'.\~ OFFICE OF THE ATTORNEY GENERAL OF TEXAS
\ AUSTIN

Bonorabla R. V. Ragdoml County AslBiwr Rondwson, 

### hxar

Deer Sir:

In your letter 0 fea* lituattonr

urn fallows

an 

### egnr%ieunt with 

### theb&k 

### xuf&Dixig tohia onem with tibk ti swiyeaid lbkmrrend in addition (rkarstoha6 edranor4

:end that t&m@ ii!BQW &cl to #afd )dslnk the au111 of $25,000.00. In this agrrrdnratthe 6~6 

### data of saiQ $25,,oos.Q0icrfixed to tell dU% in inrtallm*nt* aad am ded of trust is ooatluued in force rad eiteot to mawara thepeyaient of meifl

Miltof rasaep.

you regurat our opinion on to wkathar We tex lsrlrd bp Artials 

### 7Oi.%, Vurnan*a&mctatad CiYlL 

### btatutas iadua 

### On the abora laet~bntm, tknt la. tke drad ai trust taken by the Jooksonvillr Building and 

### Loan4~wxAAtlaa and tkd l~tan~lonHonorable R. V. Reyford, Page 2

agreement between Mr. Skeen end the Overton Rank. Section (e), Article 

### 7047a, Vernon*mAnnotated Civil Statutes, reads 88 followa : wExcept es herein otherwise provided there Is hereby levied end esseeaed e tax vi ten (1Oe) Cants on eaoh OneHundred ($lOO.OO)Dollars or rreotlon thereof, over tka flrat Twoliundrad ($200.00) Rollars, on all notes andobligation6 aeoured bychattel mortgage, deed of truet, meakanlo*s lien oontreat, vendor’s lien, oondltlonal salea oontract end all inrtrumente of ES alrnilnr nature wkiok are filed or recorded in the offlae of Ike County Clerk undsr the Reglstraticn Law8 of t?.is State ; provided that nc tax shell ba levied on in.n;aynta securing anamountof TwoHundred ($200.00)

, or less. krtar tka efreotive date or tkis Act, exoept aa hereinafter provided, no such lnatrument shall befiled or recorded by any County Clerk in this State until there kaa been efrixed to suoh I.stnuaent rtempa In aocordence with the provisiona of tkis reotion; providing further that skoul% tke lnstrumont fl1.d In tha oifloe of the County Clerk be security of an obligation that hes Croparty pleaed ea 8eouritf in e State or Stqtee other then Texas, the tex shall be based upon the mtasanable oash value of ell property pledged In Texas in the proportlon that said property in Texas beara to the total value of tkr property securthe obllRatlon; end providing further that, exerpt aa to renwualr or extsnslonm of accrued lntsrest, the provlslo~ OSthie eeotlon shell not epply to instrumanta given in renewal 

### orextensions of lnstruments theretofora rtemped under the provlsion# of tkie A.ct or the one mended herob*, and *hell not ap-jig to instruments given in the rerunding of exiatlng bonds 

### or obligations wkere the Freceding 

### 1nstNment

## 0rssollrlty w8aetemprd in aaaordenoe with thla Aot or the one emendedhereby. provided further that the tax levied 1:. ttiie Act shall epp;ly to only one infdtrumerit, tke one of tke grsatest denomination, where lreveral lnatru3lente are oontemporeneoualy axeoutud to sacure one obligation; andprovided further that whenonce stamped aa provided herein, en instrument mayba racorded in any numberof counties In this Stata without again baing ~10 etanpad. This section ak;all not apply to lnatrumsnte, notes, or other obligations taken by
or on behalf of the United States or ol’ the StateHonorable R. V. Rsgrord, Pega 

### 3

of Taxsa, or any oorporsta aganoy or inetrumantallty of tha Unltad Stata8, or Oftha Stata of Tama in aurrylng 

### outa gorsrumantal purpoea as azprssaad in any Aot of tha cougrars of tha Unlt6d Statas or of tha ~glslstnre of tha Stste of Taxas* nor rhsll tha provisions of this seation apply to obligations or Instruments esourad by liens on crops and fann or agrlaultural produots, or to llvastook or form lmplaznants, or an abstract of judgmmt.
WI?the amotit eecured by en instrument Is not expressad tharair, or I? any part of the security dasoribed In any suah instrument appears tG be lomtad without the State of Text, tha County Clerk shall mquira 

## pr00rbg writan 

## 4rrid4vit4ofsuch feats **44** nag ba neoaaeary to detsrmlue the amount of the tax dua. m
The zaohadfG*s lien huld by the BulldIng en4 T.aunAssoolatlon avidanaed the seamlndrbtadnam **4s** tar. Brcwnheld 

### priortc the assignment. 'Rams whentha Mabtadnass bald by the Building and Loan Association ma renawad and extendad by the dead of trust, it was sn axtanslon of the orl@ual IAabtadnaee, the Instrument scour 3 nhloh bedbean stanpad. Under the axprssa provlsio~ of the ot, the dead of trust &van by Mr. Boa

### for the benefit of 

### t&aBuilding and ioan Aasocfatlou maybe recorded without payment of the etataptux.

I? we ma wrong In our assumption that tha indabtadnasa wan axtanded upon tha aaaoutlon of the daad of truet and if tha lstter lnstrumeot wss,sim ly givan upon tha sama property to aaaura the suma nGto without Jp ts balrrg axtacdad or renawad, tha 8maerasclt IS rsaohed if *hasa transaotlous wara, to all pmotloal ~purroeaa, contamponmous on*s.

For tha sameressons wareaoh tha aamaraslalt se to tha dead of truet executed by V. R. Skaenamto that pert of tha original Indebtedness wtioh hadnot bean paid. Rowaver, insofar
as tha rams1 note of $25,000 reprassntad fraah monop, or aa oruad lntarast, it must be stasnprd. For 1stanca, I? tha #25,000 note represents a rermwsl of the old lndabtadnass, to the extant of )20,000 and I? tha ramalnlw $5,600.00 repreeects other nonby edvancad or Interest aocrtied on the orlglnel indabtadnass, then tharr **ehculd** be ettsohed to It the mm amountof stalilps (dewould go on a dead of trust 89ourlsq, the **4uzn**

## Of$5.000.00
Yours very truly



### BY Glann R. Law14 **A4414t4nt**