Eugene Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment

• Category: Liens - Construction - Mechanics
• State: Oregon
• City: Eugene
• Control #: OR-11-09
• Format: Word; Rich Text

Description

This Conditional Waiver and Release of Claim of Lien Upon Progress Payment is for use by a lienor in consideration of a sum of money to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Progress Payment is conditioned upon the lienor receiving collected funds in for the described work, and if these funds are not received within a specific number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.

The Eugene Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document that allows contractors, subcontractors, suppliers, or other parties involved in a construction project to release their claim of a lien on the property upon receiving a progress payment. This waiver is commonly used in the construction industry to ensure that payments are made promptly and to protect the property owner from potential liens. The conditional nature of this waiver implies that it is only valid under specific conditions, such as the receipt of a progress payment. By signing this document, the claimant acknowledges that they have received a partial payment for the work or materials provided, and they agree to release any claim or right to a lien on the property up to the date of the payment. This form typically includes detailed information about the construction project, including the property owner's name, the contractor's name, and a description of the work or materials being provided. It also specifies the amount of the progress payment received and the date of payment. The claimant must provide their name, address, and contact details, as well as their signature to make the release legally binding. There may be different types of Eugene Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment based on the specific circumstances of the project. Some variations include: 1. Conditional Waiver and Release of Claim of Lien Upon Progress Payment with a final waiver: This waiver not only releases the claimant's lien rights for the progress payment but also for the entire project upon receiving the final payment. It provides complete protection to the property owner when all payments have been made. 2. Conditional Waiver and Release of Claim of Lien Upon Progress Payment with no final waiver: This waiver only releases the claimant's lien rights for the progress payment while preserving their rights to file a lien for any remaining unpaid amounts. It allows the claimant to retain some leverage until all payments are fulfilled. 3. Partial Conditional Waiver and Release of Claim of Lien Upon Progress Payment: This waiver is used when the claimant receives a partial payment for the progress made on the project. It releases the claimant's lien rights only for the amount specified in the progress payment and preserves their rights to file a lien for the remaining unpaid portion. The Eugene Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is an essential document in the construction industry. It helps facilitate timely payments, protect the property owner's interests, and limit potential legal disputes regarding liens. It is advised to consult with a legal professional or refer to the specific laws and regulations of Eugene, Oregon, to ensure compliance when utilizing this waiver form.

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