PARTIAL WAIVER AND RELEASE BY SUBCONTRACTOR/SUPPLIER

For and in consideration of the payment of $____________, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned does hereby waive, release, and relinquish any and all rights, claims, demands, liens, claims for relief, causes of action and the like, whether arising at law, under a contract, in tort, in equity or otherwise, which the undersigned has now, may have had or may have in the future, arising out of the undersigned performing work, supplying labor, and furnishing materials pursuant to a subcontract or purchase order which it had with ________________________ in connection with construction of the project known as __________________________________ located in or near ______________________________.

Use of the term ________________________ shall be deemed to mean and refer to __________________, and its agents, representatives, employees, directors, and all others acting on their behalf.

This Waiver and Release applies to all facts, acts, events, circumstances, changes, constructive or actual delays, accelerations, extra work, disruptions, interferences and the like which have occurred, or may be claimed to have occurred, prior to the date of this Waiver and Release, whether or not known to the undersigned as the same relate to and involve any work performed, labor supplied, and materials furnished by the undersigned pursuant to any subcontract or purchase order which the undersigned had with _________________________________ on said project but not including any work performed, labor supplied, and materials furnished by the undersigned pursuant to any subcontract or purchase order which the undersigned had with ______________________ on said project.

This Waiver and Release is freely and voluntarily given, and the undersigned acknowledges, warrants and represents that it has fully reviewed the terms and conditions of this Waiver and Release, that is fully informed with respect to the legal effect of this Waiver and Release in return for the payment recited above.

The undersigned further represents that all of its obligations -- legal, equitable or otherwise - related to or arising out of it having performed work, supplied labor, and furnished materials on the above-referenced project, have been fully paid and satisfied, including, but not limited to, the following:

Employees, laborers, materialmen and subcontractors employed by the undersigned;

Labor, materials, equipment and supplies furnished by others to the undersigned; and

Sales and use taxes, social security taxes, income-tax withholding, unemployment insurance obligations, privilege taxes, license fees, and any other taxes and obligations imposed by governmental authorities.

With respect to the foregoing representations and warranties, the undersigned does hereby agree to indemnify and hold harmless ______________, its payment and performance bond surety, if any, the Owner, and any others, against whom a claim is asserted by virtue of involvement or relationship with them, from any and all claims, damages, losses, expenses and the like, which they may incur as a result of any claim being made that the undersigned has not fully paid for all labor, materials and expenses incurred in connection with it having performed work, supplied labor, and furnished materials on the Project, including reasonable attorneys’ fees, court or arbitration costs, and expert witness and consultant fees expended in connection with the defenseof any such claim.

The undersigned further agrees that the making and receipt of payment and execution of this Waiver and Release shall in no way release the undersigned from its continuing obligations with respect to the completion of any work remaining undone, punch list work, warranty and guaranty work, and any other obligations of the undersigned to ____________________ through its subcontractor _________________. Moreover, if the undersigned does hereby consent to and agree to be bound by the terms and conditions of this Waiver and Release and does hereby agree to guarantee the performance of the undersigned with respect to each and every term and condition of this Waiver and Release and to continue in effect the obligations assumed with respect to the original subcontract or purchase order between the undersigned and __________________.

IN WITNESS WHEREOF, on behalf of the undersigned, with full authority,
I have executed this instrument under seal effective
this _____ day of __________, 200_.

SUBCONTRACTOR/SUPPLIER 

___________________________________
(Company Name)

By: ________________________________

Title: _______________________________

Sworn to and subscribed before me this ____ day of _____________, 200__.

My commission expires:____________________

_______________________________
Notary Public

SURETY (if bonded)

_______________________________
(Surety Name)

Attest:_________________________ By: _________________________

Date:__________________________ Title: _______________________

ATTACH POWER OF ATTORNEY

 

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