Untitled Texas Attorney General Opinion ( 1939 )

- -
OFFICE OF THE ATTORNEY GENERAL OF TEXAS
AUSTIN
Wm. mlrwite
Criminal Dlstrlot Attorney
Texas
tworeoelved your lett 1939;enQlq&lg copy
or an indrument dated shrevopo June 27, 1959, nd-
dressed to Xotor ,FlnanooOompa port, Loulblam,
nlgned and aoknowledgrdby Vlo ena 9. Wenzel, and
reading aa folloubr
*sinpi0~ oil a lreotitedIn yogr
favor
a note payable In lnstall-
wall aa foil
ponthly ln-
seoured by mortgage
ral l;aiei owned by Simplex
to you aa a aoneolldetlonoS notes
e Company, Inc., and of the maourlty
ltlonally leoure the mame.
"We have pebonally endorsed the aioresald note ot even
date herewith, and In order to further moure the mme
and provide for a meMa of ll~ttldatlon in the event tho
rakers should tall to pay the same aa the inetallments
roepootlvolpmturo, wo do horoby rooognlso that you aro
tge holder of
(Four notos are dosorlbod In amounts ranging
Srom (15,OOO.OO to $28 621.54, dated from January 22,
1934, to July 22, 193af
payable to your order and exeoutodby Mldway Petroleum
aorporatlon,seourod by deeds of trust eoverlng the 011
"0soII",~l\l,o*
IS
,o.*Eo*.1mua0
haAD~AmT"alI,.L
011*10*WPmovmo
"C." w 7"s
~,~on"W
.**saAb
annurAsmnr*r
Eon. Wm. Eurwltz, Page 2
and gas mining leasehold ownod lt the data of 8ald noter
by Midway Petroleum Corporation ooverlng and efieotlng
(Certain lands are .do8orlbod and being tho wame
lands oovered by an 011 and ge.8 loare oxoouted by Joe
&5~wther to Simplex Oil Company, Inc. on August X?,
aa that the said yiaw4 Petroleum aorporhtionhas
heretofore aeeigned to J. R. CJuerber, TN8tee, oil,
gas and other’ minerals proau00a and 8aved from the
raid property, whloh.18 now owned br ~8.
We further recognize that the 8ala mtee, deed8 OS
trust and assignments aro vallQ,end aubelatlng and
are held by you a8 roourlty for the note of the
Simplex Oil Company, Ino;, of even date herewith for
the sum of #52,931.94 above desorlbod, and we do
hereby pledge all 8ums hereafter aooruing to u8 from
the said Lawther Lease, under the term8 of said assign-
me&e and thentrust agreement8end rupplemental trust
agreement8 oxeouted by ua puriruant thereto.
‘In the oveht Simplex 011 Company, Inc., should 1611 to
met promptly at meturlty any of the lnetallments of the
noto OS even date herewith given by it to Motor Finance
Oompang, Inc., J. R. Querbee, Trustee, ie euthorizod to
pay over to ‘the t38id Motor Finanoe Company, Inc., any
aum8 then in his hauls or thereafter ooming into his
2 hands, which would, under the aforesaid agreement.8 be
payable to Victor Wenzel and Lena S. Wenzel, up to but
not exoeeding a sum 8ufflalent to meet the 8mtured or
maturing obIigatiOn8 of the Simplex Oil Company, Ino.,
to ~Potor Finanoe Co., Inc.
*It ls the true intent of this agreement that, so long
as ang~of the obligations of Simplex Oil Company, InO.
to Motor Finance Company, %-LO., of even date herewith,
remain ‘past due and unpaid, all sums which under tho
recent existing agreements are to be paid by J. R*
&l erbes, Trustee, to Victor Wenzel and Lena S. Venzel,
-shall be paid .by the said Querbee to lhotor Finance
Oompany, Inc. and orodltod on suoh matured obligations,
and that thl8 agreement’ ahall oontinue in force Until
raid note ie 0ompletel.y liquiaatoa.~
Senete Bill No. 24, 46th Legislature, whlah amends ArtioIe
~70476. Revised Civic StRCute8, reads, in part, a8 r0n0w8:
..
