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20�20656ti cash reserves of the Association currently available for replacement or major repair of the common and limited common elements and for contingencies; (3) an itemized estimate of the remaining life of, and the methods of funding to defray repair, replacement or additions to, major components of the common and limited common elements; a.nd (4) a general statement setting forth the procedures used by the Association in the calculation and establishment of reserves to defray the costs of repair, replacement or additions to major components of the common and limited common elements. b. Additional Charges: In addition to any amounts due or any other relief or remedy obtained against a member who is delinquent in the payment of any assessment, each member agrees to pay such additional costs, fees, charges and expenditures ("Additional Charges") as the Association may incur or levy in the process of collecting from each member monies due and delinquent. All Additional Charges shall be included in any judgment in any action brought to enforce collection of delinquent assessments. Additional Chazges shall include, but not be limited to, the following: i. Attorney's Fees: Reasonable attorney's fees and costs incurred in the event an attorney(s) is employed to collect any assessment or sum due, whether by suit or otherwise: ii. Late Charges: A late charge in an amount to be fixed by the Association to compensate the Association for additional collection costs incurred in the event any assessment or other sum is not paid when due or within any grace period. The late charge shall not exceed ten percent (10%) of the delinquent assessment or ten dollars ($10), whichever is greater; iii. Costs of Suit: Costs of suit and court costs incurred as allowed by the court; 0