Section 5.073 - Contract Terms, Certain Waivers Prohibited(a) A seller may not include as a term of the executory contract a provision that: (1) imposes an additional late-payment fee that exceeds the lesser of:(A) eight percent of the monthly payment under the contract; or(B) the actual administrative cost of processing the late payment;(2) prohibits the purchaser from pledging the purchaser's interest in the property as security to obtain a loan to place improvements, including utility improvements or fire protection improvements, on the property;(3) imposes a prepayment penalty or any similar fee if the purchaser elects to pay the entire amount due under the contract before the scheduled payment date under the contract;(4) forfeits an option fee or other option payment paid under the contract for a late payment; or(5) increases the purchase price, imposes a fee or charge of any type, or otherwise penalizes a purchaser leasing property with an option to buy the property for requesting repairs or exercising any other right under Chapter 92.(b) A provision of the executory contract that purports to waive a right or exempt a party from a liability or duty under this subchapter is void.Amended By Acts 2005, 79th Leg., Ch. 978, Sec. 4, eff. 9/1/2005.Added by Acts 1995, 74th Leg., ch. 994, Sec. 3, eff. 9/1/1995. Renumbered from Property Code Sec. 5.096 and amended by Acts 2001, 77th Leg., ch. 693, Sec. 1, eff. 9/1/2001.