This document is a promissory note and chattel mortgage between a borrower and Priority1 Lending Corp. This is a Model Subordinate Mortgage Form.In this real estate exam prep video we dive deep into the promissory note and mortgage concept. Promissory Note from Chester F. Harris, and Chattel Mortgage with Power of Sale for trunk and contents to cover debt, 1877 May 12. Item. Citation. The Texas Real Estate Lien Note is a oneway agreement in which the signer makes a promise to pay someone a specific sum of money at a specific time. What is a Promissory Note Extension? A promissory note extension is a legal document allowing an extension on the borrower's period in paying back a loan.