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Waiver of Stop Lending Notice Rights

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WAIVER OF STOP-LENDING NOTICE RIGHTS-INDIVIDUAL

(A.S. § 34.35.117)

COMES NOW, as a party who has provided and has claimed a lien for labor, materials, services, or equipment for the improvement of the property located at , and would state as follows:

1. The undersigned has been paid in full for all labor, materials, services, or equipment furnished to the jobsite or to person with whom the undersigned contracted, on the job of owner, located at

2. Pursuant to Alaska Statute § 34.35.117, the undersigned does hereby waive and release any stop-lending notice rights relating to the labor, materials, services, or equipment provided for the improvement of the property described above.

3. This Waiver requires no consideration and is valid and binding but may not relate to labor, materials, services, or equipment furnished after the date it is signed.

This the day of , 20

Signature

Print or Type Name

Verification

I say on oath or affirm that I have read the foregoing (or attached) document and believe all statements made in the document are true.

State of

Judicial District (or County) of

or Municipality of

The foregoing instrument was acknowledged before me this (date) by acknowledged).

Signature of Person Taking Acknowledgment

Title or Rank

My Commission Expires:

Serial Number, if any

Enter text✕
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What the Waiver of Stop Lending Notice Rights Is

A Waiver of Stop Lending Notice Rights is a written agreement in which a borrower, lessee, or obligor expressly gives up the right to receive a future stop-lending or cessation-of-funding notice from a lender or funding party. The waiver clarifies the circumstances in which the lender may suspend future disbursements or credit without issuing a separate notice, and it typically forms part of loan closings, forbearance agreements, or amendment packages. Electronic execution is generally accepted under the ESIGN Act (15 U.S.C. ch. 96) and UETA where applicable, subject to any enumerated statutory exceptions.

Why this waiver matters for lenders and borrowers

The waiver reduces ambiguity about notice obligations, streamlines funding decisions, and documents consent to specific conditions under which funding may stop. It helps allocate risk and supports faster administrative handling of loan adjustments.

Why this waiver matters for lenders and borrowers

Who typically completes a Waiver of Stop Lending Notice Rights

Common users include parties involved in financing transactions where conditional disbursements or staged funding exist.

  • Lenders and loan servicers responsible for disbursement control and compliance
  • Borrowers, guarantors, or project sponsors who must consent to funding rules
  • Counsel or closing agents preparing financing or amendment documentation

Core elements to include in a professional waiver

A clear, enforceable waiver combines specific waiver language with context: parties, the triggering events, effective date, consideration, signature blocks, and governing law. Each element narrows ambiguity and supports enforceability in dispute resolution.

Waiver clause

Precise language stating which stop-lending notices are waived, the scope and any express limitations, and whether waiver is partial or full for specified events.

Parties identified

Full legal names and organizational details for lender(s), borrower(s), guarantor(s), and any agent, with entity type and signature authority documented.

Trigger events

List of specific conditions (default, covenant breach, material adverse change, insolvency) that permit suspension of funding without additional notice.

Consideration

Statement of consideration or mutual benefit supporting the waiver such as loan modification terms, fee adjustments, or continued credit availability.

Effective date

Explicit effective date and whether the waiver is retroactive, prospective, or tied to a separate closing.

Governing law & signatures

Governing state law, signature blocks for authorized signatories, and notarization or witness blocks if required for enforceability.

Required information and essential fields

Borrower Name: Full legal name
Lender Name: Full legal name
Loan Identifier: Loan or account number
Effective Date: MM/DD/YYYY
Consideration: Monetary or non-monetary
Signature Block: Authorized signer

Step-by-step: sign and finalize the waiver

Follow these sequential actions to complete, sign, and distribute the waiver efficiently while preserving legal validity.

  • 01
    Prepare document: Draft tailored waiver language and confirm parties.
  • 02
    Populate fields: Enter names, loan ID, effective date, and scope.
  • 03
    Authenticate signers: Use acceptable ID checks or e-authentication.
  • 04
    Execute and retain: Sign, date, notarize if required, and store copy.

How to configure an online signing workflow

Recommended settings for digital completion and secure eSubmission, mapped to common platform features and legal requirements.

Field Configuration
Signature Field Required | enforce signature order
Date Field Auto-fill MM/DD/YYYY on signer completion
Notary Block Include RON option or in-person box
Audit Trail Enable IP, timestamp, and event log

Where to send and how to file the completed waiver

After execution, route the waiver to the appropriate parties and retain copies in the loan file or public records if required.

  • Lender File: Place original or certified copy in loan servicing record.
  • Borrower Copy: Provide an executed copy to the borrower promptly.
  • Closing Counsel: Deliver signed set to counsel for retention.
  • Public Recording: Record only if waiver affects recorded instruments.

Technical and platform considerations for eSigning

Choose a platform that supports signed PDFs, secure authentication, and reliable audit trails while meeting your compliance needs.

  • Supported Formats: PDF and DOCX preferred
  • Authentication Options: Email, SMS code, or stronger methods
  • Integrations: CRM and document storage connectors

Key timelines and processing expectations

Timelines depend on transaction type, signing method, and any applicable RON/session retention rules; plan for both execution and recordkeeping steps.

Effective Date Deadline:

Must be signed by the specified closing date

Party Delivery:

Provide executed copy within 5 business days

RON Retention:

Audio-video records retained 5–10 years per RON rules

Recordation Window:

If recorded, file in county within lender-specified timeframe

Document Retention:

Maintain original in loan file for applicable retention period

Common mistakes to avoid

  • Using informal or ambiguous waiver language that fails to identify exact notices or events
  • Entering inconsistent party names or loan identifiers that misapply the waiver
  • Skipping required authentication, notarization, or witness steps when state law demands them
  • Failing to provide consideration or record evidence that supports the waiver's enforceability

Risks and consequences of an incorrect waiver

Unenforceable Waiver: Waiver may be void if formalities are missing
Contract Dispute: Leads to litigation over funding obligations
Regulatory Exposure: Potential compliance review or fines
Operational Delay: Funding interruptions and administrative rework
Tax or Reporting Impact: Incorrect party data triggers reporting issues
Reputational Harm: Relationship strain with counterparties

Who has authority to sign this waiver

Lender Signatory

An authorized officer, loan servicing manager, or agent designated in the lender's corporate records must sign; include title and attach an authorization if signing capacity is not obvious.

Borrower Signatory

For individuals, the borrower signs personally; for entities, an officer or authorized representative signs and should reference a corporate resolution or power of attorney when requested.

Practical scenarios where this waiver is applied

Real-world situations show how waivers reduce friction during staged funding and dispute resolution.

Construction Draws

A general contractor signs a waiver to permit lender draw suspensions without separate notice

  • trigger events listed clearly
  • The waiver prevented a stop-work dispute during a material-cost escalation and clarified funding criteria for all subcontractors and sureties.

Loan Amendment

A project sponsor agrees to a waiver as part of a loan modification

  • lender required updated covenants
  • Including the waiver in the amendment reduced the need for additional administrative notices and expedited disbursements under revised terms.

Frequently asked questions about validity, signing, and revocation

Answers to common questions about enforceability, e-signatures, notary needs, and how to revoke or correct a waiver.


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eSignature platform pricing and capability snapshot for executing waivers

Representative vendor pricing and feature indicators to consider when choosing a platform for secure signing and retention. No datestamps are included.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

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