The Bridges Homeowners Association

  1. On a monthly basis, the Bridges Homeowners Association (“Association”) shall issue to each of its Members (“Owners”) a Statement (“Statement”) setting forth the amount(s) due for homeowners assessments or other charges (collectively herein referred to as “Assessment”). An Assessment shall be due and payable upon the Owner’s receipt of said Statement.
  2. In the event the Association has not received full payment of an Assessment (including any late and other assessments) by 11:00 a.m. on the 14th day of the month, following the mailing of a Statement, it shall have the right to take the following action:
    1. Issue a demand letter to the delinquent Owner;
    2. Assess a late fee in an amount equal to 1% of an unpaid Assessment and add such fee to, which will become part of, such assessment. Such fee and any such new fee shall be assessed each month until the Assessment has been paid in full.
  3. In the event the Association has not received full payment of an Assessment by 11:00 a.m. on the 14th day of the second month following the mailing of a Statement:
    1. The Owner shall be deemed to be not in good standing;
    2. The Owner’s charging privileges shall be automatically suspended. The suspension shall apply to all persons normally permitted to charge on such Owner’s account. Ordinarily, the charging privileges shall be restored to the Owner at the time the Owner pays the delinquent Assessment, including all late fees, collection costs and legal fees, in full.If, however, during the 6 months preceding the day on which the subject Statement was issued, the Owner failed to pay any other Statement by 11:00 a.m. on the 14th day of the second month following the mailing of the Statement, then the suspension shall be extended beyond the date of full payment for a period of time equal to the sum of (1) the number of days between the day on which the previous Statement was issued and the day on which the Owner paid it in full and (2) the number of days between the day on which the subject Statement was issued and the day on which the Owner pays it in full.
    3. The Association shall have the right to file a lien against the Owner’s unit; and
  4. In the event the Association has not received full payment of an Assessment by the last day of the second full month following the mailing month, the Owner’s account shall be reviewed by the Association’s Board of Directors, or designee and may be referred to its attorney for commencement of legal action.
  5. In the event the Association has not received full payment of an Assessment by 11:00 a.m. on the 14th day of the third full month following the mailing of a Statement, the Owner’s facility use privileges shall be automatically suspended and such suspension shall continue for a period of not less than 30 days after the day on which the Owner pays the Assessment in full. The suspension shall apply to all persons normally permitted to use the facilities by virtue of the Owner’s membership in this Association.
  6. An Owner shall be deemed to have accepted a Statement in its entirety and to have waived any further right to question such Statement unless the Owner disputes the validity of the Statement in writing or during a telephone conversation with the Association’s manager by 11:00 a.m. on the 14th day of the month following the mailing of a Statement. Any Owner who disputes the amount or validity of a Statement rendered by or on behalf of the Association by 11:00 a.m. on the 14th day of the second month following the mailing of a Statement:
    1. Shall pay in a timely fashion any portion of the Statement relating to Assessments that are not in dispute. Any amounts that are not disputed shall be subject to the Collection procedures set forth herein;
    2. Shall resolve the dispute with the manager by 11:00 a.m. on the 14th day of the second month following the mailing of a Statement. Any dispute regarding a Statement that is not resolved by 11:00 a.m. on the 14th day of the second month following the mailing of a Statement, shall be submitted to the Association’s Board of Directors.
  7. All units on the rental program will have net rental income applied against common area charges before any monies are disbursed to the Owner.
  8. The Board of Directors may waive any of the foresaid billing and collection procedures.

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