Release Of Lien On Real Property By Posting Surety Bond — Action Against Debtor And Surety — Preferential Settings

TITLE 45 LIENS, MORTGAGES AND PLEDGES CHAPTER 5 LIENS OF MECHANICS AND MATERIALMEN 45-522. Release of lien on real property by posting surety bond — Action against debtor and surety — Preferential settings. The lien claimant is entitled to bring an action against the lien claimant’s debtor and to join therein the surety on the bond. The rights of the lien claimant under the bond are conditioned on the validity and enforceability of the lien pursuant to this chapter, and the court may award up to the penal sum of the bond an amount that may consist of the following components: (1)  The amount found due to the lien claimant by the court; (2)  The cost of preparing and filing the lien claim, including attorney’s fees, if any; (3)  The costs of the proceedings; (4)  Attorney’s fees for representation of the lien claimant in the proceedings; and (5)  Interest at the rate of seven percent (7%) per annum on the amount found due to the lien claimant and from the date found by the court that the sum was due and payable.