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Collections Information RESOLUTION-COLLECTIONS GREENBRIAR CONDOMINIUM-PHASE I WHEREAS, it is the duty of the Board of Directors to collect assessments due to the Association as stated in Article IV of the Bylaws; and WHEREAS, the Bylaws allow certain collection action to be taken as stated in Article VII; and WHEREAS, the collection of assessments in a timely fashion is an integral part of the operation of the Association; NOW, THEREFORE, BE IT RESOLVED THAT the procedure for collection of delinquent assessments be as follows: 1. Each owner's annual assessment is due on the first of day of January; however, for the convenience of owners, the annual assessment may be paid in equal monthly installments on the first day of each month, unless otherwise notified by the Board of Directors. There may also be additional fees due, including, but not limited to, special assessments, charges or fines, which are subject to this collection policy. Notices, documents and all correspondence relating to assessments shall be mailed to the address which appears on the books of the Condominium. It is each owner's responsibility to inform the Condominium's managing agent, in writing, of any address change. Payment coupons are provided to all owners once a year. 2. A reminder notice is mailed on or about the 9th of each month to all accounts with a balance for that month. This notice includes notice of acceleration which must be given within 15 days of failure to pay installment. The account may be accelerated 15 days after this notice and the remainder of the fee for the balance of the fiscal year will be due. 3. If at the close of business on the 15th of the month, there is an assessment balance due, a late fee of $15.00 will be added. 4. On or about the 22nd day of the month, a notice of intent to file a lien will be mailed certified, to each owner on record of the home. There will be a charge added to the homeowner's account. This notice of intent to file a lien may be mailed at an earlier date, particularly if an account that is already delinquent enters a new fiscal year. 5. If the delinquent owner does not sign for the copy of the Notice of Intent to File a Lien which was forwarded to the owner by means of certified mail, return receipt requested and the notice is reutrned as refused or unclaimed, or signed by someone other than the addressee, other arrangements will be made pursuant to Maryland law to serve the delinquent owner with the Notice of Intent to File a Lien. The additonal costs incurred by the Condominium to serve the delinquent owner with the Notice of Intent to File a Lien will be assessed to the delinquent owner's account. 6. Liens will be filed 30 days after service is completed, unless payment is made in full or a complaint is filed in the Circuit Court of Prince George's County. A notice of lien filing will be sent, and there will be additional charges added to the account. 7. Owners whose account is delinquent 30 days or more in an amount of $50.00 or more will lose their right to park anywhere on the common area parking lot, unless a valid and current payment plan is in effect. The parking permit issued to that home will be invalid and any vehicle displaying that permit number will be subject to immediate towing. Any vehicle belonging to a resident of that home, a visitor or a guest of that resident is subject to immediate towing as well. The parking privileges will be revoked until the balance owed to the asscociation is paid in full. In addition, that owner will lose their right to use the swimming pool. Pool passes will be revoked until the account is paid in full. 8. Accounts which remain delinquent ten days after receiving notice of lien filing, will be turned over to the attorney for appropriate legal action, which may include, but is not limited to, foreclosure on the owner's property, or filing a lawsuit, or both. All legal fees will be charged to the homeowner. 9. All charges for collection action will be charged to the homeowner, including but not limited to, management agent collection costs, postage, private process server fees, interest, lien recording and releasing fees. 10. All checks returned unpaid must be replaced with a cashiers check or money order and will incur a service charge. 11. Payments received from a owner will be credited to the outstanding balance in the following order: a.
Courts costs, attorney's fees and other costs of collections. 12. In the event an owner attempts to make a payment of less than all monies due and owing the Condominium after collection proceedings have commenced, the Condominium's attorney will either send a letter to the owner or attempt to contact the owner by telephone or e-mail advising the owner that the payment was applied in accordance with Paragraph 11, hereof, and that his or her account remains delinquent as to all remaining monies owed to the Condominium. The Condominium's retention of the partial payment does not constitute a waiver of the Board's authority to foreclose on the owner's property or take action against the owner to collect the outstanding balance. RESOLUTION EFFECTIVE APRIL 1, 2002 AND ADOPTED BY THE BOARD OF DIRECTORS ON FEB. 12, 2002. Collections Policy Resolution (Click on your Phase for more information) |
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