Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 56
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of any and all persons for materials and labor used in and performed on the said improve -
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ments for the sum of Four hundred fifty and 00/100 ($450.00) Dollars to be paid by the said
parties of the second part to the said party of the first part as hereinafter provided.
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said note bearing interest from maturity until paid at the rate of seven per cent per
the principal of said note being payable on or before 60 days after date, and pro-
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said party of the first part, or other holder of said note,
ies of insurance payable to the said party of the first part
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viding if the same should be placed in the hands of an attorney for collection after matur -
ity, or if collected by legal proceedings 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 accru-
ed shall at once become due and payable, and suit may be immediately commenced, at the op-
tion of the holder thereof, to collect the same and to foreclose the mechanic’s lien here
ment and undertaking on the part of the said party of the first part, hereby agree, bind
themselves and promise to pay to the said party of the first part, for the fulfillment of
his said agreement and undertaking at Austin, Travis County, Texas, the said sum of Four
hundred fifty and 00/100 ($450.00) Dollars, on and in accordance with the terms of their
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said parties of the second part, and any such premiums of insurance and taxes, or either,
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2• That the said parties of the second part, in consideration of the foregoing agree-
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one certain promissory note bearing even date herewith, payable to the order of W. S.
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as the interest of the said party of the first part, or other holder of said note, may ap-
pear, and to deposit such policy or policies or insurance with the said party of the first
part, or other holder of saia note, until the said promissory note hereinbefore mentioned
and described has been fully paid and satisfied; that the said parties of the second part
also hereby agree, and bind themselves to pay all taxes on said property hereinbefore men-
tioned 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
policies of insurance, or fail to pay any of the premiums therefor as they severally become
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
of said note, at the option of 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 in-
surance and pay the premiums therefor, and pay such taxes, all for and on account of the
inafter mentioned; that the said party of the first part is hereby declared to have a me-
chanic’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 connection with the
said improvements, to secure the payment of the said promissory note hereinbefore mentioned;
that the said parties of the second part hereby agree, and bind themselves that after the
said improvements ha ve 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 in-
sured, at their own expense, against fire for at least Four hundred fifty and 00/100 Dollars,
and against cyclones, tornadoes and other wind storms for at least Four hundred fifty and
00/100 Dollars, in some good and responsible insurance company or companies approved by the
r., at Austin, Travis County, Texas, said note bein g described and identified as follows:
said note being dated October 10th, 1938, payable to the order of W. S. Drake, Jr., at
Austin, Travis County, Texas, for the sum of Four hundred fifty and 60/100 ($450.00) Dol-
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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/m1/62/?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.