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CONDITIONAL WAIVER ON PROGRESS PAYMENT

NOTICE: THIS DOCUMENT WAIVES THE CLAIMANT'S LIEN, PAYMENT BOND, AND OTHER CLAIM RIGHTS EFFECTIVE ON RECEIPT OF PAYMENT. A PERSON SHOULD NOT RELY ON THIS DOCUMENT UNLESS SATISFIED THAT THE CLAIMANT HAS RECEIVED PAYMENT. THIS FORM IS PRESCRIBED BY California Civil Code §§ 8132–8138.

On receipt by the signer of this document of a check from Your Company in the sum of $4,500.00 payable to Precision Plumbing, and when the check has been properly endorsed and has been paid by the bank on which it is drawn, this document becomes effective to release any mechanic's lien right, any right arising from a payment bond that complies with a state or federal statute, any common law payment bond right, any claim for payment, and any rights under any similar ordinance, rule, or statute related to claim or payment rights for persons in the signer's position, on the property of Your Company located at 123 Main St, Suite 4, to the extent of labor, services, equipment, or materials furnished, except for unpaid retention, pending modifications and changes, or other items furnished for which payment has not yet been received.

This waiver and release is executed on the form required by California Civil Code §§ 8132–8138 for waivers of lien and payment bond rights in California. The signer warrants that the signer has already paid or will use the funds received to promptly pay in full all of the signer's laborers, subcontractors, materialmen, and suppliers for all work, materials, equipment, or services provided for or to the above referenced project up to the date of this waiver.

Project / Job Location: 123 Main St, Suite 4
Owner / General Contractor: Your Company
Claimant: Precision Plumbing
Governing Statute: California Civil Code §§ 8132–8138

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