Travis County Deed Records: Deed Record 604 - Deeds of Trust Page: 82
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It is further agreed that the holder of said note may collect the proceeds of
that may become due on account of damage to or destruction of any improvements
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and interest on that certain promissory note for One Thousand Four Hundred Dollars (#1,400
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“ho shall succeed to all the estates, rights, powers, and duties of the said O.ol aman Gay,
trustee, and we do hereby ratify any and all acts which the said Coleman Gay, trustee, or
successors in this trust, shall do lawfully by virtue hereof.
We agree to pay all taxes due upon said property before the accrual of penalty thereon,
and during the life of the note above described to keep the improvements situated upon
said premises insured against loss by fire, tornado, and windstorm for the full insurable
value thereof, in a stock company or companies acceptable to the holder or holders of sale
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policies of insurance with said holder or holders, and failure upon our part to pay said
taxes or to maintain said insurance and to pay the premium thereon, or to deposit the
insurance policies with the holder or holders of said note, shall entitle the holder or
holders of said note to declare the same immediately due and payable, or, at his or their
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dated February 25, ,1933, executed by Carlos Kling and wife, Peggy Kling, payable to the orde?
of G.R. Woodward, bearing interest from April 1, 1933, at the rate of eight per cent (8%) i
hereafter placed upon said premises, and at his option may use said proceeds to rebuild or
restore the improvements, or may apply said proceeds to the discharge of the indebtedness
hereby secured, whether then matured or not, deducting therefrom any expenses incurred in
connection with the handling or collection of said funds.
The entire amount of the principal sum hereby secured is being advanced by Robert Maxey at •
request of the grantors herein to the following persons for the following purposes:
1, To Calcasieu Lumber Company, in renewal and extension of the unpaid balance of principal
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to pay said taxes and/or insurance premium, and the amount so paid shall bear interest
from the date of payment at the rate of eight per cent (8%) per annum, and shall be
secured by the liens securing payment of said note.
As additional security for the payment of the sum hereby secured, parties of the first part,
for themselves, their heirs, assigns, and legal representatives, do hereby sell, transfer,
assign unto Robert Maxey, or other owner or holder of said note, all rents and revenues,
whether payable in money or otherwise, together with the landlord’s lien that mayherearter
accrue by reason of any lease or contract now in existence or that may hereafter exist Por
the use ofany or all of the property covered by this deed of trust or securing payment of
the said debt, until the indebtedness hereby secured and all renewals thereof are fully
paid; and so long as there shall be any delinquency hereunder said Robert Maxey, or other
holder of said note, shall have the right, at his option, to demand and receive payment
of said rents and revenues from any and all parties and persons and toapply the same as
received on the amounts delinquent hereunder, but upon the payment of all such delinquent
items, the rents and revenues from said property shall thereby be freed and may be collected
by parties of the first part until further default is made hereunder.
It is further agreed that, after any default shall have been made in any provision of
this deed of trust, the holder of said note shall have the right to require that, beginning
on the first day of the month following such default, the makers of said note or other owner
of the property securing payment thereof shall deposit with said holder one-twelfth (1/12)
of the estimated amount of the annual taxes and insurance premium on said property, which
amount shall be used by the holder of said note for the payment of said taxes or insurance
premium, or so much thereof as can be paid with the amount of money so deposited*
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note, with standard mortgage clause in favor of said holder or holders, and to deposit said
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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/m1/88/?q=%221939-03%22&rotate=0: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Travis County Clerk’s Office.