Association Assessments

Assessment Collection Procedure

1. The annual Assessment for Common Expenses shall be divided and payable in 12 equal monthly installments, each rounded to the nearest dollar.
2. Each monthly installment of the Assessment is due by the first day of the respective month. Payments may be made by check in conjunction with your coupon book, online by credit card (fee for CC Payment), online banking where you control when the check is sent by your bank or by automatic deductions from your account (ACH). See Attachment A for ACH payment form.
3. Any installment of Assessment payment not received by the fifteenth (15th) of the month shall be termed delinquent.
4. On the sixteenth (16th) day of each month, an automatic late fee of $15.00 shall be assessed to every account with a balance in excess of one (1) month’s Assessment.
5. The first time a delinquent balance exceeds two (2) month’s Assessments, one warning letter shall be sent to the Unit Owner from the Association. Included in the mailing will be:
   1. A list of unpaid assessments and charges.
   2. Information on who the Unit Owner may contact to obtain further information and have any questions answered.
6. If no payment is made after issuance of the warning letter and/or no satisfactory contact has been made with the Association, the Owner’s account will be referred to the Association’s attorney for collections.
7. As provided in the Declaration and Bylaws, all related charges for collection of any delinquent Assessment shall be the responsibility of the Unit Owner. Included in this are: court and legal costs, bank charges (including for returned payments) late fees, interest, penalty Assessment and other Assessments which may become due.
8. In the event an Assessment is not paid within sixty (60) days after the due date, the Board reserves the right to accelerate payment by the Owner of the assessments due for the remainder of the fiscal year.
9. In the event of a delinquency, the Executive Board may suspend the delinquent Unit Owner’s (including his/her family, occupants, guests, or tenants) rights and privileges in the Association, including, but not limited to, right to vote, the right to serve on the Board or committees, the right to seek architectural approval, and the right to use of Common Facilities during any period of delinquency, provided the Association has first given written notice and an opportunity to be heard. The right to vote shall only be reinstated in the event the Unit Owner shall have fully paid all Assessments made or levied against the Unit Owner and against the Unit by the Board together with all interest, costs, attorneys’ fees, penalties and expenses) at least five (5) days prior to the date fixed for any annual or special meeting.
10. Legal action on a delinquent account may result in any of the following steps as is required to collect amounts due:
    1. Filing of suit.
    2. Entry of judgment.
    3. Execution sale of personal property; and/or garnishment.
    4. Foreclosure and sale of the Unit in a manner similar to a mortgage foreclosure.
11. The Executive Board may exercise any and all of its right as permitted by law and its decision is final.
12. This Collection Procedure may be amended from time to time as the Executive Board deems necessary and appropriate.

Special Assessments

From time to time, it is necessary to impose a Special Assessment on the community to cover an extraordinary and unanticipated Association expense that is not otherwise budgeted for, such as an excessive need for snow removal.

Once the amount due is determined, owners are notified and are generally given the option of paying the assessment in its entirety or in a few monthly installments as determined to be reasonable by the Board, during which time no late fees are imposed.

Effective March 1, 2023, once the term has expired and all installments should have been paid, a late charge of 5% of the Special Assessment per month will be levied on all unpaid Special Assessment balances.