Figure: 7 TAC §90.603(d)(15)

"I agree to:

     1.     pay timely all taxes and assessments on the Property;

     2.     preserve the lien's priority as it is established in this Contract;

     3.     pay all prior lien notes that I am responsible to pay and abide by all prior lien instruments;

     4.     because this Contract is for improvements to the Property, keep the Property other than those improvements in good repair and condition during the Work;

     5.     except to the extent that you are required to insure the Work during its progress, keep at my cost and expense, and in a form acceptable to you or your transferees,
             insurance policies having the following coverages issued by an insurance company or companies authorized to engage in the insurance business in Texas with a
             financial rating acceptable to you or your transferees:

             a.     property insurance covering all improvements located on the Property in an amount not more than the actual amount of unpaid debt or the amount of their full
             replacement cost, whichever is less, containing a standard mortgage clause, provided that the amounts of coverage meet all coinsurance requirements of the policy;

             b.     flood insurance, if the property is located in a flood hazard area; and

             c.     any other insurance coverage that you or your transferees may reasonably require;

     6.     deliver the insurance policy to you within ten days of the date of the Contract and deliver renewals to you at least fifteen days before expiration;

     7.     I MAY PROVIDE THE INSURANCE REQUIRED OF ME BY THIS CONTRACT EITHER THROUGH EXISTING POLICIES OWNED OR CONTROLLED BY ME OR
             THROUGH LIKE COVERAGE FROM ANY INSURANCE COMPANY AUTHORIZED TO TRANSACT BUSINESS IN TEXAS;

     8.     comply with all laws, ordinances, and restrictive covenants applicable to the Property; and

     9.     keep any buildings occupied as required by the insurance policy."