SENATE AMENDMENT
    Bill No. SB 2754
    Amendment No. ___   Barcode 524332
                            CHAMBER ACTION
              Senate                               House
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       04/26/2004 12:25 PM         .                    
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11  Senator Argenziano moved the following amendment:
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13         Senate Amendment (with title amendment) 
14         On page 14, between lines 19 and 20,
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16  insert:  
17         Section 12.  Subsection (1) of section 713.3471,
18  Florida Statutes, is amended to read:
19         713.3471  Lender responsibilities with construction
20  loans.--
21         (1)  Prior to a lender making the first any loan
22  disbursement on any construction loan secured by residential
23  property directly to the owner, which for purposes of this
24  section means an individual owner only, or jointly to the
25  owner and any other party, the lender shall give the following
26  written notice to the owner borrowers in bold type larger than
27  any other type on the page:
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29                             WARNING!
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31         YOUR LENDER IS MAKING A LOAN DISBURSEMENT
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    11:32 AM   04/23/04                               s2754c-03j06


                                                  SENATE AMENDMENT
    Bill No. SB 2754
    Amendment No. ___   Barcode 524332
 1         DIRECTLY TO YOU AS THE OWNER BORROWER, OR
 2         JOINTLY TO YOU AND ANOTHER PARTY. TO PROTECT
 3         YOURSELF FROM HAVING TO PAY TWICE FOR THE SAME
 4         LABOR, SERVICES, OR MATERIALS USED IN MAKING
 5         THE IMPROVEMENTS TO YOUR PROPERTY, BE SURE THAT
 6         YOU REQUIRE YOUR CONTRACTOR TO GIVE YOU LIEN
 7         RELEASES FROM EACH LIENOR WHO HAS SENT YOU A
 8         NOTICE TO OWNER EACH TIME YOU MAKE A PAYMENT TO
 9         YOUR CONTRACTOR.
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11  (Redesignate subsequent sections.)
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14  ================ T I T L E   A M E N D M E N T ===============
15  And the title is amended as follows:
16         On page 2, line 3, after the semicolon,
17  
18  insert:
19         amending s. 713.3471, F.S.; revising a notice
20         requirement concerning the disbursement of
21         payments on construction loans; requiring that
22         the notice be provided to the owner;
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    11:32 AM   04/23/04                               s2754c-03j06