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

• Category: Liens - Construction - Mechanics
• State: Oregon
• City: Hillsboro
• 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 Hillsboro Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to protect the rights of contractors, subcontractors, and suppliers involved in a construction project. This waiver allows these parties to release their claim of lien upon receiving partial payment for work or materials provided on the project. The purpose of the Conditional Waiver and Release of Claim of Lien Upon Progress Payment is to ensure that construction professionals can secure payment in a timely manner, while also offering protection to the property owner. By signing this waiver, the claimant acknowledges that they have received a partial payment and agree to waive any potential lien rights against the property for the amount covered by the payment received. This waiver is conditional because it only applies to the specific payment stated in the document. It does not release any future claims for payment or additional work. It is essential for parties involved in a construction project in Hillsboro, Oregon to complete this document accurately and ensure that it reflects the terms of their agreement. Different types of Hillsboro Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment can include: 1. Conditional Partial Waiver and Release: This document is used when a partial payment has been made for work or materials delivered. It releases the claimant's lien rights for the amount covered by the payment received, but still preserves the right to claim any outstanding amounts. 2. Unconditional Partial Waiver and Release: This waiver is similar to the conditional partial waiver and release, but it is unconditional, meaning that the claimant gives up their right to claim any additional amounts owed after receiving the partial payment. 3. Conditional Final Waiver and Release: This waiver is used when the final payment for a construction project has been made. It releases the claimant's lien rights for the entire project upon receiving the final payment, but it is still conditional on the payment being honored. 4. Unconditional Final Waiver and Release: This document is like the conditional final waiver and release, but it is unconditional. By signing it, the claimant relinquishes their right to claim any further amounts owed for the project. It is crucial for all parties involved in a construction project in Hillsboro, Oregon to understand these different waiver types and choose the appropriate one based on the payment received and the nature of the work completed. Seeking legal advice or consulting with a construction attorney is advisable to ensure the proper completion and compliance with Hillsboro, Oregon laws.

Law summary