Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 343
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owner and holder of said note, at his option, and without being under obligation
so, may take out such policy or policies of insurance, and pay the premiums there-
and pay such taxes all for and on account of owner, and any such insurance premiums
to do
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°r taxes paid by owner and holder of such note shall from the time of such payment
Owner agrees that so long as the above described note or any part of it remains unpaid,
she will keep the improvements erected on said property fully insured at her own expense
against loss or damage by fire, windstorm and hail in a sum not less than the unpaid
balance^ of said note, in some insurance company or companies having a permit to do
business in the State of Texas, and acceptable to the owner and holder of said note, such
insurance policy or policies providing for mortgage loss clause payable in favor of payee,
or other owner. Qnd hold er of said note, as his interest may appear, and to deposit such
Policy or policies of insurance with payee, or other owner and holder of such note, until
the said indebtedness herein described has been fully paid and satisifed.
Owner further agrees that she will pay before the same become delinquent, all taxes
mnd other valid governmental assessments which may be levied on the above described
Property, until the above mentioned indebtedness has been fully paid and satisfied. In
the event owner fails to procure said policy or policies of insurance or fails to pay
mny of the premiums therefor, as they severally become due and payable, or fails to pay
Said taxes on said property when the same become due and payable, then contractor, or
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in Sherwood Forest, an addition to the City of Austin, Travis County, Texas, according'
to the map or plat of said addition of record in Book 4, page 31, of the Plat Records of
Travis County, Texas, to which said platand .the record thereof reference is here
made for all pertinent purposes.
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Contractor shall furnish and provide first-class materials and labor necessary for
the construction of said improvements and all parts thereof according to said drawings
plans and specifications, and shall deliver such improvements to owner free from all
encumbrances by reason of erection of such improvements, save and except the lien here-
in for provided in the sum of 44,400.00 within ninety (90) working days from date,
or within a reasonable time thereafter. Contractor shall at his own expense and costs
keep the improvements in course of construction insured against loss or damage by fire
or other causes, such policy or policies of insurance to contain loss clause payable to
order of contractor and owner as their respective interests may appear.
Owner, in consideration of the foregoing agreement and undertaking on the part of
contractor, hereby agrees, binds herself, and promises to pay to the order of
contractor at Austin, Travis County, Texas, the sum of Four Thousand Four Hundred
$4,400.00) Dollars, all of such consideration to be paid in accordance with the terms
of one certain mechanic’s lien, promissory note, made executed and delivered by owner to
Jim Fribble, in the principal sum of Four Thousand Four Hundred ($4,400.00) Dollars,
bearing ven date herewith, payable to the order of contractor at Austin, Texas, on
or before ninety (90) days from date, with interest from maturity until paid at the
rate of seven per cent (7%) per annum, said note further providing that all past due
interest shall become as principal and bear the same rate of interest, that its payment
is secured by a valid and subsisting contractor’s, materialman’s, and mechanic’s lien
on the hereinabove described property, and providing for acceleration of maturity at
option of owner and holder for failure on the part of maker to keep and perform tax and
insurance covenants hereinafter set forth, such note containing the usual stipulations
as to attorney’s fees, and said note is made a part hereof as though the same were here
set out word for word.
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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/m1/349/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.