Travis County Deed Records: Deed Record 604 - Deeds of Trust Page: 76
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pay all lawful taxes on the premises herein conveyed, and if I fail to
trustee or the hold ers of said note may pay the taxes and such payment
pay the taxes, the
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maker hereof, and any such sums so paid shall constitute a lien on the property, or the
holder hereof may declare the said note immediately due and proceed to collect the same,
further providing for 107 attorney’s fees if said note is not paid when due and placed in
the hands of an attorney for collection.
TNow, if my said promissory note, hereinbefore described, principal and interest thereon
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be well and truly paid when due, according to the tenor and effect thereof, and I comply
with all covenants herein contained on my part, which are to be kept and performed, then
this deed of trust shall become null and void, and the property herein conveyed shall be I
released at my expense, but if default is made in the payment of said note, or any instalment
of interest thereon when due, or in case of the breach of any of the covenants herein mentqone
then the said trustee, or his successor in this trust,shall be and is hereby authorized anc
empowered when requested to do so by the holders of said note, after default, to sell the
said property at public auction for cash, between the hours of ten o'clock A. M. and four
o'clock P. M. of the first Tuesday in any month, at the door of the County Court House of
Travis County, Texas, after first posting written notices thereof for three consecutive
weeks prior to the day of sale in three public places in Travis County, one of which shall I
be at the court house door, and after such sale, to make to the purchaser thereof a good
and sufficient deed in fee simple to the premises sold, binding us, our heirs, executors aid I
administrators by the usual covenants and warranties, and any statement of recital of facts I
in such deed as to the non-payments of the indebtedness hereby secured, the existence of such I
indebtedness, notice by advertisements, sale, the receipt of money, and as to the appointment I
of a substitute trustee, as hereinafter provided, shall be prims facie evidence of the tri th l
of such statement or recital, and the Trustee shall apply the proceeds of the said sale as I
follows: First, to the payment of all necessary costs and expenses incident to the execution I
of said trust; including a commission of five (5$) pez cent of the amount of the proceeds or I
sale to the Trustee as his compensation; Second, to the payment of the said note then unpaid, I
including the principal and such interest and attorney's fees provided in said note as shall I
have accrued and all taxes, or other advancements as provided for therein, with interest |
thereon; Third, the balance, if any, shall be paid to me, or my heirs ar assigns. |
And I do hereby covenant that until said indebtedness shall have been fully paid, I will I
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be considered as a part of the expenses of the execution of this trust, and paid as such oi t
of the proceeds of the sale of said premises hereby conveyed, together with interest there on
at the rate of Ten (107) per cent per annum from the time of the payment of such by the
Trustee or holders; provided, however, that the exercise of the right of advancement nerez
provided for shall be at the option of the said Trustee or note holders, and shall in
no wise be considered or constitute a waiver of the right of the holders of said note to
declare the same and all indebtedness hereunder, to be at once due and payable.
In case of the death of the said Marion Fowler, Trustee, or his removal from Travis County,
or of his refusal or inability for any reason to make such sale, or to perform said trust,
then the holder of said note shall have the right and is hereby authorized and empowered to
appoint in writing a suitable person, resident of Travis County, who shall become the trustee
herein as the substitute trustee for the said Marion Fowler, and said Substitute trustee stall
thereupon succeed to all the estate, powers and trusts hereinbefore granted to and vested in
the said Marion Fowler, Trustee.
Witness my hand this 21st day of December, A.D, 1938.
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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/m1/82/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.