Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 2
This book is part of the collection entitled: Travis County Clerk Records and was provided to The Portal to Texas History by the Travis County Clerk’s Office.
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as principal and bear the same rate of interest, said note containg the usual stipulation as
to attorney’s fees, and providing that its payment is secured by a valid and subsisting
mechanic’s and materialmen’s lien on the hereinabove described property, and further providing
that failure to pay said note, or any installment thereof of principal and interest when
due, or failure to keep and perform covenants and obligations hereinafter set forth and co n-
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they will keep the improvements erected on said property fully insured at their own expense
against loss or damage by fire, windstorm and hail, in a sum not less than the unpaid bal-
ance of said note, in some insurance company or companies having a permit to do business in
the State of Texas, and acceptable to the owner and holder of said note, such insurance
policy or policies providing for mortgage loss clause payable in favor of Peyee or other
owner and holder of said note, as his interest may appear, and to deposit such policy or
policies of insurance with Payee, or other owner and holder of such note, until the said
indebtedness herein described has been fully paid and satisfied.
. Owners further agree that they will pay before the same become delinquent, all taxes
and other valid governmental assessments which may be levied on the above described property,
until the above mentioned indebtedness has been fully paid and satisfied. In the event Owners
fail to procure said policy or policies of insurance or fail to pay any of the premiums
therefor, as they severally become due and payable, or fail to pay said taxes, or any part
thereof, on said property when the same become due and payable, then Contractor, or other
owner and holder of said note, at his option, and without being under obligation to do so,
may take out such policy or policies of insurance, and pay the premiums therefor, and pay
such taxes all for and on account of Owners, and any such insurance premiums ortaxes paid
by owner and holder of such note shall from the time of such payment constitute a debt against
Owners in favor of Fayee, or other owner and holder of said note, which shall bear interest
from the time of such payment at the rate of seven per cent (7%) per annum, and the payment
of such debt and interest shall also be secured by the mechanic’s lien aforesaid.
In the event Owners fail to pay said taxes before the same become delinquent, or fail
to keep the improvements insured as herein provided, or fail to pay any premiums for such
insurance as the same shall become due and payable, or fail to pay any installment of princi-
pal or interest of said note, when due, then at the option of the owner and holder of said
note, such note shall at once become due and payable, and suit may be immediately insti-
tuted at the option of the holder of the note to collect the same and to foreclose the me-
chanic’s lien herein provided for, and this notwithstanding any previous indulgencies.
This contract is executed and delivered before any material or labor for the erection
and construction of said improvements has been furnished. Owners here state that they ovm
in fee simple, free and clear of all liens and encumbrances, recorded or unrecorded, the
property hereinabove described.
IN FITNESS TO THIS CONTRACT, Owners and Contractor have hereunto signed their names,
all at "ustin, Texas, this the 8th day of November, A, D, J938.
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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/m1/8/?q=%221939-03%22: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Travis County Clerk’s Office.