Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 409
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on this day personally appeared Haywood M. Reese,and Josephine B.
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Claude Wilson
Contractor
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Josephine B. Reese
Owners
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# BEFORE ME, the undersigned authority, a Notary Public in and for
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THE STATE OF TEXAS,
COUNTY OF TRAVIS.
Said County and State,
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company, acceptable to said Association.
Nothing herein shall be construed to create or effect any obligation or liability
against said Association, other than one to pay to Contractor the consideration recited
in the assignment from Contractor to said Association, if, as and when the terms and
conditions set out herein are complied with by Gontractor.
Witness our hands, this 18 day of April, 1939.
Haywood M. Reese
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and -lenAshal 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 Contractor, shall have the right, at its election,
to complete said improvements in order to protect tis 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
paying 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.
It is within the contemplation of all parties to this contract that said indebtedness
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 indebtedness assigned to said Association shall be claimed or asserted, Owners agree-
ing to look only to Contractor for any damages arising therefrom.
In case of any dispute, misunderstanding or disagreement between Owners andContractor
arising out of this contract or the manner of its performance, it is agreed that H. E. Watt-
inger, of Austin, Travis County, Texas, shall be the arbiter of such matters in controversy
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.
And I, Claude Wilson, Contractor, for and in consideration of the sum of Twenty-six
Hundred and No/100 (<$2600.00) Dollars, to be paid as hereinbefore provided by said
Association, have sold, assigned, and conveyed and do by these presents sell, assign
and convey to First Federal Savings & Loan Association of Austin, a corporation, of
Austin, Travis County, Texas, the within mechanic’s and materialmen’s Lien and note being
that certain indebtedness due by Owners to Contractor as hereinabove provided in the
sum of Twenty six Hundred and No/100 ($ 2600.00) 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
Owners, Contractor agrees to keep said improvements insured against fire and tornado,
With mortgage clause in favor of Owners and said Association, as their respective
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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/m1/415/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.