As used in this part:
(1) "Claimant" means a person who files a notice.
(2) "Guarantee" means an agreement by a claimant to pay an amount of damages:
(a) specified by the court;
(b) suffered as a result of the maintenance of a notice;
(c) to a person with an interest in the real property that is the subject of the notice; and
(d) if the requirements of Subsection 78B-6-1304(5) are met.
(3) "Notice" means a notice of the pendency of an action filed under Section 78B-6-1303.