The Laws of Texas, 1934-1935 [Volume 29] Page: 54 of 2,086
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44 GENERAL AND SPECIAL LAWS.
edness will be materially reduced or that a substantial amount
thereof will be refinanced within a reasonable time.
(g) That the defendant or relator will, upon the order of
the court, pay into court for application by the clerk upon the
indebtedness a sum of money equal to the reasonable value of
the income on said property, or, if the property has no income,
then the reasonable rental value of the property involved in
such suit or sale, or a reasonable part of such. income or rental
value, as determined by the court.
(h) That neither the indebtedness demanded nor the lien
securing same has been renewed or created since May 1, 1933.
(i) That the lien sought to be foreclosed was not created
to secure in whole or in part, any indebtedness for money or
property procured by misrepresentation, fraud, defalcation or
SEC. 2. When answer is due in a cause of action instituted
to foreclose a lien on real property, the defendant may file a
verified motion for continuance, embracing allegations covering
the details contained in Section 1 of this Act, and the Court
shall then order the cause continued for such time as may be
deemed sufficient to secure such equitable relief but not beyond
Feb. 1, 1935.
SEC. 3. When there is a threatened foreclosure of a Deed
of Trust Lien that was outstanding prior to May 1, 1933, and
that has not been renewed or extended since that time, or when
a sale of real property under execution or order of sale is
threatened the Judge of the District Court of the county in
which the land or a part thereof is situated, or the Judge of
the Court from which the execution or order of sale is issued,
upon presentation of a varified petition embracing allegations
covering the conditions contained in Section 1 hereof, may in
his discretion issue an order temporarily restraining the sale
under the Deed of Trust, order of sale or execution. In such
cases the Judge shall set for a hearing on the petition within
ten (10) days from the date of the restraining order and shall
cause notice to be given to the parties against whom complaint
is made in the manner now provided by law, and upon such
hearing, if the allegations in the petition are found to be true,
the Judge may, in his discretioin, grant a temporary injunction
restraining the sale for a reasonable time, not beyond Feb.
1, 1935. Provided however, that no such injunction or restraining
order shall be granted where the property involved
is delinquent in the payment of taxes accruing to any subdivision
of government for more than two tax-paying years at
the time the petition is presented or as to the time the judgment
of foreclosure was rendered. Provided further that in
event the petitioner shows to the satisfaction of the court that
there exists a substantial equity in the property over and above
the amount of the indebtedness, interest, and accrued taxes he
shall be entitled to enjoy the benefits of this Act and the judge
may grant such temporary injunction regardless of the fact
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1934-1935 [Volume 29], book, 1935; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth17292/m1/54/: accessed February 25, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .