Ariz. Rev. Stat. § 42-15203
B. An affidavit of affixture shall contain all of the following:
E. If a release of a security interest that, according to its terms, recites that it secures an obligation having a stated indebtedness not greater than five hundred thousand dollars exclusive of interest has not been executed and recorded within sixty days of full satisfaction of the obligation secured by the security interest, a title insurer as defined in section 20-1562 may prepare, execute and record a full release of the security interest. At least thirty days before issuing and recording a release pursuant to this subsection, the title insurer shall mail by certified mail with postage prepaid, return receipt requested, to the holder of the security interest contained in the affidavit of affixture at the last known address shown of record and to any persons who according to the records of the title insurer received payment of the obligation at the address shown in the records, a notice of its intention to release the security interest accompanied by a copy of the release to be recorded. The release shall set forth: