DELINQUENT DUES POLICY
In accordance with the provisions of the Declaration of Protective Covenants, Conditions and Restrictions for the Bear Hollow Village Specially Planned Area (CCR’s), the Bear
Hollow Village Homeowner’s Association (HOA) adopts the following policy for the handling of owner/s/ delinquent dues accounts:
1. Monthly dues assessments are due on the first of each month and are mailed to the owners address of record as listed in the files of the Homeowners Association so they are received by owners no less than fifteen (15) days prior to the first of the month.
(Note: It is the individual unit owners responsibility to properly notify the HOA of any change in their address of record for dues mailing and notification purposes.)
2. Monthly dues assessments not received by the HOA by the last day of the month in which they are due will be considered in Late Payment Status. The HOA will impose a
late fee, equal to five (5) percent of the monthly dues assessment, on the owners account for any monthly dues, or any part thereof, not received by the last day of the month.
3. Late fee’s will continue to be added to owners dues accounts for the entire time
that monthly dues assessments, or any part thereof, remain in late / delinquent status.
4. At forty-five (45) days from the first of the month that the monthly dues assessment was due, the HOA will send the owner a Notice of Delinquency via regular US mail delivery advising the owner/s/ that their dues account is late and now in Delinquent Status.
Owners will be advised of the intent of the HOA to file a Lien against their property
and pursue other dues collection options if all dues and late fee’s assessed are not paid
in full within fifteen (15) days of the date of the Notice of Delinquency.
5. Owners dues accounts that remain in Delinquent Status for 60 days or longer, counted from the first day of the month from which dues was not paid will have a Lien placed on their property in the Summit County, Utah Recorders Office by the HOA. All costs
and/or fee’s associated with filing the lien will be added to the owners dues account.
6. The Trustees of the HOA will then aggressively pursue collection of an owner/s/ delinquent dues account by whatever means deemed appropriate in their evaluation of the circumstances surrounding each specific delinquent account. Options available for collection will include, but not be limited to: referral to a Collection Agency; actions in the Small Claims Court; retaining of attorney to pursue Judgments/Orders against delinquent owner/s/ and their assets; etc.
7. All costs/ fee’s/expenses incurred by the HOA in conjunction with pursuing
collection of delinquent dues or other assessments posted to an owners account will be added to the owner/s/ dues account and considered payable in full when posted.
8. This Late Payment and Delinquent Dues Policy will become effective October 1, 2003.