Travis County Deed Records: Deed Record 627 - Mechanics Liens Page: 65
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holder of said note may
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delinquent, or fail to keep the improvements insured as aforesaid,
premiums therefor when the same severally become due and payable,
appear, and to deposit such policy or policies of insurance with
until the said indebtedness herein described has been fully
iii
ements have been furnished.
installment of principal or interest on said note, when due, then, at the option of the
holder of said note or notes, the note or notes described hereinabove, principaland
interest then accrued, shall at once become due and payable, and suit may be immediately
commenced, at the option of the holder thereof, to collect the same, or to foreclose the
mechanic’s lien aforesaid.
hereinafter mentioned; that the said owner(s) hereby agree and bind themselves,
after the said improvements have been completed by the said contractor, according to the
said plans and specifications, and accepted 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 notes, and against cyclones, tornadoes and other windstorms
for an amount equal at all times to the aggregate amount remaining unpaid on said notes,
in some good and responsible insurance company or companies approved by the said
contractor, or other holder of said note or notes, and to have the policy or policies of
insurance payable to the said holder of said note or notes, as the interest of the said
y for
3• Owner ( s) hereby gives and grants to contractor, and hereto agree that contractor,
his heirs and assigns, have a mechanic’s lien upon the above described improvements and
real property, constituting one body of land and intended to be used and enjoyed in
connection with said improvements, to secure the payment of said promissory note and all
other sums of money which may become due and payable under this contract.
4. It is especially agreed that the entering by owner(s) into possession of said
improvements, or the acknowledgment by them of completion of this contract, as well as
any other sufficient proof, shall be conclusive evidence that all duties and obligations
of contractor have been fully and completely performed.
5. This contract is executed and delivered before any labor or material for the
and it being provided in said notes that if any installment of principal or interest shall
not be paid when due, then, at the optionf the holder hereof, the said promissory
notes, principal and interest then accrued, shall at once become due and payable, and suit
may be immediately commenced, to collect the same and to foreclose the mechanic’s lien
paid and satisfied; that the said owner(s) also hereby agree and 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 las been fully paid and satisfied;
and incase 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, orany part thereof, on the said property, when the same become due and
payable, then, the said holder thereof at his option, without being under obligation 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 owner(s) , and any such premiums of
insurance and taxes, or either, paid by the said holder thereof, shall from the time of such
payment constitute a debt against the said owner (s) in favor of the said holder of said
note or notes, paying the same for the amount so paid, which shall bear interest from the
time of such payment at the ra te of 7 per cent per annum, and the payment of such debt and
interest shall also be secured by the mechanic’s lien aforesaid; and that in case the said
owner(s) shall fail to pay the said taxes, Vr any part thereof, before the same become
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Travis County (Tex.). Clerk's Office. Travis County Deed Records: Deed Record 627 - Mechanics Liens, book, 1939-11/1940-08; (https://texashistory.unt.edu/ark:/67531/metapth1596370/m1/71/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Travis County Clerk’s Office.