2005 Arizona Revised Statutes - Revised Statutes §33-1062  Release of stop notice or bonded stop notice

An owner, a construction lender or any original contractor or subcontractor who disputes any stop notice or bonded stop notice may file with the person on whom notice was served a release bond. The release bond shall be executed in a penal sum equal to one hundred twenty-five per cent of the amount claimed in the notice, conditioned for the payment of any amount that does not exceed the penal obligation of the bond and that the claimant may recover on the claim, together with any reasonable expenses including attorney fees awarded by the court. A copy of the release bond shall be served on the stop notice claimant in the same manner required for the delivery of a stop notice. On the filing and service of the release bond, the monies withheld in response to the stop notice or bonded stop notice shall be released promptly.