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The Chicago Title Waiver Format form is an essential document in the realm of construction and real estate transactions in Illinois. This form serves multiple purposes, primarily aimed at waiving any lien rights that contractors or subcontractors may have on a property for work performed or materials supplied. It establishes a clear understanding between the parties involved regarding payments and obligations, thereby preventing potential disputes over mechanics' liens. The document includes vital information such as the company name, property address, and the specific amount of consideration received. Additionally, it requires the contractor to provide a sworn affidavit confirming the payment status and listing all parties involved in the project. By detailing the labor and materials provided, along with any extras that may have been agreed upon, the form ensures transparency and accountability. The inclusion of notary acknowledgment further solidifies the authenticity of the document, making it a critical component for safeguarding the interests of all parties in a construction agreement.
Document Data
| Fact Name | Description |
|---|---|
| Document Purpose | The Chicago Title Waiver Format form is used to waive and release any lien or claim under Illinois mechanics' lien statutes. |
| Governing Law | This form is governed by the laws of the State of Illinois, specifically relating to mechanics' liens. |
| Consideration | The undersigned must acknowledge receipt of a specified dollar amount as consideration for the waiver. |
| Extras Definition | Extras include change orders, both oral and written, that may affect the contract's scope or price. |
| Contractor's Affidavit | The form includes a contractor's affidavit, confirming payment status and the validity of the waivers provided. |
| Payment Confirmation | The contractor must disclose the total contract amount, payments received, and any remaining balance due. |
| Notary Requirement | The document must be subscribed and sworn before a notary public to ensure its legal validity. |
| Signature Requirement | The form requires signatures from the contractor and may include additional parties involved in the project. |
How to Write Chicago Title Waiver Format
Completing the Chicago Title Waiver Format form is straightforward. Follow these steps carefully to ensure all required information is filled out accurately. Once completed, this form will facilitate the waiver of any lien claims related to the specified project.
- Start with the COMPANY NAME section at the top of the form. Write the name of your company.
- Fill in the WAIVER OF LIEN TO DATE section with the appropriate date.
- In the STATE OF ILLINOIS section, write "Illinois."
- In the COUNTY OF section, specify the county where the property is located.
- Complete the Escrow # field with the relevant escrow number.
- Address the TO WHOM IT MAY CONCERN section. State the name of the party to whom the waiver is directed.
- In the WHEREAS clause, enter the name of the party that employed you to furnish materials or services.
- Specify the premises known as section by entering the address of the property.
- Identify the owner of the property.
- In the next line, write the amount in dollars that you are waiving, in the for and in consideration of section.
- In the THE undersigned section, confirm your waiver of any lien or claim regarding the specified premises and improvements.
- Fill in the DATE when you are completing the form.
- Provide your ADDRESS where you can be contacted.
- Sign the form and include your TITLE in the designated area.
- For the CONTRACTOR’S AFFIDAVIT, write your name in the NAME section.
- Indicate your POSITION within the company.
- Fill in the COMPANY NAME again for clarity.
- Specify the building located at section with the address of the construction site.
- Identify the owner of the building.
- State the total amount of the contract including extras and the amount you have received prior to this payment.
- List all parties that provided labor or materials in the designated sections, including their NAMES AND ADDRESSES, WHAT FOR, CONTRACT PRICE INCLDG EXTRAS, AMOUNT PAID THIS PAYMENT, and BALANCE DUE.
- Confirm that there are no other outstanding contracts for the work in the final statement.
- Finally, sign and date the form, and have it SUBSCRIBED AND SWORN TO BEFORE ME by a notary public.
After filling out the form, ensure all information is accurate. Once completed and notarized, submit the waiver as required. This will help protect your interests regarding any potential claims related to the project.
Chicago Title Waiver Format Example
COMPANY NAME
WAIVER OF LIEN TO DATE |
|
S STATE OF ILLINOIS |
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
INCLUDING EXTRAS.* DATE
ADDRESS
SIGNATURE AND TITLE _______________________________________________________________________________
*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT
CONTRACTOR’S AFFIDAVIT
STATE OF ILLINOIS
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 contracts 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 |
||
f.1722 R5/96 |
Provided by Chicago Title Insurance Company |
||
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