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Open the promissory note.

2
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This document records the borrower's promise to repay the loan.

3
00:00:05,631 --> 00:00:08,731
It states terms such as the amount owed, interest rate,

4
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and payment requirements.

5
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Place the note beside the mortgage or deed of trust.

6
00:00:13,746 --> 00:00:15,999
The note addresses the debt and repayment.

7
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The security instrument connects the obligation to property securing it.

8
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Reading one does not replace reading the other.

9
00:00:22,686 --> 00:00:26,053
The documents work together, but their functions are different.

10
00:00:26,494 --> 00:00:29,478
Match the exam question to the document's job instead of

11
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treating all loan paperwork as one instrument.

12
00:00:32,531 --> 00:00:33,263
Quick check:

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00:00:33,541 --> 00:00:36,084
are the promise to repay and the pledge of property

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the same function?

15
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No.

16
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The note documents repayment; the security instrument provides the property

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security.