Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 445
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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
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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 said party of the first part, or other holder of said
note, may appear, and to deposit such policy or policies of insurance with the said party
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and bind themselves to pay all taxes on the said property hereinbefore mentioned and
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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
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
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
policies of insurance, or fail to pay any of the premiums therefor as they severally become
ments insured, at their own expense, against fire for an amount equal at all times to the
Johnson and payable to the order of B.W. Reinke, on or before June 1, 1239, said note
bearing interest at the rate of seven (7%) per cent per annum from maturity.
and it being 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 commenced, 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 connec-
tion with the said improvements, to secure the payment of the said promissory note herein-
before 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 tart, accor-
ding to the said plans and specifications, and accepted by them, to keep the said improve-
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of the first part, or other 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
to pay any installment or principal or interest on said note, when due, then, at the option
of the holder of said note or notes, the note or notes described hereinabove, principal
and interest then accrued, shall at once become due and payable, and suit may be immediately
Commenced, at the option of the holder thereof, to collect the same, and to foreclose the
mechanic's lien aforesaid.
3. Parties of the second part here state that they own in fee simple free and clear of
811 liens and incumbrances, recorded or unrecorded, except as herein provided, the property
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Policy or policies of insurance and 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 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 part in favor of the said party of the first part, or other holder of said
note or notes, 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,
before the same become delinquent, or fail to keep the improvements insured as aforesaid,
or fail to pay any premiums therefor when the same severally become due and payable, or fail
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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/m1/451/?q=%221939-03%22: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.