Assessment Late Payment Policy

1. After all payments have been credited for the month, late charges are incurred after the 10^th day of the month. A $25 late charge plus 1.5% monthly (18% annual) interest will be charged on the unpaid assessment balance. Interest will be charged from the due date.

2. Statements are printed for all accounts that have a past due balance. These statements are stamped PAST DUE and mailed to owner.

3. Any account still owing at 60 days will receive a letter notifying them that legal action will commence if FULL payment is not received within 10 days.

4. All attorney fees, Association management processing charges, recording fees, lien release fees will be charged to the owner's account.

• 1^st day of each month:
  • Monthly assessment due.
• 10^th day of each month:
  • Late charges are incurred as of day 10. ($25 and 18% interest)
• Day 35-40:
  • Past due statement sent.
• Day 60:
  • Any account with a 60 day past due balance will be notified that legal action will be taken if full payment is not received within 10 days.
• Day 70:
  • If full payment has not been received, account will be turned over to the Association attorney for collection.