Travis County Deed Records: Deed Record 604 - Deeds of Trust Page: 57
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in Grantors* names.
, and after such sale
be sold, one of which shall be at the court-house door of said county
to make, execute and deliver to the purchaser or purchasers thereat,
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Sood and sufficient deed or deeds in fee simple to the property so sold, and to receive
1d Pay out of the proceeds of such sale or sales, first, the expense of advertising the
S8 —e or sales*, secondly, commission to the trustee making the sale or sales of one per cent
° the proceeds therefrom, or such lessor amount as may be agreed upon by the Trustee and
he Association; thirdly, as and when the same shall be or become due and owing to the
Ssociation, the indebtedness evidenced by or arising under this deed of trust or the note
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value thereof shall become the property of the Association.
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Grantors shall make or cause to be made all needful repairs of the property here-
by conveyed in trust and promptly pay for the same, and shall pay, as and when the same
shall be or become due, all taxes and assessments on said property/an4 all liens and en-
cumbrances thereon superior to this deed of trust. So far as Grantors shall fail so to
do, the Association, at any time thereafter and without being obligated so to do, may make
such repairs and pay therefor and pay such taxes and assessments and superior liens and
encumbrances; and all moneys that the Association shall expend in so doing, or in effect-
ing insurance as hereinbefore provided, shall become due and payable from Grantors to the
Association on demand at its office in Austin, Texas, shall bear interest from the date of
expenditure at the rate of eight per cent (8%) per annum and shall be secured by this deed
of trust. The Association may charge any such expenditure against and deduct the amount
thereof from the value of the shares of its capital stock, if any, pledged herewith.
NOW, if Grantors shall pay, or cause to be paid, to the Association, fully and in
the manner provided, all indebtedness that shall become due and payable to the Association
by oi in accordance with the terms of this deed of trust and the note hereby secured, and
shall in all respects well and truly comply with and perform all the covenants and agree-
ments herein'contained in reference to insurance, repairs, taxes and assessments, and su-
perior liens and encumbrances, and shall duly refund and repay to the Association on demand-
all moneys, with the interest thereon, which it shall have expended in pursuance of the
foregoing provisions in paying for insurance and repairs and in paying off taxes and ass-
essments and superior liens and encumbrances, then this deed shall be null and void and the
property herein conveyed shall be released at the cost of the Grantors; otherwise this
deed shall remain in full force and effect, and in the event and during the continuance of
default in any of the abovesaid particulars any one of the Trustees or their successors
shall be authorized and empowered, and under duty at the request of the Association or any
holder of any part of this indebtedness hereby secured, without joinder of holders of other
parts thereof, to sell the property hereby conveyed in trust, in separate parts or in bulk
as the Association or such holder may direct, or, in the absence of such direction, as the
acting trustee may elect, for cash to the highest bidder (and the Association may become the
highest bidder and purchaser at such sale, in which event the amount of its bid after de-
duction of costs attendant upon the sale, to the extent of the indebtedness hereby secured,
may be credited on such indebtedness) at the court-house door of Travis County, Texas, at
public vendue, between the hours of ten o’clock in the forenoon and four o’clock in the
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afternoon (Grantors hereby waiving the operation of any custom or usage as the time of sale)
on the first Tuesday in any month, after giving public notice of the tine, place and terms
of sale and of the property to be sold by posting up, either in person or through an agent
selected by the trustee, at least twenty-one days prior to the day of sale, written or
printed notices thereof in three public places in the county where the said property is to
are-
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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/m1/63/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.