Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 121
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It is within the contemplation of all parties to this contract that said indebtedness
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arising out of this contract or the manner of its performance.
it is agreed that H. E.
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121
Hattingen, of Austin, Travis County, Texas, shall be the arbiter of such matters in con-
troversy and that his decision shall be final and binding on both parties.
This contract is executed, acknowledged and delivered by Owners and Contractor before
any labor is performed or material furnished under the terms hereof.
or a part thereof is to be assigned by Contractor to said Association, and that in case of
default or error on the part of the Contractor, no set-off or discount as against the in-
debtedness assigned to said Association shall be claimed or asserted, Owners agreeing to look
only to Contractor for any damages arising therefrom.
In case of any dispute, misunderstanding or disagreement between Owners and Contractor,
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struction of said improvements have been satisfied, all deferred payments payable at Austin,
in Travis County, Texas, and to bear interest from maturity until paid by Owners, at the
; rate of 7 per cent per annum, together with ten per cent of the total amount of principal and
interest then due, as collection fees in the event same is placed in the hands of an attorney
for collection or if collected through probate or other judicial proceedings.
Owners hereby give and grant to Contractor and his assigns an express contract lien
and a mechanic's and materialman’s, lien on said land and premises constituting one body
of land and intended to be used and enjoyed in connection with said improvements, and all
improvements thereon, or to be erected thereon, to secure the payment of the contract price
of said improvements, together with all interest and sums to become due thereon, said liens
hereby created to be superior to any other lien of any character whatsoever hereafter fixed
on the property above described; and it is further agreed that failure to complete said im-
provements according to this contract shall not defeat said indebtedness and lien, but in such
case said indebtedness and lien shall exist in favor of Contractor and his assigns for such
contract price, less an amount necessary to complete said improvements in accordance with
this contract, and said Association, as the assignee of Contract,' shall have the right at
its election, to complete said improvements in order to protect its rights on the premises.
Taxes, fire, tornado, hail and gas explosion insurance are to be paid by owners and
in case of failure to pay same the holder of said note and lien shall have the right of pay-
ing same and adding it to the amount due on said note and said taxes and insurance so paid
shall be secured by this mechanic’s and materialman’s lien.
And I, N. S. Johns, Contractor for and in consideration of the sum of Seven Hundred
and Fifty and no/100 (^1750.00) Dollars, to be paid as hereinbefore provided by said Associa-
tion, have sold, assigned and conveyed and do by these presents sel, assign and convey to
First Federal Savings & Loan Association of Austin, a corporation, of Austin, Travis County,
-exas. The Within Mechanic’s and Materialmen’s Lien and Note being that certain indebtedness
due by Owners to Contractor as hereinabove provided in the sum of Seventeen Hundred and Fifty
and no/100 ($1700.00) Dollars,together with all liens hereby created and/or rights, titles
or equities to which Contractor is entitled in law or in equity securing the payment of any
portion of said indebtedness hereby assigned, and Contractor agrees that said indebtedness
hereby assigned shall be secured by a superior lien to that securing any portion of said
indebtedness, if any, not assigned by the express terms of this instrument.
During the erection of said improvements and until final acceptance thereof by the
°wners. Contractor agrees to keep said improvements insured against fire and tornado, with
mortgage clause in favor of Owners and said Association, as their respective interests may
appear, for the fun insurable value of said improvements in some reputable company, acceptatle
to said Association.
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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/m1/127/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.