1973 J.F. Mayes-lots 1-32, block 1108, Warranty Deed

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" I -lilt . Of the consideration heretofore mentioned, the grantee has paid to the grantors the sum of Ten Dollars ($10.00) in cash and other good and valuable consideration, the receipt and sufficiency whereof is hereby acknowledged and confessed by grantors, and the remaining portion of such consideration, to-wit, the sum of Sixty Thousand and no/lOO ($60,000.00) Dollars is evidenced by and shall be paid according to ( .J'\ en , "" 'f I"'-> ~ ~ sometimeN I the terms and provisions of two certain promissory notes of even date herewith each for the sum of $30,000.00, executed by the grantee, the first of said notes being due and payable to J. F. Mayes, also known as Jim F. Mayes and wife, Marion Mayes at Harris County, Texas, hereinafter called mortgagee, said note bearing interest from date until maturity at the rate of 7.5 per cent per annum and p~yable as follows: in five (5) equal annual installments of $6,000.00 each, , plus accrued interest, with the first installment being due and payable on' the 17th day of January , 197~, and with a like ..... installment plus accrued interest being due and payable on the same day of the same month of each year thereafter until the entire amount, principal and interest, shall have been paid in its entirety; and with the second of said promissory notes being in the principal sum of $30,000.00, executed by grantee and payable to the order of W. D. Mayes and wife, Ida Mayes, and being also payable in five equal annual installments of $6,000.00 each, plus accrued interest, with the first installment being due and payable on the 17th day of Januarv 197 4 , and with a like installment plus accrued interest being due and payable on the same day of the same month of each year thereafter until the entire amount, principal and interest, shall have been fully paid. Said note is further and additiona~ly secured by a deed of trust of the maker thereof to Tom Lay, Trustee, cove!ing the above aescribed property. TO HAVE AND TO HOLD the above described property and premises, y t~ together with all and singular the rights and appurtenances thereto )- , I f ~ , in anywise belonging unto the grantee and grantee's heirs, successors t -2- ,.