Magnetic Poetry

So my grandmother is loaning us money for down payment for the new condo. We asked our lawyer to give us a sample promissory note type document so that we could then make our own and have something in writing that wasn't "I will pay my grandmother the money back" with my signature.
Instead, he drafted a promissory note, for "Mark & Scott," that ends with the following section:

WAIVER: All parties hereto severally waive presentment for payment, notice of dishonor, protest, and notice of protest.

I know what all of those words mean, but doesn't it seem like lawyer magnetic poetry where he took a bunch of real words, and arranged them in a sentence that allegedly means something?