Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 612
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of any kind, for an additional ten per cent on the amount to be collected for attorney^
fees, and the said note further providing that if any one of the said installments of
said note shall not be paid when due, then, at the option of the holder thereof, the
whole of the said note, principal and interest then accrued, shall at once become due
and payable, and suit may be immediately commenced, at the option of the holder of
said note, 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 described, constituting one
body of land and intended to be used and enjoyed in connectionwith the said improvements,
secure the payment of the said promissory note 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 the said parties of the second part, to keep the
same insured, at their own expense, against fire, and against cyclones, tornadoes and
other windstorms for an amount equal at all times to the amount remaining unpaid on the
said promissory note, in some good and responsible insurance company or companies approved
the 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 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 of the first part, or other holder of said note, until the whole of said note
has been fully paid and satisfied; and the said parties of the second part also hereby
agree and bind themselves to pay all taxes of every kind and character on the said
property hereinbefore mentioned, and described until the whole of the said note has been
fully paid and satisfied, as the said taxes severally become due and payable; and in case
they fail to procure the said policy or policies of insurance, or fail to pay any premiums
thereforas they severally become due and payable, or fail to pay the said taxes, or any
part thereof, on the said property hereinbefore mentioned, and described as they severally
become due and payable, then the said party of the first part, or other holder of said
note, without being under obligation to do so, may take out such 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,
certain promissory note, bearing even date herewith, payable to the order of Oliver B,
Street, at Austin, Travis County, Texas, for the sum of Fourteen hundred and eighty five
Dollars, and said note bearing interest from date until paid at the rate of seven per cent
per annum, to be included in the payments hereinafter mentioned, and the principal and
interest of said note to be payable in installments as follows: one installment of eighteen
Dollars, or more to be paid on the 15th day of July, A.D. 1939, and one installment of
eighteen Dollars, or more, to be paid on the 15th day of each and every month thereafter
until the said promissory note has been fully paid and satisfied, and the aggregate
of said installments so paid to be applied on the 15th day of January, A.D. 1940, and on the
15 th day of July, A.D. 1940, and on the 15th day of January and July of each and every
year thereafter first to the payment of interest accrued to said dates on said noteand
the balance to the principal, and no credits to be made on said note except on the 15th
day of January, A.D. 1940, and on the 15th day of July, A.D. 1940, and on the 15th
day of January and July of each and every year thereafter until the said note is fully
paid and satisfied, and the said note providing that if the same should be placed in
the hands of an attorney for collection after maturity, or if collected by legal proceedings
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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/m1/618/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.