(1) The lien created in this subchapter shall be construed, established, preserved, and enforced in like manner and in the same time as liens of mechanics are construed, established, preserved, or enforced.
(2) When the trucks, teams, tractors, draglines, or other equipment, and labor are furnished and hauling done was entered under an open, running account, that shall be construed as a continuous contract, and the time within which the verified statement of the claim for lien shall be filed with the clerk of the circuit court shall be computed from the time when the last hauling or excavation work was in good faith performed.
(3) When perfected in the manner set out in this subchapter, the lien provided for in this subchapter shall be held in law and equity as security for the entire open, running account, whether the account has been partially closed by note or not.