- The Annual Assessment for each Lot is due as of January 1st of each year. If any assessment is not paid within thirty (30) days after its due date, the assessment shall bear interest from said date at one percent (1%).
- Collection Letter One – Thirty days after the annual assessment due date, a letter will be sent to each Lot with a past due assessment. The letter will notify the Lot Owner of the past due assessment balance with applied interest.
- Collection Letter Two – Sixty days after the annual assessment due date, a letter will be sent to each Lot with a past due assessment. The letter will notify the Lot Owner of the past due assessment balance with applied interest.
- Collection Letter Three – Ninety days after the annual assessment due date, a letter will be sent to each Lot with a past due assessment. The letter will notify the Lot Owner of the past due assessment balance with applied interest.
- Collection Letter Four – One Hundred and Twenty days after the annual assessment due date, a final letter will be sent to each Lot with a past due assessment. The letter will notify the Lot Owner of the past due assessment balance with applied interest. The letter will specify that if the past due assessment with applied interest is not paid in full within 30 days or approved payment arrangements made with the HOA Board, a formal lien will be filed for the past due assessment balance and all associated lien fees.
- Collection Letter Five – One Hundred and Fifty days after the annual assessment due date, a final letter from the Regency Park HOA Board will be sent to each Lot for which a formal lien has been filed. The letter will notify the Lot Owner that a formal lien has been filed as of June 1st by the Regency Park HOA and the amount of the lien.
Homeowner Annual Dues
