The bit at the bottom may be in latin granting the probate to Margaret Pennyfather and Thomas Holland of Barton Stafford.
There was no probate as such. It's a nuncupative will (delivered orally), no executor was named, nor (apparently) were there any signatories. Administration of the estate was granted to Margaret Pennyfather, with Thomas Holland as bondsman, to ensure the law was complied with.
Fiat administrac(i)o bonorum suprano(m)i(n)ati defuncti Margrete
Pennyfather sorori eiusdem defuncti secund(um) tenorem ultime
eius voluntat(is) ut supra declarat(um)
Ob(ligatus) Thom(a)s Holland de Barton subtus Needwood in Com(itatu)
Stafford gen(er)osusLet there be administration of the goods of the above-named deceased (granted) to Margaret Pennyfather, sister of the same deceased, according to the tenor of his last will as declared above. Thomas Holland, gentleman, of Barton under Needwood in the county of Stafford, (was) bound.
ADDED - I think
Alice may be
Meurcocke.
ADDED - I think the year is actually written
1601, though equivalent to 1602 in the modern calendar, as the dates are before 25 March.