Release of Liens/Subcontractor’s Statement of Satisfaction Sample Clauses

Release of Liens/Subcontractor’s Statement of Satisfaction. The Contractor warrants and guarantees that title to all Work, materials and equipment covered by an application for payment, whether incorporated in the Project(s) or not, will pass to the City upon the receipt of such payment by the Contractor, free and clear of all liens, claims, security interests or encumbrances and that no Work, materials or equipment will have been acquired by the Contractor or by any other person performing Work at the site or furnishing materials and equipment for the Project(s), subject to an agreement under which an interest therein or an encumbrance thereon is retained by the seller or otherwise imposed by the Contractor or such other person. The Contractor shall, beginning with the second request for payment, attach a Partial Release of Lien/Subcontractor, Subconsultant Statement of Satisfaction for each application for payment. Failure to submit such documentation may delay payments. The City may, in its sole discretion withhold payments for Work performed by Subcontractor, Subconsultant where no release of lien has been submitted. The Contractor shall submit with the final payment request, for any Project(s) where Subcontractor, and/or Subconsultant have performed Work, a Final Release of Lien/Subcontractor, Statement of Satisfaction for each Subcontractor, and Subconsultant marked as a final. Failure to submit such documentation will result in delay in payment or the City withholding from the final payment such funds as necessary to satisfy any Subcontractor, and/or Subconsultant claims. Where the Contractor has submitted a Performance/Payment Bond the Contractor may, in lieu of the Release of Lien/Subcontractor, Subconsultant Statement of Satisfaction, submit Consent of Surety to Requisition Payment.

Release of Liens/Subcontractor’s Statement of Satisfaction. The Contractor warrants and guarantees that title to all Work, materials and equipment covered by an application for payment, whether incorporated in the Project or not, will pass to the Town upon the receipt of such payment by the Contractor, free and clear of all liens, claims, security interests or encumbrances and that no Work, materials or equipment will have been acquired by the Contractor or by any other person performing Work at the site or furnishing materials and equipment for the Project, subject to an agreement under which an interest therein or an encumbrance thereon is retained by the seller or otherwise imposed by the Contractor or such other person. The Contractor shall, starting with the second (2nd) invoice, provide the Project Manager Partial or Final Releases of Lien/Subcontractor's Statement of Satisfaction for the Project. As an option the Contractor may also submits a Consent of Surety authorizing the release of payment Failure to submit such documentation shall result in rejection of the application for payment. The Town may, in its sole discretion withhold any payments for any Work performed by the Contractor where a requested Final Release of Xxxx has not been submitted. A conditional Release of Lien will not be accepted by the Town. Contractor shall utilize the Town’s standard forms, which are available on the Town’s website at xxxx://xxx.xxxxxxxxxx- xx.xxx/xxxxx.xxx?xxxxxx=xxx_xxxxxxx&xxxx=xxxxxxx&xx=000&Xxxxxx=000, unless otherwise approved by the Town’s Procurement Manager.