Travis County Deed Records: Deed Record 604 - Deeds of Trust Page: 70
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secured hereby may, at its or said holder’s option, institute
in equity of such amounts as may be then unpaid, or the said
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applied, first, to advancements, if any, in the order of maturity, and second,
if any loaned in excess of the amount, if any, loaned to renew existing liens,’
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and truly pay off and discharge the said note and all other principal of said indebtednes
or any unpaid balance thereof, and all interest accrued thereon, secured and intended to
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then to that part, if any, loaned to renew liens now existing. Proceeds from foreclosure
sales shall be applied in the same ma nner t
Now, Therefore, it is mutually agreed between the parties hereto, that if the said granto
be released in due format the expense of the grantors; otherwise it shall remain in full.
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shall faithfully keep and perform all the covenants and agreements above set forth, and w,1
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secured herein, then and in that cggg
, " in -ue case only, this conveyance shall be null and void and shall
But if default be made in the payment of any part of the indebtedness hereby secured, whether
principal or interest, when the same becomes due and demandable, or if default be made in
any condition, stipulation, agreement or covenant herein contained, then the whole prancapa
balance of the said note may, at the option of the Company or any holder of said note or
other indebtedness secured hereby without notice to the said grantors, be declared immediLu
due and payable, and the said Company or any holder of said note or other indebtedness
8. That the Company or its assigns may, at its or their option, without demand or
notice and without waiver of any right whatsoever, pay or discharge any lien or claim
upon the said premises or pay any delinquent tax or assessment and upon such payment'
the Company or its assigns shall be subrogated respectively to the rights of the holder
of such lien or claim or to the zights of the taxlng authordty; that the Company or ats
assigns may advance any unpaid insurance premiums, or effect insurance if not provided
by grantors as provided herein and pay the premiums therefor; that whenever the grantors
have^ failed to properly maintain the improvements, the Company or its assigns may make
repairs necessary for the proper preservation of the security; and the grantors hereby
expressly agree to pay to the Company or its assigns, upon demand, any and all disburse-
ments made under the provisions of this Deed of Trust together with interest thereon at
the rate of eight per cent, per annum from the respective dates of such disbursements
and all such disbursements shall become a part of the indebtedness secured hereby, and
as between the parties hereto and all others acquiring an interest herein the regularity
and validity of all the levies and assessments of taxes entered on the public records
shall be conclusively established thereby.
9. That the exercise of any option given under the terms of this Deed of Trust shall
not be considered as a waiver of the right to exercise any other option given herein.
10. That in the event the grantors convey their interest in the described premises
to parties not appearing in this instrument, the Company may, without notice to the
grantors, deal with such successor or successors in interest with reference to this Deed
of Trust and the note hereby secured, either by way of forbearance on the part of the
Company or extension of the time of payment of the debt or any sum hereby secured, wathout
in any way modifying or affecting the conveyance under this Trust Deed or the original
liability of the grantors on the note secured hereby, either in whole or in part.
11. That all payments made on the debt and advancements, if any, hereby secured shall be
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Travis County (Tex.). Clerk's Office. Travis County Deed Records: Deed Record 604 - Deeds of Trust, book, 1938-12/1939-03; (https://texashistory.unt.edu/ark:/67531/metapth1564405/m1/76/?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.