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Illinois Final Waiver Of Lien Sample

FINAL WAIVER OF LIEN

STATE OF ILLINOIS

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Gty # _____________________

COUNTY OF _____________________________

Escrow # _____________________

TO WHOM IT MAY CONCERN:

WHEREAS the undersigned has been employed by ____________________________________________________________________

to furnish _____________________________________________________________________________________________________

for the premises known as ________________________________________________________________________________________

of which ___________________________________________________________________________________________ is the owner.

THE undersigned, for and in consideration of _________________________________________________________________

($__________________________) Dollars, and other good and valuable considerations, the receipt whereof is hereby acknowledged,

do(es) hereby waive and release any and all lien or claim of, or right to, lien, under the statutes of the State of Illinois, relating to mechanics’ liens, with respect to and on said above-described premises, and the improvements thereon, and on the material, fixtures, apparatus or machinery furnished, and on the moneys, funds or other considerations due or to become due from the owner, on account of all labor, services, material, fixtures, apparatus or machinery, heretofore furnished, or which may be furnished at any time hereafter, by the undersigned for the above-described premises, INCLUDING EXTRAS.*

DATE ____________________________ COMPANY NAME ________________________________________________________

ADDRESS ________________________________________________________________

SIGNATURE AND TITLE _______________________________________________________________

* EXTRAS INLCUDE BUT ARE NOT LIMITED TO CHANGE ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.

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STATE OF ILLINOIS

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CONTRACTOR’S AFFIDAVIT

COUNTY OF _____________________________

TO WHOM IT MAY CONCERN:

 

 

THE UNDERSIGNED, (NAME) ____________________________________________ BEING DULY SWORN, DEPOSES

AND SAYS THAT HE OR SHE IS (POSITION) __________________________________________________________________ OF

(COMPANY NAME) _______________________________________________________________________________ WHO IS THE

CONTRACTOR FURNISHING __________________________________________________________ WORK ON THE BUILDING

LOCATED AT ________________________________________________________________________________________________

OWNED BY __________________________________________________________________________________________________

That the total amount of the contract including extras* is $______________________________ on which he or she has received

payment of $ __________________________ prior to this payment. That all waivers are true, correct and genuine and delivered

unconditionally and that there is no claim either legal or equitable to defeat the validity of said waivers. That the following are the names and addresses of all parties who have furnished material or labor, or both, for said work and all parties having contracts or sub contracts for specific portions of said work or for material entering into the construction thereof and the amount due or to become due to each, and that the items mentioned include all labor and material required to complete said work according to plans and specifications:

NAMES AND ADDRESSES

WHAT FOR

CONTRACT PRICE INCLDG EXTRAS*

AMOUNT

PAID

THIS

PAYMENT

BALANCE

DUE

TOTAL LABOR AND MATERIAL INCLUDING EXTRAS* TO COMPLETE

That there are no other contacts for said work outstanding, and that there is nothing due or to become due to any person for material, labor or other work of any kind done or to be done upon or in connection with said work other than above stated.

DATE ___________________________ SIGNATURE _______________________________________________________

SUBSCRIBED AND SWORN TO BEFORE ME THIS _______________ DAY OF ___________________________,________,

*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE

ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.

________________________________________________

NOTARY PUBLIC

Copyright ©2005 Greater Illinois Title Company. All Rights Reserved. http://gitc.com/forms/

Compliments of Greater Illinois Title Company; for Internal and External Use.

Universal Doc Ref: GP_IEF0029-20050804-R1-0

Instructions on Utilizing Illinois Final Waiver Of Lien

After completing the Illinois Final Waiver of Lien form, it is important to ensure that all information is accurate and that the form is signed appropriately. This document serves to release any claims related to mechanics' liens on a property. Follow these steps to fill out the form correctly.

