Common use of Bond in Lieu of Waiver Clause in Contracts

Bond in Lieu of Waiver. If a subcontractor refuses to furnish a release or waiver required by District, Contractor may furnish a bond satisfactory to District to indemnify District against such lien. If such lien remains unsatisfied after payments are made, Contractor shall refund to District all money that District may be compelled to pay in discharging such lien, including all costs and reasonable attorneys’ fees.

Bond in Lieu of Waiver. If a subcontractor refuses to furnish a release or waiver required by District, Contractor may furnish a bond satisfactory to District to indemnify District against such lienclaim. If such lien claim remains unsatisfied after payments are made, Contractor shall refund to District all money that District may be compelled to pay in discharging such lienclaim, including all costs and reasonable attorneys’ fees.