Hon. Wm. Eurwltz, Pago 3
"(al Exoopt as horoln otbrrwlao provldod thoro 18
hereby levied and asro88od a tax of Ten (lad) Co&8 on
oaoh 01~3Hundred (~100.00)Dollar8 or iraotlon thorooi,
ovor the first Two Eundrod (@OO.OO) Dollu8, on all
notes and obligation8 80ourod by ohattolrortgego, dood
Of trU8t, neOh8JIi0'8IiOn OOntraOt, trondor*rliM,
oondltlonaltiles oontraot -a all ln8trum0nt8of a
similar nature whlah era filed or rooordod in the ofiioo
of the County alerk under the Regl8ttatl.onLaws o? thi8
State; provld0d that no tax 8hall bo 10~106 on lnrtrumont8
.sooaring an amount or Two Bundroa ((1200.00)Dollera, or .
108s. .Aftor th eliiootivo &to o? thl8 Aut, 'oxoopta8
horolnaftorprovldoa, no 8uoh lnatrumo~tcr 8haL1 b0 ril0a
or rooordsd by any Oounty Clerk in this Stat.6until
there ha8 boon atiixod to 8uoh ln8trumont8tamps in
looordanoedth the provirio~ of thla.8eotlon;G . .*I
You nquod our oplnl6n a8 to whothor ¬ the abovo
a08orlb0d instrument8ust bo 8t8mped in aooordanoewith tho pro-
%l8lon8 of 8ald sonato Bill So. e4Lin order to be rooordod.
It'18 apparint Sra the above lnstrumontthat'ViotorWonaol
apa~LAna 8. Won801 havo or olalm to have -0 lntorost in the 011,
ga8:acd other rinerals ln tho land tbsorlbetl thoreln, and that on
looount thoroof they oxpoot to bo p&&d oortaln rundc~Srom.the opara-
tion of tho lease thereon. Apparently 8uoh l@ere8t ha8 boon deodod
to J. RI @orbon to hold in truet for thornand they lo a o r din& .y
lxpoot to rooolve fro- him anypayments to which thoy.may be lntltlod
3n aooount of fhelr lntereet la suoh nclnoralm.T h eliisot of tho
Instrument id question ia to oreeto a ilen upon the mlnoral lnterost
of Viotor and Lena 6. Wenzel to guarantee payment of the obligation
of )52,931.94 by Simplex 011 Company, Ino. to Yotor,FlnanaoCompany,
Ino. It iu providod.thetif at any time any part of the Slmplox
Oil Company, Ina.* obligation8 should booomo pest duo-and unpaid,
any 8um8 aoar ing to Victor and Lena 8. Wonzol on aooount of their
8aia alneral kltorest .shallbo paid to Hotor.FlninooQ-any, Sno.
.and orodltob on aaid obllgatlon8~oithe Simplex Oil Oompeny, Ino.
The intentionof the partier to oreato a 110~ being aloar',the form
'of tho instrumentla immatorlal. 29 Tox. Jur. p. 1192; Hume v.
xaaef;;, 142 S. W. 934, error mi"u80a; Duman vb Coleman 59
Suoh lien le oroeted by voluntary oontraot and in our
op&n i8 of a slmllar nature to the llsn8,8poolSloallydosorlbod
_ .
I ),
i.
-I’
_ . . ~
.-.;;’
tin. Wm. Eumvlte, Pago 4
ltisaid &mete Bill No. 84. in oui OQlnion suoh instrumentmst bo
6tampOd before it till b0 ontitled to rooord.
Yours very tnaly
ATlmwEYamRALoF~
APPROVED JUL 19, 19S9
oPImoN CObmTrlrE
BY ‘2.D. R.
OhaLrpan
. .
~. .