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Sandpiper Isle Residents
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CURRENT NEWS PAGE
POSTING DATE - May 29, 2010
BE SURE TO SCROLL TO BOTTOM OF PAGE !
BE SURE TO SCROLL TO BOTTOM OF PAGE !
Starting Monday afternoon, June 7th, and continuing until Friday, June 11th the pool, spa and club houses will be periodically closed for cleaning and painting of the deck. Thank you for your understanding and cooperation.
The
Board
SANDPIPER ISLE CONDOMINIUM ASSOCIATION, INC.
Assessment Collection Policy
Assessment Collection Policy
1. Regular assessments are due on the first day of each calendar quarter…January 1, April1, July 1, and October 1. Time is of the essence as to all dates and time limits stated.
2. Special assessments are due thirty (30) days after the special assessment has been adopted, unless at the direction of the Board of Directors, a different due date or payment schedule is specified.
3. A regular assessment is considered delinquent if it is not physically received by the the Associations accountant on or before the 15th day of the month noted in #1. On the 16th day, interest and late fees shall be accrued. The interest shall run from the original due date at the rate of 18% per annum.
4. Between the 16th and 20th day (depending upon “business days”) of the calendar quarter a First Notice of Late Payment shall mailed to the owner’s unit. If an owner desires to have notices and other mailings delivered to an address other than the unit address it is the obligation of the owner to provide written notice to the Association’s agent or representative of the alternative address. The association shall maintain one mailing address for each owner at a time and is not obligated to send other notices to any other address unless so directed in writing by an owner.
5. On the 10th calendar day following the date of the First Notice of Late Payment, if full payment of all amounts due including late fees and interest has not been physically received by the Association’s accountant, a Final Notice of Late Payment will be mailed to the owner’s unit. The Notice shall notify the owner of the delinquency, request payment and indicate that the matter shall be referred to the Association’s legal counsel if payment is not physically received by the Association’s accountant within ten (10) days.
6. If full payment including interest and late fees has not been physically received by the Association’s accountant on or before the due date in the Final Notice the delinquent account shall be referred to the Association’s legal counsel for collection. The legal counsel shall be instructed to file a claim of lien against the unit for the unpaid assessment, accrued interest, late fees, attorney’s fees and costs.
7. Thereafter, the legal counsel will be instructed to proceed with collection of the debt using all lawful means including, but not limited to, the filing of a lien foreclosure lawsuit. No debt will be considered satisfied until all assessments, including future accruing assessments, interest, late fees, attorney’s fees and costs are paid in full.
