ACKNOWLEDGEMENT OF PROGRESS PAYMENT,
UNCONDITIONAL WAIVER OF LIEN
Date: File Number:
For and in consideration of the sum of $ _________________, the receipt and sufficiency of which is hereby acknowledges, hereby waives and releases all lien(s) and right(s) of lien(s) now existing or which may hereafter arise for work or labor performed and/or for material furnished by the undersigned or his agent(s) on or at any time before and through the date of ____________ for or concerning construction and/or improvement of the above referenced project.
The undersigned represents and certifies that said sum is in payment for work, labor and/or materials actually performed and/or furnished for construction and/or improvement of the above referenced project.
The undersigned further acknowledges receipt of payment in partial payment up to the date below for all work, labor and/or materials furnished by the undersigned or his agent(s) relating to the construction and/or improvement of the above referenced project, as described in the Construction Contract Documents, including but not limited to subcontractor agreement(s), addenda, change order(s), field orders, and supplemental drawings.
The undersigned hereby represents and warrants that all subcontractors, laborers, materialmen, and other person and/or firms who at any time furnished work, labor and/or materials to or at the request of the undersigned or his agent(s) for or concerning the construction and/or improvement of the above referenced project have heretofore been fully paid for all work, labor and/or materials so furnished and/or will be so fully paid immediately following the undersigned's receipt of the above-referenced sum.
The undersigned acknowledges and agrees that this Unconditional Waiver of Lien includes a waiver of undersigned's mechanics' lien priority date from the undersigned's original date up to the date of the most recent payment. Undersigned subordinates any mechanics' lien rights to the lien of any mortgage or deed of trust existing or subsequently recorded so that the lien is unconditionally prior and superior to undesigned's mechanic's lien rights. This waiver and subordination agreement also applies to any retainage or unpaid invoices up through the date below, the consideration for which is the progress payment advanced.
This Acknowledgement of Progress Payment, Unconditional Waiver of Lien, and Subordination is given by the undersigned for the benefit of and in favor of the following parties including, but not limited to:
Stewart Title Guaranty Company, [Insured Lender and/or Buyer] and owner of the Property.
The individuals signing below on behalf of the respective parties hereto warrant that they are duly authorized to execute this Unconditional Waiver of Lien on behalf of said parties, and that such execution is binding upon parties without further action or ratification. The parties acknowledge their intent that this Unconditional Waiver of Lien and any related signature or record shall be binding whether created, transmitted or effected by traditional or electronic means.
Dated this _____ day of _________, 2019.
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