privilege allows the borrower (mortgagor) to pay off the mortgage before its maturity date without incurring a penalty, which is beneficial for the borrower but not typically desired by the lender (mortgagee) who would lose out on expected interest payments.

A Mortgage Exists Between Jonah and Marina with Respect to a Piece