Being a Private Lender. What to watch out for?

[Julie I.]

I am thinking to act as a private lender for someone who is living in NY.  I live in California and the property that the borrower wants to use as collateral is in Texas.  I know that I would need at least a promissory note and deed of trust from the borrower.  Does anyone know what other documents I should have to minimize my risks as a private lender?  Or what stipulations do you think I need in a contract?  Any advice would be helpful.  Thanks. -Julie