January 31 of any given year: Annual assessments are due.
In the event of a hardship, any member unable to pay their assessment in full by the due date should contact the General Manager of The Galena Territory Association who shall have the discretion to establish an agreeable payment plan. Payment plans should ensure that current year assessments are paid in full in the calendar year for which they are assessed. If a payment plan includes prior year assessments, that part of the assessment must also be paid in full during the current calendar year. Interest charges will continue to accrue during the term of the payment plan. All members’ rights to use of the common properties will be suspended until assessments and fees are paid in total. Failure by a member to adhere to the payment plan as agreed upon will result in the implementation of the Assessment Collection Policy described below.
February 1: All assessments due but not paid will be declared delinquent and an interest charge previously established by the Board of Directors shall be charged monthly until receipt of payment.
March 1: A reminder will be included with all notices indicating the future course of action by the Association.
April 1: All members’ rights to use of the common properties will be suspended until assessments and fees are paid in total. In accordance with the General Declaration of Covenants and Restrictions, Article VIII, Section 1, a lien shall be filed on all lots or living units with past due assessments. The lien will be removed upon receipt of full payment of the assessment, interest and any applicable fees, including a lien fee to be charged to each delinquent account, the amount of which will be determined by the Board of Directors.
Once a lien is filed, the board will determine when and whether to forward any or all delinquent accounts to its attorneys for further legal proceedings. Once legal proceedings have begun, all future communication regarding the debt shall be between the member and the Association’s attorneys.
Once a lien has been filed and the lien fee added to the delinquent member’s account, the Board of Directors will not waive the fee.
Resolution adopted in November 1981 Last Amended: June 17, 2011
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