Collection Policy

 

To Download PDF: Resolution Daylesford Lake, Collection Policy – signed April 29, 2013

 DAYLESFORD LAKE, A CONDOMINIUM

 Resolution  to Adopt

Collection Policy

  

This Resolution  of  the  Board  of  Directors  is  entered  into  on  this  29th-day  of  April   2013.

 WHEREAS, Daylesford Lake, A Condominium (the “Association”) is .responsible for the governance and maintenance of the common open space of the conununity, the assessment and collection of amounts related to certain common expenses and payment of such expenses from such amounts;

 WHEREAS, the Association exists pursuant to the Pennsylvania Uniform Condominium Act, 68 Pa. C.S.A. §3101, et seq., (the “Act”), the Declaration ofCondominimn ofDaylesford Lake, A Condominium, as amended from time to time, recorded in the Recorder of Deeds Office of Chester County at Book 1602, Page 41, et seq. (the “Declaration”) and The By-Laws ofDaylesford Lake Condominium Association (“By-Laws”), collectively referred to herein as the “Governing Documents”;

 WHEREAS, the Association is authorized  to adopt and enforce  reasonable  rules and regulations in the best interests of the Association pursuant to the Act and the Governing Documents; and

 WHEREAS, the Association wishes to modify its collection policy.

 NOW, THEREFORE, BE IT RESOLVED, the Association, through its Executive Board, adopts the Collection Policy attached hereto as Exhibit “A” (the “Collection Policy”) as an addition to the Rules and Regulations of the Daylesford Lake, A Condominium, which shall be binding upon all Unit Owners and their grantees, lessees, tenants, occupants, successors, heirs and assigns who currently or in the future may possess an interest in the Association, and which shall supersede any previously adopted collection policy.

 WITNESS this day, our hands and seals.

 DAYLESFORD LAKE, A CONDOMINIUM

 

EXHIBIT “A”

Collection Policy

  

DAYLESFORD LAKE, A CONDOMINIUM

Rules and Regulations

Collection Policy

 1.     In General.  All fees, assessments, special assessments, limited assessments and any other charge (including fines) (hereinafter collectively referred to generally as “Fees” or “Assessments”) provided for in the Declaration, the By-Laws or the Rules and Regulations (hereinafter collectively referred to as the “Governing Documents”) deemed  necessary by the Executive Board will be termed delinquent if not paid by the date upon which such amount is due.

 2.         Due   Dates.      Pursuant   to  Article  XIV,  Sections   14.01  and   14.06  of  the Association’s  Declaration, all Common Expense assessments are payable and due on the first day of  each month. Special  assessments  shall  be due and  payable  in  one  or  more monthly payments, on the first day of each month, as determined by the Executive Board.   Other fees including, but not limited to, Delinquency Assessments and Assessments for Limited Common Expenses shall, when levied, specify the due date.  If no due date is specified, then the due date shall be the first calendar day of the month following mailing of notice of the Assessment.  Any late charge (“Delinquency Assessment”) Fees shall be due on the same date as the next regular Assessment fee.

 3.        Late  Payments; Delinquency  Assessment.   Any payment not credited to the Association’s account on the tenth (101  ) day after the date upon which such payment is due shall be considered late.  Any account containing a delinquent balance which is not paid in full by the tenth (101  ) day of the month shall accrue a Delinquency Assessment of $25.00 per month.  In addition, interest may accrue on any unpaid Assessment(s), fines, Delinquency  Assessment(s) and the costs of collection  (including attorneys’  fees) at the rate of fifteen percent (15%) per annum or any such other rate as may be determined by the Executive Board.

 4.         Notice of Delinquency. Upon the determination that a Unit Owner is delinquent for more than ten (I 0) days, the Association shall provide written notice of such delinquency to the Unit Owner.  Notice need only be sent via regular mail and sent to the mailing address of the Unit, unless prior written notification has been provided to the management office of the Association specifically authorizing and directing the Association to send correspondence to an alternative address.

 5.        Second  Notice of Delinquency.    If  the  Unit  Owner  fails  to  correct  the delinquency and the account  remains delinquent for thitty (30) days, a Second Notice of Delinquency shall be sent to the Unit Owner.  Notice need only be sent via regular mail and sent to the mailing address of the Unit, unless prior written notification has been provided to the management office of the Association specifically authorizing and directing the Association to send correspondence to an alternative address.

 6.         Transfer to Legal Counsel.  If a delinquent balance remains on the Unit Owner’s account for greater than sixty (60) days, or if an account balance is delinquent  in an amount equal to two monthly installments of the annual assessment at any point in time, then the account may be forwarded to legal counsel to pursue the collection in full.

 7.         Attomeys’ Fees and  Collection  Costs.    As provided  pursuant to Article XIV, Section 14.0l(c)  and Section 14.06 of the Association’s Declaration, as well as the relevant provisions   of  the  Pennsylvania   Uniform  Condominium   Act  (U.C.A.),   Unit   Owners  are responsible  for  the  payment  of  any  and  all  expenses  incurred  by  the  Executive  Board  in connection with the collection of delinquent Fees including, but not limited to, attorneys’ fees and costs.

 8.         Liens and  Personal Obligation. Until any and all outstanding Fees are paid, all Fees associated with a Unit shall be a charge on the Unit and shall be a continuing lien upon the Unit in favor of the Association from the time each Fee becomes due.  Each Assessment and the costs of collection shall also constitute a personal liability of the Unit Owner.

 9.         Conflict.   If any conflict should exist between this Rule and Regulation and the Declaration of the Association, the terms of the Declaration shall control.

 10.       Revocation  of Recreational Facility  Usage.  If a delinquent balance remains on the Unit  Owner’s  account  for  greater  than forty-five  (45)  days,  or  if an  account  balance is delinquent in an amount equal to two monthly installments of the annual assessment at any point in time, then the delinquent Unit Owner may have their rights to utilize the common element recreational facilities, including but not limited to the pool, revoked.

 

 

 

 

 

 

 

 

 

 

 

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