This article discusses the typical modifications of a note and reviews the use of a note modification agreement and the modification of note forms. Borrower desires to secure the payment of the Debt (as defined in Article 2) and the performance of all of the Other Obligations (as defined in Article 2).A trust deed is always used together with a promissory note (also called "prom note") that sets out the amount and terms of the loan. The loan modification updates certain termslike interest rates or the maturity datebut it doesn't replace the original note or deed of trust. Complaint added two new counts: Count IV - Breach of Contract - Deed of Trust; and. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of. No offset or claim which. Grantor trust income tax rules without causing the trust to be included in the grantor's estate.25. Anyone seeking advice or assistance to fill out such forms should contact a legal clinic or lawyer. If a mortgage payment is not made, the lender cannot pursue the original borrower for payment, even though they're not in the deed.