Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 238
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policies of insurance,
so, may take out such
and pay such taxes, all
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other holder of said note, without being under obligation to do
policy or policies of insurance and pay the premiums therefor,
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property when the same become due and payable, then, the said party of the first part,
or other holder of said note, at the option of the said party of the first part, or
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or fail to pay any of the premiums therefor as they severally be-
or fail to pay the said taxes, or any part thereof, on the said
tioned; 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 described, con-
stituting one body of land and intended to be used and enjoyed in connection with the
said improvements, to secure the payment of the said promissory- note hereinbefore men-
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come due and payable,
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thereof, to collect the same and to foreclose the mechanic’s lien hereinafter men-
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tioned; that the said parties of the second part hereby agree, and bind themselves
that 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 at least $250.00 and
against cyclones, tornadoes and other wind storms for at least 4250.00 in some good and
responsible insurance 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 first part, or other holder of said note, as the interest of
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the said party of the first part, or other holder of said note, may appear, and to
deposit such policy or policies or insurance with the said party of the first part, or
other holder of said note, until the said promissory note hereinbefore mentioned and
described has been fully paid and satisfied; that the said parties of the second part a]
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hereby agree and bind themselves to pay all taxes on said property hereinbefore mentioned
and described, when the same become due and payable, until the said promissory note has
been fully paid and satisfied, and in case they fail to procure the said policy or
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and bearing interest at the rate of x per cent per annum, payable annually, until said
note ha x been fully paid and satisfied and providing if the same should be placed in
the hands of an attorney for collection after maturity, or if collected by legal pro-
ceedings of any kind, for an additional ten per cent on the amount to be collected for
attorney’s fees; and it being provided in said promissory note that if said note or any
installment of interest shall not be paid when due, then, at the option of the holder
thereof, said promissory note, principal and interest then accrued shallat once become
due and payable, and suit may be immediately commenced,, at the option of the holder
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for and on account of the said parties of the second part, and any such premi ums of in-
surance and taxes, or either, paid by the said party of the first part, or other holder
of said note, shall from the time of such payment constitute 8 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 same for the amount so paid, which shall bear interest from the
time of such payment at the rate of eight per cent per annum, and the payment of such
debt and interest shall also be secured by the mechanic’s lien aforesaid; and that in
case the said parties of the second part shall fail to pay the said taxes, or any part
thereof, on the said property before the same become delinquent, or fail to keep the sai
improvements insured as aforesaid, or fail to pay any premiums therefor when the same
severally become due and payable, or fail to pay any one of the said installments of
principal or interest when due, then, at the option of the said party of the first part,
or other holder of said note, the said promissory note, principal and interest then ac-
crued, shall at once become due and payable, and suit may be immediately .commenced, at^.
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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/m1/244/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.