Conditional Lien Waiver
This document is a standard conditional lien waiver. It should be used after a payment has been received but before it has cleared the bank.
NOTICE: THIS DOCUMENT WAIVES RIGHTS UNCONDITIONALLY AND STATES THAT YOU HAVE BEEN PAID FOR GIVEN WORK.
The undersigned, on behalf of itself and its subcontractors and suppliers, hereby acknowledges receipt of a check or draft in the amount of which is payment for all labor, materials, and/or services supplied by the undersigned through for the improvement of the property located at (the “Property”), for the project known as .
Upon the clearance of this check or draft, the undersigned hereby waives and releases all rights and claims of lien, stop notice rights, and bond rights that the undersigned has on the Property for work performed, materials supplied, or services provided by the undersigned up to and including the above-referenced “through date.”
This waiver and release is conditioned upon the actual receipt of the payment referenced above. The undersigned acknowledges that this waiver and release is effective upon the clearance of the payment by the bank.
This waiver is given in consideration for the payment and is not a release of any other claims, including claims for retainage or disputed items, unless those claims are explicitly addressed in this document.
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