US Laws, Codes, Statutes & Cases

                                  TITLE  45
                         LIENS, MORTGAGES AND PLEDGES
                                  CHAPTER 5
                      LIENS OF MECHANICS AND MATERIALMEN
    45-519.  RELEASE OF LIEN ON REAL PROPERTY BY POSTING SURETY BOND -- FORM
OF BOND. The debtor of the lien claimant or a party in interest in the
premises subject to the lien must obtain a surety bond executed by the debtor
of the lien claimant or a party in interest in the premises subject to the
lien, as principal, and executed by a corporation authorized to transact
surety business in this state, as surety, in substantially the following form:
           (Title of court and cause, if action has been commenced)
    WHEREAS, .................... (name of owner, contractor, or other person
disputing the lien) desires to give a bond for releasing the following
described real property from that certain claim of mechanic's lien in the sum
of $ ..........., recorded ..............., ...., in the office of the
recorder in ....................... (name of county where the real property is
situated):
                             (legal description)
    NOW, THEREFORE, the undersigned principal and surety do hereby obligate
themselves to ........................., (name of claimant) the claimant named
in the mechanic's lien, under the conditions prescribed by sections 45-518
through 45-524, Idaho Code, inclusive, in the sum of $ ....... (1-1/2 x
claim), from which sum they will pay the claimant such amount as a court of
competent jurisdiction may adjudge to have been secured by his lien, with
interest, costs and attorney's fees.
    IN WITNESS WHEREOF, the principal and surety have executed this bond at
..................., Idaho, on the ......... day of ............, .....
                         ...........................
                           (Signature of Principal)
                             (SURETY CORPORATION)
                         BY .........................
                            (Its Attorney in Fact)
State of Idaho     )
                   ) ss.
County of ........ )
    On ..............., ...., before me, the undersigned, a notary public of
this county and state, personally appeared ....................... who
acknowledged that he executed the foregoing instrument as principal for the
purposes therein mentioned and also personally appeared
....................... known (or satisfactorily proved) to me to be the
attorney in fact of the corporation that executed the foregoing instrument and
known to me to be the person who executed that instrument on behalf of the
corporation therein named, and he acknowledged to me that that corporation
executed the foregoing instrument.

                                              ................................
                                                 (Notary Public in and for the
                                                             County and State)