Construction Contractor Lien Waiver

CONSTRUCTION CONTRACTOR LIEN WAIVER

This Construction Contractor Lien Waiver ("Waiver") is made this day of , by and between Contractor Name: with a principal place of business at ("Contractor"), and Owner Name: with an address for notices at ("Owner").

RECITALS

WHEREAS, Contractor performed labor, furnished materials, equipment, or services in connection with the construction, renovation or improvement of certain real property commonly known as (the "Property") as part of the Project known as pursuant to Contract Number: .

WHEREAS, Contractor has submitted invoice number in the amount of $ for labor, materials, equipment or services furnished through and including .

WHEREAS, in consideration of payment as described herein, Contractor desires to waive and release certain lien rights and claims against the Property and Owner to the limited extent set forth below.

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. PAYMENT

Owner represents that payment in the amount of $ has been made to Contractor by means of and received on or about .

2. TYPE OF WAIVER

Contractor elects the following waiver option (check applicable box):

Conditional Waiver Upon Receipt of Payment — This waiver and release is conditioned upon actual receipt and final clearance of the specified payment. If the payment is not timely honored or is returned, this waiver shall be null and void and Contractor's rights to file or enforce mechanics' or materialmen's liens, stop notices or other security interests are preserved to the extent of the unpaid amount. Unconditional Waiver and Release Upon Receipt of Payment — Upon receipt of the specified payment, Contractor unconditionally waives and releases any mechanic's lien, claim of lien, stop notice, or claim against payment or security on the Property to the extent of payment received, without condition and without reservation.

3. RELEASE AND WAIVER

Upon Contractor's receipt or clearance of the payment described in Section 1 (as applicable to the option selected in Section 2), Contractor hereby waives, releases and relinquishes for the portion of payment received any and all rights, claims, liens, demands, causes of action, suits and remedies, whether statutory or common law, including mechanics', materialmen's or suppliers' liens, stop notices, bond claims and equitable liens, that Contractor may have on or against the Property, the Owner, and Owner's interest in the Property arising out of or relating to labor, materials, equipment, rentals, services or insurance premiums furnished through the date specified in this Waiver.

4. REPRESENTATIONS AND WARRANTIES

Contractor represents and warrants that Contractor has paid all subcontractors, suppliers and laborers for work and materials furnished by them to the extent of the payment received and that Contractor has not assigned, transferred or encumbered any claim that would be released by this Waiver, except as disclosed in writing to Owner. Contractor further warrants that no person, firm or entity, other than those listed in Contractor's lien notices or payments, has a lien or claim to be released by this instrument to the extent of the payment received.

5. INDEMNITY

Contractor shall indemnify, defend and hold Owner harmless from and against any and all claims, liabilities, losses, costs and expenses (including reasonable attorneys' fees) arising from claims by subcontractors, suppliers or laborers that would have been released by this Waiver but for Contractor's failure to pay subcontractors or suppliers as represented herein.

6. REMEDIES

The remedies provided in this Waiver are cumulative and in addition to any other remedies available at law or in equity. If Contractor breaches any representation or covenant in this Waiver, Contractor shall be responsible for Owner's damages resulting from such breach, including reasonable attorneys' fees and costs incurred to enforce this Waiver.

7. NOTICES

All notices under this Waiver shall be in writing and shall be deemed given when delivered personally, sent by nationally recognized overnight courier, or three (3) business days after deposit in the United States mail, postage prepaid, addressed to the party at its notice address set forth above or at such other address as such party designates by written notice to the other.

8. AMENDMENT; WAIVER; COUNTERPARTS

This Waiver may be amended or modified only by a written instrument signed by both parties. No waiver of any provision of this Waiver shall be effective unless in writing and signed by the party against whom enforcement is sought. This Waiver may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Facsimile or electronic signatures shall be binding for all purposes.

9. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Waiver shall be governed by and construed in accordance with the laws of the state in which the Property is located, without regard to choice of law rules. This Waiver constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations and agreements, whether written or oral. If any provision of this Waiver is held to be invalid or unenforceable, the remainder of this Waiver shall continue in full force and effect and the invalid or unenforceable provision shall be reformed to the minimum extent necessary to make it enforceable.

10. ADDITIONAL INFORMATION

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