Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 636

                                
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or
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the said party of the first part or other holder hereof, until the said indebtedness herein
policy or policies of insurance and pay the premiums therefor and pay such taxes, all for
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amount remaining unpaid on said note, in some good and responsible insurance company
companies approved by the said party of the first part, or other holder of said note,
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 the said property hereinbefore mention-'
ed and described, when the same become due and payable, until the above mentioned indebted-
ness 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 be-
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come due and payable, or fail to pay the said taxes, or any part thereof, on the said pro-
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perty, when the same become due and payable, then the said property of the said part, or
other holder hereof at his option without being under obligation to do so, may take out such
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
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said improvements, according to the said plans and specifications; that the said party of
the first part hereby agrees to be responsible for any damage that may happen to the said
improvements in the course of erection from fire, or from any other cause whatever, until
the same have been completed by the said party of the first part, according to the said
plans and specifications, turned over to and accepted by the said parties of the second
part; that the said party of the first part hereby agrees and binds himself to pay for all
materials and labor used in and performed on the said improvements as the same accrue, and
to have the said improvements completed, according to the said plans and specifications and
ready for occupancy on or before sixty (60) days free from any and all claims on the part
of any and all persons for materials and labor used in and performed on the said improve-
ments for the sum of Thirty-three Hundred and No/100 ($3300.00) Dollars to be paid by the
said parties of the second part to the said party of the first part as hereinafter provided
That the said parties of the second part, in consideration of the foregoing agreement
and undertaking on the part of the said party of the first part, hereby agree, bind them-
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selves and promise to pay to the said party of the first part for the fulfillment of said
agreementtand undertaking at Austin, Travis County, Texas, the said sum of Thirty-three
hundred and No/100 ($3300.00) Dollars to be paid as follows, to-wit:
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Payable on or before Ninety (90) days after date, bearing interest at the rate of six
(6%) per cent per annum, payable after 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 said
property hereinbefore mentioned and 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 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 them, to keep the said improvements insured, at their own expense, against fire for an
amount equal at all times to the aggregate amount remaining unpaid on said note and against
cyclones, tornadoes and other windstorms for an amount equal at all tidies to the aggregate
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