Billing and Collection Policy:
1. Payments are due monthly on the 1st. Payment booklets show the type of assessment, the due date and the amount due. Please pay from the payment booklet provided to you. The payment booklets are sent as a courtesy. The excuse that you did not receive one does not waive late fees or interest.
2. If payment is not received by the 10th of each month, a late notice will be mailed and a $5.00 administrative fee will be assessed. Additionally, interest will accrue at 18% per annum.
3. If payment is not received by the 10th of the following month, a final certified notice showing the amount due will be sent, and you will be charged an additional administrative fee of $25.00. Interest continues to accrue at 18% per annum on the total balance outstanding until payment is received in full.
4. If payment is not received within 30 days of the final notice date, your account will immediately be turned over to an attorney for collection, lien and foreclosure proceedings. You will be responsible for costs and charges against you, including recovery of attorney/paralegal fees, court costs, etc. All correspondence with the Association will stop and you must deal directly with the attorney at this time.
5. Assessments and other charges are mandatory and as such, cannot be selectively waived.