Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 88
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an attorney for collection after
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for an additional ten per cent
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per cent per annum, and the payment of such debt and interest
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shall also be secured by
the said promissory note
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an amount equal at all times to the
in some good and responsible insurance
amount remaining unpaid on the said promissory note,
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note providing if the same should be placed in the hands of
maturity, or if collected by legal proceedings of any kind,
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provided that in case the parties of the second part fail to pay the said taxes, op-any pa
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against cyclones, torn does and other windstorms for
the mechanic’s lien aforesaid, and it is hereby agreed and in
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by the said party of the first part, or other holder of said note, shall from the time of
the option of the holder of the said promissory note, to collect the same and to foreclose
the mechanic's lien hereinafter mentioned, and the right being reserved in said promissory
note to pay on any installment paying date thereof, in aditionnto the installmentthen due
one or more of said installments of said note, that the said party of the first part is
hereby declared to have a mechanic’s lien on the said improvements and on said property
hereinbefore described, constituting one body of land and intended to be used and enjoyed i
connection with the said improvements, to secure the payment of the said promissory note
or fail to pay the said taxes, or any part thereof, on the said property as they severally
become due and payable, then, the said party of the first part or other holder of said
note,without being under obligation to do so, may take out such policy or policies of insut
ance and pay the premiums therefor, and pay such taxes, all for and on account of the said
parties of the second part, and any such premiums of insurance and taxes, or either paid
selves, after the said improvements have been completed by the said party of the first part
according to the said plans and specifications, and accepted by the said parties of the
second part, to keep the said improvements insured, at their own expense, against fire for
an amount equalat all timesto the amount remaining unpaid on the said promissory note, and
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ally become due and payable until the whole of the said promissory note has been fully
paid and satisfied; and that in case they fail to procure the said policy or policies of
insurance, or fail to pay any premiums therefor as they severally become due and payable,
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hereinbefore described; that the said parties of the second part hereby agree and bind them-
Dollars to be paid on or before the 1st day of December, A. D. 1938, and one installment
of Twelve and 50/100 Dollars to be paid on or before the. 1st day of each and every month
thereafter until said promissory note hes 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
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on the amount to be collected for attorney’s fees, and the said note further providing that
if any one of the said installments of the said note shall not be paid when due, then,at
the option of the holders 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
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such payment constitute a debt against the said parties of the second part in favor of the
said party of the first part, or other holder of said note, paying the satte for the amount
so paid, which shall bear interest from the time of such payment at the rate of eight
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company or companies approved 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 Pirst
part, or other holder of said note, as the interest of the said party of the first part, or
other holder of said note, may appear, and to deposit such policyor policies of insurance |
with the said party of the first part, or other holder of said note, until the whole of
the said note hereinbefore mentioned has beenfully paid and satisfied,and that the said
parties of the second part also hereby agree and bind themselves to pay all taxes of every'
kind and character on the said property hereinbefore mentioned and described as they sever-
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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/m1/94/?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.