As a condition of final payment under a residential construction contract, the original contractor must, at the time the final payment is tendered, execute and deliver to the owner, an affidavit stating that the original contractor has paid each person in full for all labor and materials used in the construction of improvements on the real property. This is known as an Affidavit of All Bills Paid. A copy should be kept in the loan file. If the original contractor has not paid each person in full, the original contractor must state in the affidavit the amount owed and the name and, if known, the address and telephone number for each person to whom a payment is owed. The person signing an affidavit is personally liable for any loss or damage resulting from any false or incorrect information in the affidavit. [TPC § 53.259]