Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 220
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on or before ninety working days from date free from any and all claims on the part
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may appear, and to deposit
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of any and all persons for materials and labor used in and performed on the said
improvements for the sum of Fifty-two Hundred and no/100 (45200.00) Dollars, to be paid
by the said parties of the second part to the said party of the first part as hereinafter
provided.
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the first part, or other
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said party of the first part, or other holder of said note,
such policy or policies of insurance with the said party of
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2• That the said parties of the second part, in consideration of the foregoing agree-
ment and undertaking on the part of the said party of the first part, hereby agree, bind
themselves and promise to pay to the said party of the first part for the fulfillment of
said agreement and undertaking at Austin, Texas, the said sum of Fifty-two Hundred and
no/100 (*5200.00) Dollars, as follows, to-wit: The sum of Two Hundred and no/100 ($200.00
Dollars cash to be paid as the work progresses, and the balance to be evidenced by one
certain promissory note of even date herewith executed by the parties of the second part
payable to the order of the party of the first part ninety days after date, and bearing
interest from date at the rate of 7%0 per annum; after maturity, until paid; and it being
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holder hereof, until the said indebtedness herein described has been fully paid and
satisfied; that the said parties of the second part also hereby agree and bind themselves
to pay all taxes on the said property hereinbefore mentioned and described, when the
same become due and payable, until the above mentioned indebtedness has been fully paid
and satisfied; and in case they fail to procure the 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 the said taxes, or any part thereof, on the said property, when the same
become due and payable, then, the said party of the first part, or other holder thereof
at his option, without being under obligation,to do so, may take out such policy or
policies of insurance end 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 by the said party of the first part or other holder thereof, shall
from the time of such payment constitute a debt against the said parties of the second
provided in said note that if any installment of principal or interest shall not be
paid when due, then, at the option of the holder hereof, the said promissory note,
principal and interest then accrued, shall at once become due and payable, and suit
may be immediately conmenced, to collect the same and to foreclose the mechanic’s lien
hereinafter mentioned; that the said party of the first part is hereby declared to
have a mechanic’s lien on the said improvements, and on the said property hereinbefore
mentioned and described, constituting one body of land and intended to be used and
enjoyed in connection with the said improvements, to secure the payment of the said
indebtedness hereinbefore described; that the said parties of the second part hereby
agree and bind themselves, 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
them, to keep the said improvements insured, at their own expense against fire for an
amount equal at all times to the aggregate amount remaining unpaid on said note, and
against cyclones, tornadoes and other windstorms for an amount equal at all times to
the aggregate amount remaining unpaid on said note, in some good and responsible insurance
company or companies approved by the said party of the first part, or other holder of
said note or notes, and to have the policy or policies of insurance payable to the said
party of the first part or other holder of said note or notes, as the interest of the
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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/m1/226/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.