Brawley Farmshomeowners Association, Inc

Brawley Farmshomeowners Association, Inc

BRAWLEY FARMSHOMEOWNERS ASSOCIATION, INC

DELINQUENT ASSESSMENT COLLECTION POLICY

Prompt payment of assessments by all owners is critical to the financial health of the Association and to the enhancement of the property values of our homes. Your Board of Directors takes very seriously its obligation under the Declaration of Covenants, Conditions and Restrictions (CC&Rs) to enforce the members’ obligation to pay assessments. The policies and practices outlined shall remain in effect until such time as they may be changed, modified, or amended by a duly adopted resolution of the Board of Directors. Therefore, pursuant to the CC&Rs UNDER Article VI, section 11 and state Statue 47F, also known as the North Carolina Planned Community Act.

Late Charge:

  1. Each Month that a Brawley Farms owner is thirty days delinquent the owner will be charged a late charge of $15.00.
  2. The Brawley Farms Board of Directors, at its discretion and upon receipt of a written request from the homeowner, may waive the late charge. The late charge will only be waived one time for any homeowners.

Regular monthly assessments are due and payable on the first day February and April. The payment coupon will be provided at the first week in January and sent to the billing address on record with the Association.However, it is the owner of record's responsibility to pay each assessment in full regardless of whether a statement is received.

Collection Policy

  1. General Provision:
  2. All assessments shall be received by or before the due date. Payments received after the due date will be assessed a late charge as described above.
  3. Homeowners may stop the collection process at anytime by contacting the Board of Directors or Attorney and either making payments.
  4. Payment plans will be permitted only in cases of proven hardship, such as loss of employment, or if otherwise permitted by the Board.
  5. Step 1: Friendly reminder Notice:

If the account is delinquent thirty (30) days after the due date, the Board of Directors will send a reminder notice to the homeowner.

  1. Step 2: 1st Warning Letter

The Board of director or attorney will send a 1st warning letter.

  1. Demanding payment in full within 30 days, and
  2. Charging the homeowners account applicable late fees.
  1. Step 3: 15-day Demand Letter

The Board of Directors or Attorney will send a 15-day demand letter demanding payment in full within fifteen (15) days.

  1. Step 4: Lien Request
  2. If the outstanding balance of a delinquent account is not paid by the date specified on the Demand Letter, a lien request is made to the attorney.
  3. Once the account is turned over to the attorney, the Board of Directors may no longer have contact with the homeowner. The homeowner must contact the attorney. Directly.
  4. The attorney files a lien against the property if payment is not made, All cost incurred are the responsibility of the delinquent homeowner.
  5. Step 5: Foreclosure:

The decision to foreclose on a lien must be made by a majority of the Board of Directors in an Executive Session meeting and the Board of Directors must record their votes in the minutes of the next open meeting of the Board. The homeowners must be ninety days (90) past due.

APPROVED: Lakisha Doggett

President

APPROVED: Alicia Thompson

Secretary

Date: 3/12/2012

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