Common use of CONDITIONAL WAIVER AND RELEASE UPON FINAL PAYMENT Clause in Contracts

CONDITIONAL WAIVER AND RELEASE UPON FINAL PAYMENT. Upon receipt by the undersigned of a check from (Maker of Check) in the sum of $ payable to (Amount of Check) (Payee or Payees of Check) and when the check has been properly endorsed and has been paid by the bank upon which it is drawn, this document shall become effective to release any mechanic’s lien, stop notice, or bond right the undersigned has on the job of located at (Owner) to the following extent. This release covers (Job Location) the final payment to the undersigned for all labor, services, equipment, or material furnished on the job, except for disputed claims for additional work in the amount of $ . Before any recipient of this document relies on it, the party should verify evidence of payment to the undersigned. Subject to payment of the amount stated above, the undersigned warrants and represents that (a) all materials delivered to the project by or for the undersigned are for use therein only, (b) title to all work, material and equipment, whether or not incorporated into the project, has passed to the project owner, free and clear of all liens, claims, security interests or encumbrances (hereinafter all referred to as “liens”), (c) all taxes applicable to the materials furnished and the work performed by the undersigned have been fully paid and (d) all laborers, mechanics, subcontractors (direct or indirect) and material suppliers for all work done and for all materials, machinery, equipment, fixtures, tools, scaffolding and appliances furnished for the project by the undersigned and for any other indebtedness connected therewith for which the owner of the project might be responsible have been paid in full. Subject to payment of the amount stated above, the undersigned, for itself and its successors, and on behalf of all persons able to claim through or under the undersigned, (i) waives, relinquishes and releases all liens and right or claim to a lien for labor or materials furnished in the construction, improvement, alteration or repair involved in performance by the undersigned through the release date, (ii) agrees to indemnify, defend, save and hold harmless the owner from all liability, costs and expenses, including reasonable attorneys’ fees, incurred by owner in (A) discharging (by payment, bond or otherwise) or defending suit to enforce any mechanics’ or materialmen’s lien, or any claim to or right of action for such lien, that may be filed and (B) satisfying any claims or demands arising out of, due or that may be made, directly or indirectly attributable to the undersigned or otherwise connected with the project, any work performed or supplies furnished by the undersigned thereunder, or in furtherance of the construction or completion of the undersigned’s work or otherwise connected with the project through the release date and (iii) hereby releases the owner and any future owner of the project and the project itself from all claims, rights of action, liabilities and liens that may be filed or asserted in connection with the undersigned’s contract or otherwise in connection with the project on account of labor or materials furnished by the undersigned through the release date. Dated: By: To (Owner): Contractor: Subcontractor Agreement Date: Project Name: Project Address:

CONDITIONAL WAIVER AND RELEASE UPON FINAL PAYMENT. Upon receipt by the undersigned of a check from (Maker of Check) in the sum of $ payable to (Amount of Check) (Payee or Payees of Check) and when the check has been properly endorsed and has been paid by the bank upon which it is drawn, this document shall become effective to release any mechanic’s lien, stop notice, or bond right the undersigned has on the job of located at (Owner) to the following extent. This release covers (Job Location) the final payment to the undersigned for all labor, services, equipment, or material furnished on the job, except for disputed claims for additional work in the amount of $ . Before any recipient of this document relies on it, the party should verify evidence of payment to the undersigned. Subject to payment of the amount stated above, the undersigned warrants and represents that (a) all materials delivered to the project by or for the undersigned are for use therein only, (b) title to all work, material and equipment, whether or not incorporated into the project, has passed to the project owner, free and clear of all liens, claims, security interests or encumbrances (hereinafter all referred to as “liens”), (c) all taxes applicable to the materials furnished and the work performed by the undersigned have been fully paid and (d) all laborers, mechanics, subcontractors (direct or indirect) and material suppliers for all work done and for all materials, machinery, equipment, fixtures, tools, scaffolding and appliances furnished for the project by the undersigned and for any other indebtedness connected therewith for which the owner of the project might be responsible have been paid in full. Subject to payment of the amount stated above, the undersigned, for itself and its successors, and on behalf of all persons able to claim through or under the undersigned, (i) waives, relinquishes and releases all liens and right or claim to a lien for labor or materials furnished in the construction, improvement, alteration or repair involved in performance by the undersigned through the release date, (ii) agrees to indemnify, defend, save and hold harmless the owner from all liability, costs and expenses, including reasonable attorneys’ fees, incurred by owner in (A) discharging (by payment, bond or otherwise) or defending suit to enforce any mechanics’ or materialmen’s lien, or any claim to or right of action for such lien, that may be filed and (B) satisfying any claims or demands arising out of, due or that may be made, directly or indirectly attributable to the undersigned or otherwise connected with the project, any work performed or supplies furnished by the undersigned thereunder, or in furtherance of the construction or completion of the undersigned’s work or otherwise connected with the project through the release date and (iii) hereby releases the owner and any future owner of the project and the project itself from all claims, rights of action, liabilities and liens that may be filed or asserted in connection with the undersigned’s contract or otherwise in connection with the project on account of labor or materials furnished by the undersigned through the release date. Dated: By: To (Owner): Contractor: Subcontractor Agreement Date: Project Name: Project Address: