  Based on previous studies that support the important role of the $N^*(2120)
D_{13}$ resonance in the $\gamma p \to K^+ \Lambda(1520)$ reaction, we make a
re-analysis of this $\Lambda(1520)$ photoproduction reaction taking into
account the recent CLAS differential cross-section data. In addition to the
contact, $t-$channel $\bar K$ exchange, $s-$channel nucleon pole and
$N^*(2120)$ [previously called $N^*(2080)$] resonance contributions, which have
been already considered in previous works, we also study the $u-$channel
$\Lambda(1115)$ hyperon pole term. The latter mechanism has always been ignored
in all theoretical analysis, which has mostly relied on the very forward $K^+$
angular LEPS data. It is shown that when the contributions from the $N^*(2120)$
resonance and the $\Lambda(1115)$ hyperon are taken into account, both the new
CLAS and the previous LEPS data can be simultaneously described. We also show
that the contribution from the $u-$channel $\Lambda(1115)$ pole term produces
an enhancement for large $K^+$ angles, and it becomes more and more relevant as
the photon energy increases, being essential to describe the CLAS differential
cross sections at backward angles. Furthermore, we find that the new CLAS data
also favor the existence of the $N^*(2120)$ resonance, and that these
measurements can be used to further constrain its properties.
