COLLECTION OF ASSESSMENTS
18) COLLECTION OF ASSESSMENTS
a. Due Date: Monthly assessments and charges are to be paid in full by the 10th day of each month.
b. Late Fee: If monthly assessments are not paid in full on the 10th day of each month, a late charge equal to the greater of Ten Dollars ($10.00) or ten percent (10%) of the amount not paid.
c. Application of Payments: If part payment of assessments and related charges is made, the amount received may be applied first to costs and attorney’s fees, then to violations, then to late charges, then to interest, then to delinquent assessments, and then to current assessments.
d. Late Notice: If monthly assessments and charges remain delinquent for a period greater than fifteen (15) days from the date due, a notice of delinquency may be issued.
e. Suspension of right to use common elements: If monthly assessments and charges remain delinquent for more than thirty (30) days, the Association may suspend a Unit owner’s and/or Occupant’s right to use the Common Elements (i.e., pool, fitness center, etc.).
f. Suspension of right to vote: If monthly assessments and charges remain delinquent for more than thirty (30) days, the Association may suspend a Unit owner’s and/or Occupant’s right to vote.
g. Legal Actions to Collect: If monthly assessments and charges remain delinquent for more than thirty (30) days, the Association may institute suit to collect all amounts due.