•The definition of contract price has been broadened to include “a reasonable price for the labor, materials, machinery, equipment or services by the lienor. This definition is triggered when no contract price is available. The contract price also includes overhead and profits.
•The prime contractor’s lien continues for one year after the date the improvement is complete, is abandoned or until the final decision of any suit brought within that time period.
•The remote contractor’s lien expires 90 days after the date the improvement is complete or is abandoned.
•Following adjudication of the lien, by forfeiture, satisfaction, expiration or otherwise, the lienor must remove the lien within 30 days after written demand or be responsible for reasonable fees and expenses to the owner.
•An injured party may recover damages and actual expenses including attorneys fees that result from property owners’ misapplication of loan proceeds that were to be used for improvements or from a contractor’s misapplication of payments made to the contractor for improvements.