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This document serves as a partial waiver of lien and affidavit of payment for labor, materials, and services provided by Okland Construction Co., Inc. for the Mountain Regional Water Office & Maintenance Building project. The waiver grants a release of any lien rights against the premises upon receipt of a payment totaling $1,082,766 up to September 30, 2024, in consideration of the contracted work completion.
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What is partial waiver of lien?
A partial waiver of lien is a legal document that relinquishes a portion of a lien claim while retaining the right to enforce the remainder of the lien.
Who is required to file partial waiver of lien?
Typically, contractors, subcontractors, or suppliers who have placed a lien on a property may be required to file a partial waiver of lien when they receive partial payment for their work or materials.
How to fill out partial waiver of lien?
To fill out a partial waiver of lien, the filer needs to provide information such as the project name, property address, amount of payment received, description of work performed, and any existing lien amounts.
What is the purpose of partial waiver of lien?
The purpose of a partial waiver of lien is to formally acknowledge received payments while allowing the lien claimant to maintain a claim on the remaining balance owed.
What information must be reported on partial waiver of lien?
The information that must be reported includes the names of parties involved, the property location, the original contract amount, the amount paid, and the balance remaining due.
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