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Amend SB 629 (Senate committee printing) as follows:                         
	(1)  In SECTION 5 of the bill, in added Subdivision (1), 
Subsection (b), Section 5.085, Property Code (page 4, line 7), 
strike "or".
	(2)  In SECTION 5 of the bill, in added Subdivision (2), 
Subsection (b), Section 5.085, Property Code (page 4, line 10), 
strike the period and substitute:

; or                                                                   
		(3)  placed on the property by the seller prior to the 
execution of the contract in exchange for a loan used only to 
purchase the property if:
			(A)  the seller, not later than the third day 
before the date the contract is executed, notifies the purchaser in 
a separate written disclosure:
				(i)  of the name, address, and phone number 
of the lienholder or, if applicable, servicer of the loan;
				(ii)  of the loan number and outstanding 
balance of the loan;      
				(iii)  of the monthly payments due on the 
loan and the due date of those payments; and
				(iv)  in 14-point type that, if the seller 
fails to make timely payments to the lienholder, the lienholder may 
attempt to collect the debt by foreclosing on the lien and selling 
the property at a foreclosure sale;
			(B)  the lien:                                                        

				(i)  is attached only to the property sold to 
the purchaser under the contract; and
				(ii)  secures indebtedness that, at no time, 
is or will be greater in amount than the amount of the total 
outstanding balance owed by the purchaser under the executory 
contract;
			(C)  the lienholder:                                                  
				(i)  does not prohibit the property from 
being encumbered by an executory contract; and
				(ii)  consents to verify the status of the 
loan on request of the purchaser and to accept payments directly 
from the purchaser if the seller defaults on the loan; and
			(D)  the following covenants are placed in the 
executory contract:  
				(i)  a covenant that obligates the seller to 
make timely payments on the loan and to give monthly statements to 
the purchaser reflecting the amount paid to the lienholder, the 
date the lienholder receives the  payment, and the information 
described by Paragraph (A);
				(ii)  a covenant that obligates the seller, 
not later than the third day the seller receives or has actual 
knowledge of a  document or an event described by this subparagraph, 
to notify the purchaser in writing in 14-point type that the seller 
has been sent a notice of default, notice of acceleration, or notice 
of foreclosure or has been sued in connection with a lien on the 
property and to attach a copy of all related documents received to 
the written notice; and
				(iii)  a covenant that warrants that if the 
seller does not make timely payments on the loan or any other 
indebtedness secured by the property, the purchaser may, without 
notice, cure any deficiency with a lienholder directly and deduct 
from the total outstanding balance owed by the purchaser under the 
executory contract, without the necessity of judicial action, 150 
percent of any amount paid to the lienholder.