Association fees are due Quarterly (usually January 1st, April 1st, July 1st, October 1st, or as directed by the Board Treasurer) for the specified amount communicated in writing by the Association.
In addition, the Association will collect, from new unit owners, the equivalent of 3 months fees at closing of sale of all units. For new owners, the Association also requires the next quarter fee to be paid in advance at settlement.
If a payment becomes fifteen (15) days late, it shall be subject to a late fee of $50. For every thirty (30) days thereafter the assessment / fines remain delinquent, an additional late fee of $50 will be added.
Fines will be added to the owners assessment and non-payment will result in a lien against the unit in addition to other remedies described in the Master Deed and By-Laws.