This Conditional Waiver and Release Upon Final Payment is for use by an individual upon receipt of payment to release and waive any notice of lien, any private bond right, any claim for payment and any rights under any similar ordinance, rule or statute
related to payment rights that he or she has on the property. This release covers the final payment to the lien claimant for all work, materials or equipment furnished by the lien claimant to the property or to the lien claimant's customer and does not cover payment for disputed claims, if any. The lien claimant warrants that he or she either has already paid or will use the money he or she receives from the final payment promptly to pay in full all his or her laborers, subcontractors, materialmen and suppliers for all work, materials or equipment that are the subject of this waiver and release.
The Clark Nevada Conditional Waiver and Release Upon Final Payment — Individual is a legal document designed to protect contractors, subcontractors, suppliers, and other entities involved in construction projects in Clark County, Nevada. This waiver serves as evidence that the party executing it has received full payment and releases all potential lien rights against the property. Keywords: Clark Nevada, Conditional Waiver, Release Upon Final Payment, Individual, construction projects, contractors, subcontractors, suppliers, lien rights, legal document. Different types of Clark Nevada Conditional Waiver and Release Upon Final Payment — Individual: 1. Unconditional Waiver and Release upon Final Payment: This type of waiver is issued by the contractor or subcontractor upon receiving full payment. It signifies that the payment has been made, and there are no remaining outstanding amounts. It waives all lien rights against the property without any conditions. 2. Conditional Waiver and Release upon Final Payment: This waiver is also issued after receiving full payment, but it includes certain conditions or contingencies that need to be fulfilled to enforce the waiver. For example, it may be conditioned upon the actual receipt of the payment by the issuing party. 3. Partial Conditional Waiver and Release upon Final Payment: This type of waiver is used when a partial payment has been made, and additional payments are still pending. It releases the rights to claim a lien on the amount paid while preserving the right to claim a lien for the unpaid portion. However, upon receiving full payment, the remaining lien rights are waived. 4. Final Conditional Waiver and Release upon Progress Payment: This variant is applicable when there are multiple progress payments scheduled throughout the construction project. It allows the contractor or subcontractor to waive the lien rights for the specific progress payment received, subject to any conditions mentioned in the document. It is crucial for all parties involved in construction projects in Clark County, Nevada, to accurately understand and utilize the appropriate type of conditional waiver and release upon final payment to ensure compliance with legal requirements and secure their rights to payment.
