Costs of Private Lending

[Karen O.]

If/when getting into the private lending business, presumably one will strive for a 1st lien position and will have an attorney or title company complete and record promissory notes and such to protect one's investment.  Am I right to think of these as the equivalent of closing documents and the costs associated as closing costs?  If so, would these costs normally be paid for by the lender or the borrower?  Thanks in advance for guidance...