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In this tutorial, Scott from Simple Forms to Ark explains how to clear a promissory note. Users can access the form from the financial forms drop-down menu, where they'll first receive a prompt to select their state, with options like Alabama, Mississippi, and Montana. The form is customizable, allowing users to attach a payment schedule and specify interest amounts. After filling in the lender's details and other necessary information, users can create their promissory note. If adjustments are needed, editing is simple. Once finalized, users can add the agreement to their account and make any additional notes as necessary.