DREXEL UNIVERSITY MECHANIC’S LIEN WAIVER AGREEMENT
THIS Agreement made this Drexel University, (the "University") and with an address of
day of
, 200__ by and between (the "Contractor"). with [name of property or building]
WHEREAS, Contractor entered into a contract dated
the University to provide materials and perform labor necessary for the alterations and renovations to with an address of “Premises”) owned and/or operated by the University in Philadelphia, Pennsylvania. NOW, THEREFORE, intending to be legally bound hereby, it is stipulated and agreed for the consideration set forth in the contract referenced above, that neither Contractor nor any subcontractor, material man, or any other person furnishing labor or materials to Contractor under the above-mentioned contract shall file a lien, commonly called a mechanic’s lien, for work done or materials furnished to the said building, buildings, or improvements or any part of the Premises This Agreement and stipulation waiving the right of lien shall be an independent covenant and shall also operate and be effective with respect to work done and materials furnished under any supplemental contract or arrangement for extra work in the erection, construction and completion of such building, buildings or improvements on the Premises. In the event any mechanic’s lien or claim is filed by Contractor, Contractor hereby irrevocably waives any right to a jury trial in any action to strike or discharge the lien. If Contractor files a mechanic’s lien, notwithstanding this waiver, the University or the University’s representatives, shall have the right to discharge the lien by appropriate legal proceedings and to retain out of any payment then due or thereafter to become due to Contractor, an amount sufficient to completely reimburse and indemnify the University against expenses and losses resulting from such lien. Such expenses and losses shall include any attorneys’ fees, bond premiums and other costs incurred in attempting to discharge or remove such lien, and any damages or other losses resulting from such lien, all of which Contractor agrees to pay. If any payment then due to Contractor by the University is not sufficient to reimburse and indemnify the University by way of off-set as aforesaid, Contractor agrees to pay the amount of said difference to the University upon demand. Contractor hereby warrants and represents that at the time of execution hereof no work of any kind has been done and no materials or supplies of any kind have been furnished in the performance of (the
the aforesaid contract or any supplemental contract for extra work in the erection, construction and completion of such buildings or otherwise on the Premises. This Agreement and stipulation is made and intended to be filed with the County Prothonotary in accordance with the requirements of Section 1402 of the Mechanic’s Lien Law of 1963 of the Commonwealth of Pennsylvania (49 P.S. § 1402). IN WITNESS WHEREOF, the undersigned hereunto set hand and seal on this day of
Signed, Sealed and Delivered. In the Presence of: Contractor:
Name: Title: