Mechanics' Lien Law Clause Samples
The Mechanic's Lien Law clause establishes the rights of contractors, subcontractors, and suppliers to claim a legal interest in a property if they are not paid for labor or materials provided during construction or improvement projects. In practice, this clause outlines the procedures for filing a lien, the timeframes involved, and the responsibilities of the property owner to address any such claims, such as requiring lien waivers or proof of payment before releasing funds. Its core function is to protect those who contribute to a property's value by ensuring they have a legal remedy to secure payment, thereby reducing the risk of nonpayment in construction projects.
Mechanics' Lien Law. Mortgagee shall be and hereby is authorized and empowered to do, as mortgagee, all things provided to be done in the mechanics' lien laws of the State of Ohio (including Section 1311.14 of the Ohio Revised Code), and all acts amendatory or supplementary thereto.
Mechanics' Lien Law. (a) Notice of Contract, Mechanic's Lien. Unless or until a ▇▇▇▇ ▇▇▇▇ is in full force and effect which prevents or eliminates the encumbrance of the Project by any lien under the Mechanic's Lien Law, the Lender may withhold or refuse to fund any advance hereunder if:
(i) a Notice of Contract has been filed under Section 4 of the Mechanic's Lien Law; or
(ii) a Notice of Contract has been filed by the Contractor under Section 2 of the Mechanic's Lien Law, unless (x) the Project does not involve the construction of at least one, but not more than four, dwelling unit and (y) with respect to the subject Borrower's Requisition, an accurately completed and valid Lien Form has been provided to the Lender with a Payment Period Date no more than twenty-five days before the date of the funding of such advance, such Lien Form to provide that subject to the payment of the amount set forth in the Borrower's Requisition, the Contractor waives any and all lien rights for labor and materials, or rental equipment, appliances or tools, performed or furnished through the applicable Payment Period Date, except for Retainage, unpaid agreed or pending change orders, and disputed claims as stated in the Lien Form; or
(iii) any Other Mechanic's Lien has been filed or established.
Mechanics' Lien Law. The Lender shall be and hereby is authorized and empowered to do, as mortgagee, all things provided to be done in the mechanics’ lien laws of the State of Michigan (including Sections 570.1101 et seq., Michigan Compiled Laws) and all acts amendatory or supplementary thereto.
Mechanics' Lien Law. (a) Initial Advance. In the event that for any reason the initial Advance is not funded on the Closing Date, the terms and provisions of ss.12.6(a) and (b) shall be applicable for the initial Advance.
(b) ▇▇▇▇ ▇▇▇▇. [Intentionally Omitted.]
Mechanics' Lien Law. If requested by the Lender or if a Section 2 Lien has been filed, an accurately completed and valid Lien Form executed by the Contractor, such Lien Form to provide that subject to the payment of the Retainage, the Contractor waives any and all lien rights for labor and materials, or rental equipment, appliances or tools, performed or furnished for the Project.
Mechanics' Lien Law. (a) NOTICE OF CONTRACT, MECHANIC'S LIEN. The Lender may withhold or refuse to fund any advance hereunder if:
(i) a Notice of Contract has been filed under Section 4 of the Mechanic's Lien Law; or
(ii) a Notice of Contract has been filed by the Contractor under Section 2 of the Mechanic's Lien Law, unless with respect to the subject Draw Request, an accurately completed and valid Partial Waiver and Subordination of Lien in the form of Schedule 1 to Exhibit "GC" has been provided to the Lender with a Payment Period date no more than twenty-five days before the date of the funding of the such advance;
(iii) any other statutory or common law lien related to claims for labor, materials or supplies has been filed or established and not released.
Mechanics' Lien Law. The Lender is authorized and empowered to do all things permitted to be done by a mortgagee under Sections 1311.14, 5301.232 and 5301.233 of the Revised Code of Ohio and any amendments, supplements, or successor legislation thereto.
Mechanics' Lien Law. Lender shall be and is hereby authorized and empowered to do as mortgagee all things provided in the mechanic's lien laws of Ohio, including, without limitation, Section 1311.14 of the Ohio Revised Code, and all amendments and supplements thereto.
Mechanics' Lien Law. (a) NOTICE OF CONTRACT, MECHANIC'S LIEN. The Lender may withhold or refuse to fund any advance hereunder if:
(i) a Notice of Contract has been filed under Section 4 of the Mechanic's Lien Law; or
(ii) a Notice of Contract has been filed by the Contractor under Section 2 of the Mechanic's Lien Law, unless with respect to the subject Draw Request, an accurately completed and valid Partial Waiver and Subordination of Lien in the form of Schedule 1 to Exhibit "GC" has been provided to the Lender with a Payment Period date no more than twenty-five days before the date of the funding of the such advance;
(iii) any other statutory or common law lien related to claims for labor, materials or supplies has been filed or established and not released.