Terms Used In Arizona Laws 33-1061

• Bonded stop notice: means a stop notice that is given to any construction lender and that is accompanied by a bond executed solely by one or more surety companies authorized to transact surety business in this state pursuant to Title 20, Chapter 2, Article 1 in an amount equal to one hundred fifty per cent of the amount of the claim on the condition that if the owner, original contractor or construction lender recovers judgment in an action brought on a verified claim or on the lien filed by the claimant, the claimant would have sufficient monies to pay all costs and damages that the owner, original contractor or construction lender may sustain by reason of the stop notice claim or the lien, not exceeding the amount specified in the bond. See Arizona Laws 33-1051
• Lien: A claim against real or personal property in satisfaction of a debt.
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Stop notice: means a written notice that is signed and verified by the claimant or its agent and that states in general terms all of the following:

  (a) A description of the labor, professional services, materials, machinery, fixtures or tools furnished or agreed to be furnished by the claimant. See Arizona Laws 33-1051

• Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215