Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 42
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the said property
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at all times to the amount remaining unpaid on the said promissory note,
mentioned, has been fully paid and satisfied,
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until th€ whole of the said note, hereinbefore
that the said parties of the second part alsc
selves, after the said improvements have been completed by the said party of the first par
according to the said plans and specifications, and accepted by the said parties of the
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hereby declared to have a mechanic’s lien on the said improvements and on
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the first part, or other holder of said note,
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and against cyclones,
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hereby agree and bind themselves to pay all taxes of every kind and character on the said
agreement and undertaking at Austin, Travis County, Texas, the said sum of Fifty three
hundred twenty eight Dollars, as follows: Three hundred twenty eight Dollars cash this
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hereinbefore described, constituting one body of land and intended to be used and enjoyed
in connection with the said improvements, to secure the payment of the said promissory note
hereinbefore described, that the said parties of the second part hereby agree and bind them-
second part, to keep the same insure^, at their own expense, against fire for an Amou nt? eQi al
lien hereinafter mentioned, and the right being reserved in the said promissory note to pay
on the paying dates of said installments of said note, in addition to the installment then
due, one or more of said installments of said note, that the said party of the first part is
2. That the said parties of the second part, in consideration of the foregoing agreement
and undertaking on the part of the said party of the first part, hereby agree, bind themselves
and promise to pay to the said party of the first part, for the fulfillment of his said
by the said parties of the second part to the said party of the first part, as hereinafter
provided.
day in hand paid by the parties of the second part to the said party of the first part, the
receipt of which is hereby acknowledged by the said party of the first part, and the re-
maining Five thousand Dollars of said consideration is to be paid by the said parties of
the second part on and in accordance with the terms of their one certain promissory note,
bearing even date herewith, payable to the order of P. G. Cummings, at Austin, Travis
County, Texas, for the sum of Five thousand Dollars, and the said note bearing interest
from date until paid at the rate of seven per cent per annum, and to be included in the
payments hereinafter mentioned, and the principal and interest of said note to be payable
in installments as follows: One installment of Sixty two and 50/100 Dollars to be paid
on or before the 1st day of January, A.D. 1939, and one installment of Sixty two and 50/100
Dollars to be paid on or before the 1st day of each and every month thereafter until the
said promissory note has been fully paid and satisfied, and the said installments to be
applied first to the payment of interest accrued on said note at the date such installment
is paid, and the remainder to the principal of said note, and the said note providing if
the same should be placed in the hands of an attorney for collection after maturity, or if
collected by legal proceedings of any kind, for an additional ten per cent on the amount
to be collected for attorney’s fees, and-the said note further providing that if any of
the said installments of the said note shall not be paid when due, then, at thee option
of the holder thereof, the whole of the said note, principal and interest then accrued,
shall at once become due and payable, and suit may be immediately commenced, at the option
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of the holder of the said promissory note, to collect the same and to foreclose the mechani
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tornadoes and other windstorms for an amount equal at all times to the amount remaining unpaid
on the said promissory note, in some good and responsible insurance company or companies ap-
proved by the said party of the first part, or other holder of said note, and to have the
policy or policies of insurance payable to the said party of the first part, or other holder
of said note, as the interst of the said party of the first part, or other holder of said
note may appear, and to deposit such policy or policies of insurance with the said party of
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Travis County (Tex.). Clerk's Office. Travis County Deed Records: Deed Record 598 - Mechanics Liens, book, 1938-11/1939-03; (https://texashistory.unt.edu/ark:/67531/metapth1564399/m1/48/?q=%221939-03%22&rotate=180: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Travis County Clerk’s Office.