CONDITIONAL WAIVER AND RELEASE OF MECHANIC’S LIEN
[NAME OF OTHER PARTY]
[OTHER PARTY’S ADDRESS]
Re: Waiver of Mechanic’s Lien on [ADDRESS] Upon Payment
This correspondence is to confirm that upon making the payment reflected hereunder, the undersigned will waive and release any mechanic’s lien right (the “Mechanic’s Lien”) arising from a payment bond pursuant to any state or federal statute, ordinance, common law right, or regulation pertaining to the rights of parties in the position of the undersigned.
The Mechanic’s Lien subject to this correspondence pertains to the following services, which were completed at the property located at [ADDRESS]: [DESCRIPTION OF SERVICES PERFORMED].
The undersigned agrees and acknowledges that it will waive and release its right to the Mechanic’s lien, as reflected in the opening paragraph, upon payment of [AMOUNT], which must be made on or before [DATE].
To the extent that any additional payment is owed to such third parties, the undersigned agrees and acknowledges that it will utilize the funds received to pay such amounts to its laborers, contractors, materialmen, and suppliers for any and all services and/or goods received pursuant to the above-referenced services. Only upon remitting full payment to such third parties shall the undersigned personally retain any such funds.
Please reach out to me directly should there be any questions or concerns with regard to the above.
STATE OF ______ )
COUNTY OF ______ )
I, ____________________________________. a Notary Public, do hereby certify that on this ______ day of ___________________, 202___, personally appeared before me ___________, known to me to be the person whose name is subscribed to the foregoing instrument, and swore and acknowledged to me that he executed the same for the purpose and in the capacity therein expressed, and that the statements contained therein are true and correct.
Notary Public, State of ________
Name, Typed or Printed:__________________________________________
My Commission Expires:___________________________