Association Fees

GENERAL RULES. Monthly Association fees are due and payable on the first of each month and will be considered delinquent if not received by the Property Management Company by the end of the month. Coupon books will be provided to the Owners. Monthly statements of past due accounts are a courtesy reminder. Owners are responsible for making their payments on the due date, regardless of whether or not a coupon book or statement is received. Extraordinary assessments must be paid within the time frame specified in the notification. Sellers and Purchases are responsible for notifying the Property Management Company in writing of any change in Ownership or address, and such changes shall be submitted in writing to the Property Management Company.

LATE FEES. Homeowner Association fees are due on the first of each month. These fees are considered delinquent by the end of the month. A late fee charge of $25.00 will be levied against the Owner for accounts past due of the recurring monthly fee (as of the end of each month) until made current. This late fee charge will be treated in the same manner as a special assessment and will be collected through procedures established by the Board.

PENALTY ASSESSMENT/LIEN AGAINST PROPERTY. Owners will be given written notice of past due accounts. If accounts remain unpaid for a period of ninety (90) days, a notice of intent to lien will be mailed. If the account is not brought current within ninety (90) days of the first due date, a lien will be filed against the Owner for non-payment.

Owners will be responsible for costs incurred in connection with filing liens, judgments and/or foreclosures, including (but not limited to) filing fees, recording costs, lien preparation, interest, attorneys fees and court costs. These costs will be treated as special assessments against the Unit and must be paid prior to a lien being removed.