200408683 - Laserfiche WebLink

Browse

200408663 (b) In addition to any amounts due or any other relief or remedy obtained against an Owner who is delinquent in the payment of any dues or assessments, each Owner agrees to pay such additional costs, fees, charges and expenditures ( "Additional Charges ") as the Association may incur or levy in the process of collecting each Owner's monies due and delinquent. All Additional Charges shall be included in any judgment in any action brought to enforce collection of delinquent dues or assessments. Additional Charges shall include, but not be limited to, the following: i. Reasonable attorney's fees and costs incurred in the event an attorney is employed to collect any dues, assessment or sum due, whether by suit or otherwise; ii. 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 dues, 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 twenty dollars ($20), whichever is greater; iii. Costs of suit and court costs incurred as allowed by the court; iv. Costs of filing notice of lien in the Office of the Register of Deeds; v. Interest on all dues and assessments at the rate of fourteen percent (14 %) per annum, commencing thirty (30) days after the dues or assessments become due; and vi. Any other costs that the Association may incur in the process of collecting delinquent dues and assessments. (c) The dues and assessments shall be the personal obligation of the Owner who is the owner of the lot assessed at the time of the assessment and when shown of record shall be a lien upon the lot assessed. (d) 'The Association may create a schedule of fines for violation of Association rules and regulations which fine shall be treated and billed as a special assessment to the offending Owner's lot. 12. Upon the initial sale of a Lot within the Properties from the Declarant, the purchaser shall pay to the Association the sum of One Hundred Dollars ($100.00) in lieu of any annual dues or assessments. The One Hundred Dollar ($100.00) annual fee shall be due and owing from the Owner on January 1" of each and every year until such time as a residence is constructed upon the Lot. At such time as the residence upon the lot is completed, the Owner of such Lot shall pay to the Association the prorated amount of the dues or assessments, prorated from the date of completion to the end of the period for which such dues or assessments are allocable and, thereafter, such dues and assessments shall be payable in the amount allocable to such Lot for each periodic assessment thereafter due. 13. The lien of any dues or special assessment shall, until shown of record, be subordinate to the lien ol' any mortgage, deed of trust or other encumbrance placed upon the Lot against which the assessment is levied. C.