Travis County Deed Records: Deed Record 604 - Deeds of Trust Page: 17
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17
If any part of the indebtedness evidenced by or arising under this deed of trust
e
n8 to
of lato the contrary, all applications of payments on the said indebtedness theretofore
effected shall be held for nautht, and all such payments theretofore or thereafter made
shall be applied on the said indebtedness in the manner most advantageous to the Associat-
ion and shall be applied first in discharge of that portion thereof which is unsecured or
is the least secured and of accrued interest on such portion*
At the Association’s election and without notice to Grantors or any effect on
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C-
and
if any, held by the Association as additional security for the obligations or any of them
the Association, by the person or persons acquiring the said real estate through such trans-
fer .
dtu
abovesaid manner shall be automatically canceled, and the cancelation value thereof shall
otherwise accounted for to the Grantors, unless the Association at the time of such trans-
fer shall endorse on the said note its election to avoid such cancelation and to hold such
shares subject to the abovesaid pledge.
After any sale under this deed of trust the Grantors shall be merely tenants at
bed
action to be cumulative of and in addition to all other remedies and recourse available to
such purchaseyhereunder or otherwise.
s
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herein described, and the abstracts of title or title certificates or policies and unexpir-
be applied on the indebtedness or obligations in the said note or herein described or
deed of trust shall remain in effect and so far as the Association is concerned, shall ex-
of the Association, a transfer of title to, the shares of the Association’s capital stock,
an action of forcible entry and detainer in a justice court of proper jurisdiction, such
The Association may transfer this deed of trust and the note hereby secured, and,
Grantors1 liability hereunder or under the note hereby secured, any absolute transfer of
the property so sold, such purchaser shall be entitled to recover possession thereof by
or the note hereby secured shall prove not to be hereby secured or if any part of the pro-
sufferance of the purchaser at such sale, and if the Grantors fail to vacate immediately
perty purported to be hereby conveyed in trust shall prove not to be subject to the lien
hereof to the full extent of such indebtedness, the, at and to the extent of the Associ-
ation’s election and notwithstanding any prior application of payments, agreement or rule
all right, title and interest therein be waived, and written notice of such waiver be given
ed insurance policies held by the Association in connection herewith, except to the extent
tend to and embrace as well, and shall effect, subject to this deed of trust and the rights
title, either voluntary or involuntary, to the real estate herein conveyed, so long as this
valid provision hereof, express or implied, the laws of the State of Texas now in force,
relating and so far as applicable to the payment and collection of the aforesaid indebted-
ness or for foreclosure or redemption, or otherwise limiting, modifying or curtailing the
Association’s rights hereunder. Except such as are contrary to or inconsistent with any
Neither forbearance on the part of the Association nor any extension of the time
of payment granted by it shall in any degree or respect discharge Grantors’ liability for
the indebtedness evidenced by or arising under this deed of trust or the note hereby se-
cured. Grantors hereby waive and renounce the benefit of all laws now existing or here-
after enacted providing for any appraisal before sale of the property or any part thereof
hereby conveyed in trust, or extending the time for collection of the abovesaid indebted-
ness and foreclosure of this deed of trust, are hereby adopted and madea part hereof. If
any provision or provisions herein be or become void for repugnancy to any valid statutory
in the event of its doing so, any shares of its capital stock that may be pledged in the
ie State of Texas, existent or hereafter enacted
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Travis County (Tex.). Clerk's Office. Travis County Deed Records: Deed Record 604 - Deeds of Trust, book, 1938-12/1939-03; (https://texashistory.unt.edu/ark:/67531/metapth1564405/m1/23/?q=%221939-03%22&rotate=0: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.