Fill and Sign the Utah Release Lien 497427485 Form

Prepared by, recording requested by and return to: ----------------------Above this Line for Official Use Only---------------------Name: ___________________ Company: _____________________ Address: ____________________ City: __________________ State: _____ Zip: __________ Phone: ________________ Fax: _________________ Nature of Document: Notice of Release of Lien and Substitution of Alternate Security Notice of Release of Lien and Substitution of Alternate Security - Corporation (Utah Code Ann. §38-1-28(3)(b)) COMES NOW, ____________________________________ , as a representative of __________________________________ a __________________________________ corporate owner of an interest in real property that is subject to a recorded mechanics’ lien or original contractor or subcontractor affected by a lien, and would state the following: 1. The undersigned disputes the correctness or validity of the lien recorded by ____________________________________ on _____ day of ___________ , 20 _____ , entry number ___________ , book number ___________ and page number ___________ relating to property described as ________________________________________________________________________ _______________________________________________________________________ . 2. Attached is a surety bond or evidence of a cash deposit that meets the requirements of Utah Code Ann. §38-1-28(2)(c). 3. Upon the recording of this Notice, the real property described above shall be released from the mechanics' lien to which this Notice applies, and this Notice is effective as to any amendment to the lien being released if the bond amount remains enough to satisfy the requirements of Utah Code Ann. §38-1-28(2)(c)(ii). 4. If a suit is pending to foreclose the lien at the time this Notice is served upon the lien claimant under Utah Code Ann. §38-1-28(4)(a), the lien claimant shall, within 90 days from the receipt of this Notice, institute proceedings to add the alternate security as a party to the lien foreclosure suit. The alternate security attached to a notice of release of lien shall be discharged and released upon the failure of the lien claimant to commence a suit against the alternate security within the same time as an action to enforce the lien under Section 38-1-11; the failure of the lien claimant to institute proceedings to add the Notice of Release of Lien and Substitution of Alternate Security Page 1 of 3 alternate security as a party to a lien foreclosure suit within the time required by Utah Code Ann. §38-1-28(4)(b); the dismissal with prejudice of the lien foreclosure suit or suit against the alternate security as to the lien claimant; or the entry of judgment against the lien claimant in a lien foreclosure suit, or suit against the alternate security. This the _____ day of _____________ , 20 ______ . _______________________ Signature _____ __________________ Type or Print Name _____ __________________ Title _____ __________________ Corporation Attest: Secretary Acknowledgment of Corporation State of Utah County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me ______________________________ ,who being duly sworn, did say that he/she is the ________________________ of ______________________________ , a corporation, and that said instrument was signed on behalf of said corporation by authority of a resolution of its Board of Directors, and said ______________________________ acknowledged to me that said corporation executed the same. (Seal) Notary Public My commission expires:             Type or Print Name Residing at:       Notice of Release of Lien and Substitution of Alternate Security Page 2 of 3 Certificate of Delivery I, __________________________________ , hereby certify that I have delivered this day a true and correct copy of the foregoing to the lien claimant _________________________________ by: ( ) Personal Service ( ) Mailing a true and correct copy of same by certified U.S. mail, postage prepaid, return receipt requested to __________________________________ . So certified this the _____ day of _______________ , 20 ______ . ________________________ Signature Notice of Release of Lien and Substitution of Alternate Security Page 3 of 3