Annual Dues
Annual assessments as approved February 27th, 2023 – $2,100
Annual assessments may be paid in two ways…
1 – Paid in full prior to March 1st (this year 2015 will be April 1st due to the annual meeting being held later than anticipated)
2- Paid in 9 installments with the entire balance continuing to accrue interest at rate of 1.5% per month until paid in full
*all late payments are subject to a 5% fee in addition to interest of 1.5% per month along with any attorney/collection fees as incurred.
Collections process for Late Payments
1- invoice is sent via email by the 10th of the month it is considered current until it ages past the 1st of the next month. *no paper invoice mailed
2- at about 30 days (by the 10th of the month) a statement is emailed listing the now past due invoice* no paper letter is sent
3- at about 60 days (the next month) a statement is emailed & a letter is mailed (U.S. mail) standard mail
4- at about 90 days (the next month) the account is turned over for collections & the attorney will mail via (certified mail) intent to lien & attorneys fees added
5- at about 120 days the a lien is filed & negative credit is reported to the credit bureau – the lien is not cleared until the account is brought current.
6- at about 150 days the foreclosure process is started
Assessments
9.04(b) Notice and Payment of Regular Assessment.
The full Regular Assessment may be paid in full prior to the first day of March of each respective fiscal year; or The Regular Assessment may be paid in nine equal installments due on the first day of each month, commencing March 1, and shall be subject to a late charge of 5% of the billing for payments received after the 15th day of the month. All unpaid portions of any Regular Assessments being paid in accordance with the second option as set forth in this paragraph shall bear interest at the rate of 1.5% per month from March 1 of each respective year until paid.