5-St Geroge Cemetery Plaza CONDITIONAL WAIVER RELEASE UPON PROGRESS PAYMENT.docx
DOCX document 29 KB Posted
- Attached to
- IFB - ST GEORGE CEMETERY PLAZA
- Solicitation number
- 26-298
- Issued by
- Washington County, Utah
About this file
This is a Conditional Waiver and Release Upon Progress Payment form executed by the general contractor for the St George Cemetery Plaza project (Inquiry No. 26-298) for the City of St. George, Utah. The form serves as a conditional release of mechanic's lien rights and contractor bond rights under Utah law upon receipt and payment of a progress payment invoice. The waiver becomes effective once the contractor endorses a check for the specified payment amount and the check is honored by the depository institution. The document applies solely to the progress payment amount for work, materials, and equipment furnished during the specified invoice period and does not extend to retained funds, pending modifications, disputed items, or work invoiced after the stated payment period.
The contractor warrants that funds received from the progress payment will be promptly distributed to all laborers, subcontractors, materialmen, and suppliers for work and materials covered by the waiver and release. The contract opportunity itself requires a bid bond equal to five percent of the bid amount from a surety company licensed in Utah, with one hundred percent payment and performance bonds mandated for project completion. The City of St. George retains the right to reject any or all proposals and waive any formality or technicality in the bidding process.
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Text version
CONDITIONAL WAIVER AND RELEASE UPON PROGRESS PAYMENT
(General Contractor) Project: St George Cemetery Plaza Inquiry No.: 26-298 Undersigned's Customer: City of St. George Invoice/Payment Application Number: ______________________________________________ Payment Amount: ______________________________________________________________ Payment Period: _______________________________________________________________ To the extent provided below, this document becomes effective to release and the undersigned is considered to waive any notice of lien or right under Utah Code Ann., Title 38, Chapter 1, Mechanics' Liens, or any bond right under Utah Code Ann., Title 14, Contractors' Bonds, or Section 63G-6-505 related to payment rights the undersigned has on the above described Property once:
(1) the undersigned endorses a check in the above referenced Payment Amount payable to the undersigned; and
(2) the check is paid by the depository institution on which it is drawn.
This waiver and release applies to a progress payment for the work, materials, equipment, or a combination of work, materials, and equipment furnished by the undersigned to the Property or to the Undersigned's Customer which are the subject of the Invoice or Payment Application, but only to the extent of the Payment Amount. This waiver and release does not apply to any retention withheld; any items, modifications, or changes pending approval; disputed items and claims; or items furnished or invoiced after the Payment Period.
The undersigned warrants that the undersigned either has already paid or will use the money the undersigned receives from this progress payment promptly to pay in full all the undersigned's laborers, subcontractors, materialmen, and suppliers for all work, materials, equipment, or combination of work, materials, and equipment that are the subject of this waiver and release.
Dated: ________________________ Contractor Name: ______________________________________________________ Company Address: _____________________________________________________
| __________________________________________ | _____________________ |
| Signature | Date |
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