```python
from typing import List

def decode_escaped_note(text: str) -> str:
    # Step 1: Fold the lines
    folded_text = ""
    for line in text.split('\n'):
        folded_line = ''.join(line.rstrip().split())
        folded_text += folded_line + '\n'
    
    # Step 2: Walk the lines and decode escapes
    decoded_text = ""
    i = 0
    while i < len(folded_text):
        if i < len(folded_text) - 1 and folded_text[i] == '=' and folded_text[i+1] == '=':
            i += 2
        elif i < len(folded_text) - 1 and folded_text[i] == '=' and folded_text[i+1].isupper():
            i += 2
            hex_code = folded_text[i:i+2]
            decoded_text += chr(int(hex_code, 16))
            i += 2
        else:
            decoded_text += folded_text[i]
            i += 1
    
    return decoded_text
```