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In this tutorial, Scott from Simple Forms to Ark demonstrates how to clear a promissory note. Users can access the form under financial forms or via a dropdown menu. Upon first access, a prompt will ask for state specifications, which can be updated at any time. The form is versatile, allowing users to fill in lender details and choose whether to attach a payment schedule or add interest, with relevant fields appearing accordingly. After completing the necessary information, users can create their promissory note. Edits can be made by clicking the edit option, and once finalized, users can add the agreement to their account and include any additional notes.