Texas § 1508.112 APPOINTMENT OF TRUSTEE; ATTORNEY'S FEES.

Texas Statutes

§ 1508.112 — APPOINTMENT OF TRUSTEE; ATTORNEY'S FEES.

Texas § 1508.112

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1508.112 (2026).

Text

Sec. 1508.112. APPOINTMENT OF TRUSTEE; ATTORNEY'S FEES. A contract under which a project is encumbered under this subchapter may provide for:

(1)the selection of a trustee to sell the project on:

(A)a default in the payment of principal or interest; or

(B)a violation of the terms of the encumbrance;

(2)the selection of a successor trustee if the original trustee or a substitute trustee is disqualified or fails to act; and

(3)attorney's fees in an amount not to exceed 10 percent of the unpaid principal.

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Sec. 1508.112. APPOINTMENT OF TRUSTEE; ATTORNEY'S FEES. A contract under which a project is encumbered under this subchapter may provide for:
(1) the selection of a trustee to sell the project on:
(A) a default in the payment of principal or interest; or
(B) a violation of the terms of the encumbrance;
(2) the selection of a successor trustee if the original trustee or a substitute trustee is disqualified or fails to act; and
(3) attorney's fees in an amount not to exceed 10 percent of the unpaid principal.