Dear Neighbors,
Our Declaration of Covenants authorizes the Board to “impose a penalty as previously established by rule” if assessments are not paid within thirty (30) days after the due date.
Under that authority, the Board approved a $50 late fee for past due semi-annual assessments. The late fee will be imposed when payments are over 30 days past due beginning October 1, 2020. The 8% interest/annum is unchanged and has been imposed since the community’s inception.