Unconditional Waiver & Release of Lien Upon Progress Payment

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Unconditional Waiver & Release of Lien Upon Progress Payment Powered By Docstoc
					This is a document that provides for the release of a lien in respect to the receipt of
progress payments. The lien holder certifies that they have received progress
payments from the debtor. In return for receiving payment, the lien holder agrees to
release the lien registered on certain property belonging to the debtor. This document
can be used by individuals that have a lien on certain property and want to release that
lien based on the receipt of progress payments.
    UNCONDITIONAL WAIVER & RELEASE OF LIEN UPON
                PROGRESS PAYMENT

   THE UNDERSIGNED HEREBY CONFIRMS THE RECEIPT OF ____________
($_______) Dollars from ____________________________ [NAME OF PERSON MAKING
THE PAYMENT] (the “Progress Payment”).

   1. The Progress Payment received by ___________________ [NAME OF PERSON
      RECEIVING PAYMENT] is in respect of ____________________________________
      [DESCRIBE TYPE OF DEBT] for which the undersigned has a lien registered in
      ___________________ [LOCATION WHERE DEBT WAS REGISTERED] as
      registration number _____________ [PROVIDE NUMBER].

   2. The undersigned hereby covenants and agrees that it does hereby release the said lien
      registered in _______________ [PROVIDE LOCATION, AS IN PARAGRAPH
      ONE, ABOVE] as registration number ____________ [PROVIDE NUMBER] against
      _________________ [NAME OF PERSON WHO HAD THE LIEN AGAINST
      HIM/HER] upon its receipt of the Progress Payment as herein mentioned.

   3. The release provided by the undersigned is only subject to the Progress Payment for
      ____________________ and does not and will not cover any retentions retained before
      or after the release date save and except for any ______________ which was provided to
      ________________ before the release for which the payment has not been received by
      the undersigned.

   4. The release provided by the undersigned, shall not in any way, affect any of the terms,
      conditions or rights contained in the original agreement made between the undersigned
      and ___________________.

DATED this ____ day of ___________________, 201_____.



Witness:                                         (Name)

or if party is a Company

                                                 (COMPANY)
                                                 Per:



                                                 Name: __________________
                                                 Title: ___________________
                                                 I have authority to bind the Company.

				
DOCUMENT INFO
Description: This is a document that provides for the release of a lien in respect to the receipt of progress payments. The lien holder certifies that they have received progress payments from the debtor. In return for receiving payment, the lien holder agrees to release the lien registered on certain property belonging to the debtor. This document can be used by individuals that have a lien on certain property and want to release that lien based on the receipt of progress payments.