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The speaker clarifies that they are not an attorney and do not offer legal advice; the information shared is for educational purposes and based on personal experiences. They then introduce the third document related to mortgages: the promissory note. Defined as a financial instrument, a promissory note is a written promise from one party (the issuer or maker) to pay a specified sum of money to another party (the payee), either on demand or at a future date. The note typically includes all relevant terms about the debt, such as the principal amount and other conditions.