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In this tutorial, Scott from Simple Forms to Ark explains how to create a promissory note. Users can access the form under financial forms and choose their state, with options like Alabama and Mississippi available. The form is flexible, allowing users to add features such as a payment schedule and interest rates. After filling in the necessary lender information and other details, users can create their agreement. If modifications are needed, they can edit the note. Once satisfied, users can add the agreement to their account and include any additional notes.