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.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.