Assessments
are due on the first of each month. A
late fee of $25.00 will be assessed if payment is not received on or
by the 10th
of the month, or the first business day thereafter. Postmarks will
not be considered.
An
email notice of Intent to Lien
will be sent to owners more than 30 days delinquent.
A
certified mail notice of Intent to Lien will
be sent to owners more than 45 days delinquent and a $15.00
additional late fee will be assessed against the owner. A
condominium lien will be recorded against any unit owner more than
60 days late and the cost of recordation shall be assessed against
any unit owner found to be delinquent in a subsequent proceeding to
enforce the lien. The
remaining assessments to the end of the fiscal year will be
accelerated for all delinquencies of more than 3 months. Lien
foreclosure will be directed for delinquencies of more than 3
months.
After
institution of lien foreclosure action, all payment plans or
settlements will require board approval.
All payments shall be applied to the most recent amount owed first.
The sending of monthly dues invoices from the
Association to an owner is provided only as a convenience. The
failure or delay of the Association to send monthly invoices shall
not constitute a waiver or release in any way of the owner's
obligation to pay assessments as herein provided.
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