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Subcontractors Mechanics lien allowed where bank seized generals funds. 107108 (May 21, 2009), has ruled in favor of the subcontractor in enforcing a mechanics lien. Funds subject to a lien waiver are required to be held by the owner in trust for the subcontractor. May 21, 2009 in litigation , mechanics liens | Permalink.
The difference between secured and unsecured debts. Karalynn also brought up the tendency of the industry to pass liability down the chain when drawing up contracts. You are owed a debt. Unsecured credit means the debt is not tied to any collateral. A home mortgage is a common example of secured debt.
Loan proceeds are to be used for working capital, inventory, equipment purchase, and real property improvements but cannot be used for refinancing of existing debt or outstanding debt payments. The private sector participant finances 50 percent of the project cost and takes a first lien on assets pledged as collateral.
00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 61 16 Lien Bond Form. Affidavit of Payment of Debts and Claims Form. Affidavit of Release of Liens Form. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form.
00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 01 15 List of Drawing Sheets. Measured Drawing Information. 00 61 16 Lien Bond Form. Affidavit of Payment of Debts and Claims Form. Affidavit of Release of Liens Form. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form.
New Hampshire’s mechanic’s lien statute, RSA 447:2 , gives a lien to those who “perform labor, provide professional design services, or furnish materials” to improve someone’s real estate. The lien “provides security against the property owner for the value of the labor or materials rendered.”
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