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HomeMy WebLinkAboutMinutes - City Council - Regular - 9/26/1935REGULAR MCETING. Lubbock, Texas, Sept. 26, 1935. The City Commission of the City of Lubbock, Texas, met at 1:30 P.M. in Regular Session at the Regular Meeting Place in the City Hall, the following members thereof being present, to -wit: Mayor Ross Td,,vards,C ommissioners Geo.E.Benson, '.B. Price, J.C. Royalty, A.J. Richardson$ 0ity Attorney E' L. Klett, Cityhb. nager W.H. -Rodgers, and City -Secretary '}l.O. Stevesn. Absent: City Secretary -.0. Stevens and Commissioner J.C. Royalty. The Minutes of Regular Meeting of Sept. 12th and Recessed Regular Meetings of Sept. 21st and September 24th, 19359 were read and upon motion by Commissioner Price, seconded by Commissio.r:er Benson, they T7ere unanimously approved. Upon motion by Commissioner Benson, seconded by Commission- er Price, the follocring Resolution carried unanimously. RESOLUTION AUTHORIZING THE DIAYOR TO SUBORDINATE Z.L. VrRIGHT ET AL PAVING LIEN Upon motion by Commissioner Geo. E. Benson, seconded by Commissioner !AI.B. Price, unanimously carried, the hlayor of the City of Lubbock is hereby authorized and directed to execute for and on behalf of the City of Lubbock an instrument in writing duly acknowledged subordinating paving ]Lien created by Alice '+'right and husband Z.L. 'Wright in favor of the City of Lubbock upon Lot Eight (8) and the '``est thirty (W 30) feet of Lot Seven (7)9 in -Block Forty-seven (47) of the Overton Addition to the town of Lubbock in Lubbock County, Texas. Said subordination to make the City's aforesaid paving lien second and inferior to any Home Owners Loan Corporation Loan made or to be made upon said property. The "Second Lien Holder's Agreement" executed by the Mayor of the City of Lubbock for such purpose is 149 hereby ratified and confirmed. Passed and adopted this the 26th day of September, 1935. Ross Edwards -- Mayor ATTTST: 1.H. Rodgers _ Act. City Secretary. SECO17D LIEN HOLDERS' AGREEMENT HESTATE OF TEXAS KN0'W ALL hF_EN BY THESE PRESENTS: COUNTY OF LUBBOCK 77HEREAS, the undersigned (whether one or more) is the oirrner and holder of four Paving Certificates described in a IyIechanic's Lien executed by Alice Wright and husband, Z.L. Wright to 71ty of Lubbock, Texas, dated Jan. 4, 1935, and recorded in Vol. , page of the Mechanic's Lien ^Records of _Lubbock County, Texas; said Pavin�erttificates being secured by a lien upon the land described in said Mechanic's Lien, and ' HE'REAS, Home Owners' Loan Corporation is the holder of a note secured by a first lien upon the above mentioned lands as provided for under the terms of a deed of trust executed by Alice "-right and Z.L. Wright (hereinafter referred to as mortgagorT- to Jaynes Shag, Trustee for ti+,,me O,rrners t Loan Corporation, dated --_, and duly filed for record in Lubbock County, Texas. T._O79 THEREFORE, YNO"' ALL TJIEN BY `i'HES PRESENTS, that the undersigned, for and in considers ion of the benefits accruing to him by virtue of the extension of the first lien indebtedness under the above mentioned deed of trust, executed by mortgagor to James Shaw, Trustee, and in consideration of ?10.00 to hire in hand paid, receipt of which is hereby acknowledged and confessed, has and by these presents does covenant and agree 7ith the Home Owners' Loan Corporation, for the joint and several benefit of the Home Olxners' Loan Corporation and mortgagor, as follows: 1. That the lien securing the indebtedness due and undersigned has been and by these presents is made infdrior to the lien securing the above mentioned indebtedness due Home Owners' Loan Corporation, and the undersigned expressly agrees to and ratifies all the provisions of the above mentioned deed of trust executed by mortgagor to James Shaw, Trustee for Home Owners' Loan Corporation, and agrees that the lien provided for in such deed of trust shall be and is hereby made superior to any and all liens securing indebted- ness due the undersigned. 2. That the unpaid balance of the indebtedness due the under- signed, including all principal and accrued interest, is 3100.00 only, and that all indebtedness due the undersigned over and above such amount has been and by these presents is released, discharged and declared paid. 3. That the undersigned shall not reouire the mortgagor to pay more than 15% of the amount of indebtedness due undersigned as above set out during any one year, such 1510 to include all payments or principal and interest; provided that the undersigned may, at his election, rea_uire pay»tents upon indebtedness due him in an amount equal to 20% of the payments to be made by mortgagor upon his indebt- edness to the Home Owners' Loan Uorporation provided "or in the above mentioned Deed of Trust. 4. That the undersigned will not take or secure any lien of any nature -•rhatsoever upon any property belonging to the rortgagor, real, personal or mixed, to secure the payment of the indebtedness due the undersigned other than the lien herein mentioned upon the land described in the deed of trust executed by mortgagor to James Sha-9 Trustee, as above ref-rred to. 5. That from and after this date the balance indebtedness due and held by the undersigned from the mortgagor shall bear interest at a rate not exceeding 6% per annum or the rate of interest which said indebtedness now bears, whichever is the smaller. 15-V "'itness its hand this the 26th day of 6eptember, A.D. 1935. ATTESTED BY: CITY OF LUBBOCK "' H Road ers By Ross Edwards Actin,,g City Secretary Mayor Motion by Commissioner. Benson, seconded by Commissioner Price, it was ordered to a-npropriate '11,000.00 to the County -City Welfare Assn. Motion by Commissioner Price, seconded by Commissioner Benson, carried unanimously, it was ordered to permit the Goodyear :service station, at Texas Avenue q,nd 13th atreet, to extend driveway, provided that they pay for same, and the City Engineer to work out the best way to do this work. No further business coming up for consideration, the --City Commission Recessed to meet Oct. 7, 197)5, at 10 A.M. Read and approved, this of ATT +IST: oo �ity cret;any. 1935. Mayor