Timely payment of regular and special assessments is of critical importance to the Association. Your Board of Directors takes very seriously its obligation under the Association's governing documents, including the Declaration of Covenants, Conditions and Restrictions (CC&R's) and the California Civil Code to enforce the members obligation to pay assessments. The failure of any owner to pay monthly assessments when due create a cash-flow problem for the Association and causes those owners who make timely payment of their assessments to beat a disproportionate share of the Association's financial obligations. The following are the Association's assessment practices and policies:
1. Assessments, late charges, interest, collection cost and any attorney's fees are the personal obligation of the owner of the property at the time the assessment or other sums are levied. The monthly assessment is $45.00 beginning January 1, 2006.
2. Assessments due date: Regular monthly assessments are due and payable on the first day of each month. The assessment is delinquent after the 15th of each month . It is the owner of record's responsibility to pay each assessment in full every month regardless of whether a statement is received. All other assessments, including special assessments, are due and payable on the date specified by the board in the notice imposing such a assessment. In no event shall a special assessment be due and payable earlier than thirty (30) days after the date the members received notice of the special assessment .
3. Application of payments: Unless the owner and the Association enter into an agreement providing for payment to be applied in a different manner, any payments made shall be first applied to assessments owed. Only after the assessments owed are paid in full such payments be applied to the late charges, interest and collection expenses, including attorney's fees, unless the owner and the Association enter into an agreement providing for payments to be applied in a different manner.
4. Late Fees: Delinquent assessments will be assessed a late charge of $10.00. A late charge will not be imposed more than once per delinquent installment.
5. Interest: Interest shall be imposed on all delinquent assessments, late charges and reasonable costs of collection at the annual percentage rate of 12% , commencing 30 days after the assessment becomes due.
6. Collection: If an assessment is not received within thirty (30) days after the assessment becomes delinquent, the association or its assigned agent or trustee will send a pre-lien letter to t he owner by certified and first class mail, to the owner's mailing address advising of the delinquent status of the account and impending collection action. The owner will be charged a fee for the pre-lien letter.
7. Liability for Collection Fee and Costs: If an owner fails to pay the amount set fourth in the pre-lien letter within (30) days of the date of that letter, the Association will authorize California Association Lien Collections, LLC to record a lien for the amount of any delinquent assessments, late charges, interest and/or cost of collection, including attorney's fees against the owner's property. The owner will be charged for the fees and costs of preparing and recording the lien.
8. Enforcement: No less than thirty (30) days following recordation of the lien, the lien may be enforced in my manner permitted by law, including without limitation, judicial, non-judicial foreclosure. Nothing in this collection policy limits the Association's right to proceed in any lawful manner to collect any delinquent sums owed to the Association.
9. Disputes: If an owner disputes the amount of any late charges or other charge, the owner may pay all delinquent amounts in full under protest and send the Association, by certified mail, a written notice that the amount is paid under protest. The notice must be given within thirty (30) days of the recordation of the notice of Delinquent Assessment . The owner has the right to demand that the matter be resolved through Alternative Dispute Resolution (ADR) in accordance with California Civil Code section 1354. An owner may not demand ADR more than two times in a single calendar year or three times in any five calendar years.
10. Inspection: An owner is entitled to inspect the Association's accounting books and records to verify the amounts owed pursuant to Corporations Code Section 8333.
11. If it is determined that the owner has paid the assessments on time, the owner will not be liable to pay the charges, interest, and cost of collection associated with collection of those assessments.
12. Payment Plan Requests: Any owner may make a formal request to a Board for a payment plan. an owner may also request to meet with the Board in executive session to discuss a payment plan. Each request is handled on a case-by-case basis. The Board is under no obligation to grant payment plan requests.
13. Paid in full: Prior to recordation of the release of any lien, or dismissal of any legal action, all assessments, late charges, interest, and costs of collection, including attorney's fees, must be paid in full to the Association.
14. Fines and Penalties: A schedule of the Association's schedule of fines and penalties imposed for violation of its CC&R's or Rules is attached.
15. This policy is subject to charge upon thirty (30) day written Notice.
16. The mailing address for overnight payment of assessments is:
1320 Flynn Road, Suite 301 Camarillo, California 93012
Revised: November 7, 2007
