Housing Contracts

I am planning on going to either UT Austin or Baylor but I am waiting on scholarships from both before making a decision. For UT, I have a friend and we want to room together. She did the housing application before I did so she’ll probably get the $300 contract before but if I am unsure if I want to go can she just say that she’s unsure of who she wants to room with or do you have to have a roomie for the contract (I am really unsure of how this contract thing works).

Also, I was trying to find this^^^ in the contract (https://housing.utexas.edu/sites/default/files/TermsAndConditions2019-2020.pdf) and I saw this-
“If you cancel your contract on or before July 1, you will be charged $300 in liquidated damages. If you are a first time freshman not attending the University and you cancel by informing Admissions and Housing of your decision on or before May 1, you will not be charged liquidated damages and your Advance Payment will be refunded”
Is this saying that if I am unsure if I want to go to UT yet, my friend can reserve our room and if I get the contract before I want to commit I just pay the $300 and if Baylor gives me better scholarships and I want to go there, I will get my money back?
I know this probably doesn’t make sense but I am very confused on how this works. If you have any questions and want to help after reading this LONG discussion, please let me know.
Thank you in advance!