Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 69
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on the part of any and all persons for materials and labor used in and performed on the
said improvements for the sum of Six Hundred and Eighty-five and no/100 ($685.00) Dollars,
to be paid by the said parties of the second part tothe said party of the first part as
hereinafter provided.
until the said indebtedness herein described has been fully paid and satisfied; that the
said parties of the second part also hereby agreeand bind themselves to pay all taxes on
the said property hereinbefore mentioned and 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 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 thereof at his option, without being under
°b-isation 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, paid by the 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
2. 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-
selves and promise to pay to the said party of the first part for the fulfillment of said
agreement and undertaking at Austin, Travis County, Texas, the said sum of *685.00, evidenced
by one certain promissory note of even date herewith, bearing interest at the rate of
seven per cent per annum, principal and interest payable in monthly installments of $10.00
per month, beginning on the 19th day of January, 1939, and a like payment on the 19th day of
each and every month thereafter until said note, principal and interest, is paid in full,
and said monthly payments to be totaled every six months and applied first to payment of
interest then accrued, and the balance to payment of principal, and containing the usual
ten per cent attorney’s fees clause, 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,she 11
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 saic
property hereinbefore mentioned and describe, 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 indebtedness hereinbefore described; that the said parties of the secord
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 acc-
epted 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 times to
the aggregate amount remaining unpaid on 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 tohave the policy or policies of insurance payable to the said party
-
of the first party 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 of the first part, or other holder hereof
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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/m1/75/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.