Travis County Deed Records: Deed Record 598 - Mechanics Liens Page: 76
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Contractor shall furnish and provide first class materials and labor necessary for the
by reason of the erection of such improvements, save and except the lien hereinafter retained
course of construction insured against loss or damage by fire or oter causes, such policy
or policies of insurance to contain loss clause payable to Contractor and Owners as their
respective interests may appear.
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consideration to be paid in accordance with the terms of one certain promissory note, bearing
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principal and bear the same rate of interest, and containing the usual stipulations as to
attorney’s fees, and for acceleration in maturity date, at option of the owner and holder,
in event of failure on part of Makers to keep and perform covenants and obligations herein-
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made a part hereof as though here set out word for word.
Owners agree that so long as the above described note or any part of its remains un-
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insurance policy or policies providing for mortgage loss clause payable in favor of Payee
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and other valid governmental assessments which may be levied on the above described property,
fail to procure said policy or policies of insurance or fail to pay any of the premiums
such taxes all for and on account of Owners, and any such insurance premiums or taxes paid
interest from the time of such payment at the rate of seven per cent (7%) per annum, and the
the improvements insured as herein provided, or fail to pay any premiums for such insurance
fail
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on or before ninety (90) days from date in the principal sum of Four Thousand ($4,000.00)
even date herewith, executed by Owners, payable to the order of Contractor at Austin, Texas,
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by owner and holder of such note shall, from the time of such payment constitute a debt
against Owners in favor of Payee, or other owner and holder of said note, which shall bear
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paid, they will keep the improvements erected on said property fully insured at their own
valid and subsisting mechanic’s lien on the hereinabove described property, and said note is
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business in the State of Texas, and acceptable to the owner and holder of said note, such
until the above mentioned indebtedness has been fully paid and satisfied. In event Owners
therefor, as they severally become due and payable, or fail to pay said taxes, or any part
payment of such debt and interest shall also be secured by the mechanic’s lien aforesaid.
In event Owners fail to pay said taxes before the same become delinquent or fail to keep
paid balance of said note, in some insurance company or companies having a permit to do
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Contractor, hereby agree, bind themselves and promise to pay to the order of Contractor at
thereof, on said property when the same becomedue and payable, then Contractor, or other
Austin, Travis County, Texas, the sum of Four Thousand ($4,000.00) Dollars, all of such
or other owner and holder of said note, as his interest may appear, and to deposit such
construction of said improvements and all parts thereof, according to said drawings, plans
said note further providing that if interest is not paid when due, it shall become as
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expense against loss or damage by fire, windstorm and hail, in a sum not less than the un-
policy or policies of insurance with Payee, or other owner and holder of such note, until
the said indebtedness herein describedhas been fully paid and satisfied.
Owners, in consideration of the foregoing agreement and undertaking on the part of
after set forth and declared, said note further providing that its payment is secured by a
may take out such policy or policies of insurance, and pay the premiums therefor, and pay
Owners further agree that they will pay before the same become delinquent, all taxes
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as the same shall become due and payable.
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owner and holder of said note, at his option, and without being under obligation to do so,
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Dollars, with interest from maturity until paid at the rate of seven per cent (7%) per annum,
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and specifications, and shall deliver such improvements to Owners, free from all encumbrances
sonable time thereafter. Contractor shall, at his own expense, keep the improvements in the
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in the sum of Four Thousand ($4,000.00) Dollars, ninety (90) days from date, or within a rea-
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to pay any installment of principal or in-
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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/m1/82/?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.