Sen. John G. Mulroe
Filed: 4/4/2014
 
 

 

 

 
09800SB3023sam002LRB098 17607 HEP 58256 a



1
AMENDMENT TO SENATE BILL 3023




2    AMENDMENT NO. ______. Amend Senate Bill 3023 on page 3, by 
3replacing lines 13 through 21 with the following:


 
4    "(d) An agreement to waive any right to enforce or claim 
5any lien under this Act, or an agreement to subordinate the 
6lien, where the agreement is in anticipation of and in 
7consideration for the awarding of a contract or subcontract, 
8either express or implied, to perform work or supply materials 
9for an improvement upon real property is against public policy 
10and unenforceable. This Section does not prohibit release of 
11lien under subsection (b) of Section 35 of this Act, nor does 
12it prohibit an agreement to subordinate a mechanics lien to a 
13mortgage lien that secures a construction loan if that 
14agreement is made after more than 50% of the loan has been 
15disbursed to fund improvements to the property or prohibit 
16subordination of the lien, except as provided in Section 21."; 
17and
 
 
 
09800SB3023sam002- 2 -LRB098 17607 HEP 58256 a

1on page 8, by inserting immediately below line 13 the 
2following:
 
3    "Section 99. Effective date. This Act takes effect upon 
4becoming law.".