POLICY ON PAST DUE ANNUAL HOA DUES AND OTHER ASSESSMENTS - WLHO- Westlake Homeowners Association

WESTLAKE HOMEOWNERS ASSOCIATION
POLICY ON PAST DUE ANNUAL HOA DUES AND OTHER ASSESSMENTS

The Westlake Homeowners Association CCRs and related governing documents provide for the annual assessment of dues, as well as assessments against individual lots arising from a variety of potential issues, including yard maintenance, failure to adhere to guidelines without approval, etc.The HOA Board of Directors has established the following policy on the collection of past due HOA dues and assessments to be effective January 1, 2023.
AMENDED DECLARATION OF COVENANTS AND RESTRICTIONS
Article VI
Sec 1 – Annual dues and special assessments, together with interest, costs, and reasonable attorney fees, shall be a charge on the land and shall be a continuing lien upon the lot or unit.  Each such assessment and special assessments, together with interest, costs, and reasonable attorney fees, shall also be the personal obligation of the person who was the owner at the time the assessment fell due,
Sec 8 – If any assessment is not paid when due, then such assessment shall become delinquent and shall, together with interest thereon and costs of collection, become a continuing lien on the lot or unit.  
Sec 8 - If the assessment is not paid within 30 days after the delinquent date, the assessment shall bear interest at the rate of 18% per annum.  Costs of filing a complaint and associated attorney fees may be added.  No owner may waive or otherwise escape liability for the assessments from non-use or abandonment of the lot or unit.  
AMENDED BYLAWS
Article 6.3 – All members shall be obliged to pay common expenses allocated to them.  Assessments may not be waived due to limited or non-use.  The Board shall take prompt action to collect any assessment which remains unpaid more than 30 days from the due date.  
POLICY ON PAST-DUE HOA DUES AND ASSESSMENTS, TO BE EFFECTIVE JANUARY 1, 2023
Annual HOA dues of $150.00 are on a calendar year basis:  assessed January 1, covering the period January 1 through December 31.  Statements showing the annual dues will be mailed on or before December31 of the preceding year.
The due date for annual dues will be January 31 of the billed year.  
Accounts will be considered late if payment is not received by March 1 of the billed year, and will be subject to a late fee of $30.  A Second Notice will be mailed at that time.  
If payment is not received by May 1, aThird Notice will be mailed, and interest at the rate of 18% per annum will be charged to the account starting on that date, with such interest to be calculated monthly until paid.
On July 1, all past-due accounts will receive a certified letter from the Board demanding payment and that the account is subject to a recorded lien and/or submission to a collection agency (or both) with likely adverse impact on personal credit ratings.
The board will address the status of all past-due accounts at its July meeting and decide future actions.  
Assessments and fines will be handled on a case-by-case basis but will be subject to the same payment terms described above.  
Payments received on past-due accounts will be applied first to all costs of collection, then interest and late charges, then principal.  
HOMEOWNERS ARE ENCOURAGED TO CONTACT ANY MEMBER OF THE BOARD OF DIRECTORS WITH QUESTIONS REGARDING THIS POLICY OR ITS IMPLEMENTATION.