  1. Begin by entering the county and escrow number at the top of the form.
  2. In the section labeled "TO WHOM IT MAY CONCERN," write the name of the entity that has employed you.
  3. Specify the type of work you have furnished, detailing the services or materials provided.
  4. Clearly indicate the address of the premises where the work was performed.
  5. Identify the owner of the property.
  6. In the next section, state the amount you are waiving, both in words and numerically.
  7. Provide the date of signing the document.
  8. Enter your company name and address in the respective fields.
  9. Sign the form and include your title beneath your signature.
  10. In the contractor’s affidavit section, fill in your name, position, and company name.
  11. State the total amount of the contract, including any extras, and the amount received prior to this payment.
  12. List the names and addresses of all parties that have furnished labor or materials, along with the corresponding amounts.
  13. Confirm that there are no outstanding contracts or payments due to anyone other than those listed.
  14. Sign and date the affidavit.
  15. Have a notary public witness your signature and complete the notary section.

Misconceptions

Misconceptions about the Illinois Final Waiver of Lien form can lead to confusion among contractors, property owners, and other stakeholders. Below is a list of eight common misconceptions, along with clarifications for each.

  • It is a guarantee of payment. Many believe that signing the waiver ensures they will receive payment. However, it simply acknowledges that payment has been received for the specified work.
  • It eliminates all future claims. Some assume that once the waiver is signed, all rights to any future claims are forfeited. In reality, it only waives claims related to work completed up to the date of the waiver.
  • Only contractors can use the form. There is a misconception that only general contractors can execute the waiver. In fact, subcontractors and suppliers can also utilize this form to waive their lien rights.
  • It must be notarized to be valid. While notarization adds a level of authenticity, it is not a strict requirement for the waiver to be legally binding. The signature of the involved parties is typically sufficient.
  • It applies to all types of property. Some individuals mistakenly believe the waiver applies universally to all properties. However, it is specifically designed for mechanics' liens related to construction and improvement projects.
  • It is a one-size-fits-all document. There is a notion that the form can be used without modification in all situations. Each project may require specific details to be filled in, making it essential to tailor the form to the circumstances.
  • Signing it means you cannot pursue legal action. Many think that signing the waiver precludes any future legal action. However, it only pertains to claims related to the specific work covered by the waiver.
  • It is only for residential projects. Some believe that the waiver is limited to residential properties. In truth, it can be used for both residential and commercial construction projects.

Understanding these misconceptions can help individuals navigate the complexities of lien waivers more effectively and ensure that their rights and obligations are clearly defined.

Documents used along the form

When dealing with construction projects and payment processes in Illinois, several forms and documents complement the Illinois Final Waiver of Lien. Each of these documents serves a specific purpose, ensuring clarity and protection for all parties involved. Below is a list of some commonly used documents.

  • Contractor's Affidavit: This document confirms that the contractor has fulfilled their obligations under the contract. It provides details about payments received and ensures that all necessary waivers are in place, protecting the owner from future claims.
  • Notice of Intent to Lien: This is a formal notice sent to the property owner, informing them of the contractor's intent to file a lien if payment is not made. It serves as a warning and encourages prompt payment to avoid legal action.
  • Preliminary Notice: Often required in Illinois, this notice is sent to the property owner and general contractor at the start of a project. It informs them of the subcontractor's or supplier's involvement and their right to file a lien if not paid.
  • Mechanics' Lien: If payment disputes arise, a mechanics' lien can be filed against the property. This legal claim secures the contractor's right to payment and can lead to foreclosure on the property if not resolved.
  • Change Order: This document outlines any modifications to the original contract, including changes in scope, price, or timeline. It ensures that all parties agree to the new terms, preventing disputes later on.
  • Motorcycle Bill of Sale Form: For those looking to purchase or sell a motorcycle, the official Motorcycle Bill of Sale document is crucial for ensuring a smooth transaction and proper ownership transfer.
  • Payment Application: This form is used by contractors to request payment for work completed. It typically includes a breakdown of work performed and materials used, providing transparency in the billing process.
  • Final Release of Lien: Similar to the Final Waiver of Lien, this document confirms that all parties have been paid in full and releases any claims against the property. It is essential for closing out a project without future disputes.

Understanding these documents can help ensure a smoother process in construction projects. Each form plays a vital role in protecting the rights of contractors, subcontractors, and property owners alike. Always consider seeking professional advice to navigate these matters effectively.