The other is the hippocampus. Both lie near one another in the temporal lobe, nearly entirely hidden from the brain's surface, for neocortex has overgrown them. And so on. But knowing the cranial nerves is useful for understanding the organization. Their motor roots exit ventrally from the even-numbered rhombomeres.
Olfactory nerves come into the dorsal forebrain.
Sensory fibers entering the CNS dorsally and motor fibers leaving the CNS ventrally characterizes the spinal cord as well, and the arrangement is likely primitive in vertebrates. These features are basic in understanding fundamentals of how the brain works. The long axons of the projection neurons form bundles, nerve tracts or pathways that communicate to other nuclei or areas. Primary motor axons leave the brain and project to muscles or the postganglionic neurons in located in autonomic ganglia. Many other pathways involve the cerebral cortex and very many do not involve the cortex at all.