Waiver and Release of Lien and Payment Bond Rights Upon Final Payment
STATE OF GEORGIA
The undersigned mechanic and/or materialman has been employed by _______________ (name of contractor) to furnish _______________________(describe materials and/or labor) for the construction of improvements known as __________________ (title of the property or building) which is located in the City of _________, County of _____________, and is owned by _______________ (name of owner) and more particularly described as follows:
(DESCRIBE THE PROPERTY UNPON WHICH THE IMPROVEMENTS WERE MADE BY USING EITHER A METES AND BOUNDS DESCRIPTION, THE LAND LOT DISTRICT, BLOCK AND LOT NUMBER, OR STREET ADDRESS OF THE PROJECT.)
Upon receipt of the sum of $__________, the mechanic and/or materialmen waives and releases any and all liens or claims of liens it has upon the foregoing described property or any right against any labor and/or material bond on account of labor or materials, or both, furnished by the undersigned to or on account of said contractor for said property.
Given under hand and seal this ____ day of __________, _____.
NOTICE: WHEN YOU EXECUTE AND SUBMIT THIS DOCUMENT, YOU SHALL BE CONCLUSIVELY DEEMED TO HAVE WAIVED AND RELEASED ANY AND ALL LIENS AND CLAIMS OF LIENS UPON THE FOREGOING DESCRIBED PROPERTY AND ANY RIGHTS REGARDING ANY LABOR OR MATERIAL BOND REGARDING THE SAID PROPERTY TO THE EXTENT (AND ONLY TO THE EXTENT) SET FORTH ABOVE, EVEN IF YOU HAVE NOT ACTUALLY RECEIVED SUCH PAYMENT, 90 DAYS AFTER THE DATE STATED ABOVE UNLESS YOU FILE AN AFFIDAVIT OF NONPAYMENT PRIOR TO THE EXPIRATION OF SUCH 90 DAY PERIOD. THE FAILURE TO INCLUDE THIS NOTICE LANGUAGE ON THE FORM SHALL RENDER THE FORM UNENFORECABLE AND INVALID AS A WAIVER AND RELEASE UNDER O.C.G.A. § 44-14-366.
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