CENTURY FARM ASSOCIATION
BOARD POLICY 2012-01
Unpaid Account Fees
A meeting of the Board of Directors of Century Farm Association was held on
September 17, 2012. All members of the board, consisting of Kevin Smith, Tom Hartnett, Cindy
Lucke, Krista Freece, Jennifer Janiszewski, and Rob Maynard, were present, except Lou Evans,
Karen Maruska and Robert Bowers.
At the meeting the Board adopted the following policy:
* * * * *
The Board has determined that the adoption of this Policy is in furtherance of the
Association's purposes.
THEREFORE:
Beginning on January 1, 2013, and going forward, the Association shall follow
these procedures concerning annual assessments and dues, including all
accounts with outstanding balances as of December 31, 2012.
1. A late fee shall be assessed on all outstanding balances that are 60 days
past due at the rate of 6.0% per annum (not compounded).
2. A lien (Notice of Interest) shall be placed on (recorded against) the
property 6 months past due, or as soon as administratively practical, at the
cost currently being charged by the Association’s attorney.
3. A $5.00 administrative charge shall be added to accounts for every
Reminder Notice that is sent out after 90 days past due.
4. Past due accounts will be sent to a collection agency after the lien has
been placed on the property.
5. If a lien has been placed on a property, a Release of Interest shall be
prepared and recorded as soon as administratively practical after the
account has been brought up to date.
6. Lot Owner(s)/Member(s) shall be responsible for payment of all costs and
fees incurred by the Association for Reminder Notices, Liens, Collection
Agency activities and Releases of Interest.
I certify that the above is a true and accurate record and statement of Board
Policy 2012-01.
________________________
Krista Freece, Secretary Date: September 17, 2012
BOARD POLICY 2012-01
Unpaid Account Fees
A meeting of the Board of Directors of Century Farm Association was held on
September 17, 2012. All members of the board, consisting of Kevin Smith, Tom Hartnett, Cindy
Lucke, Krista Freece, Jennifer Janiszewski, and Rob Maynard, were present, except Lou Evans,
Karen Maruska and Robert Bowers.
At the meeting the Board adopted the following policy:
* * * * *
The Board has determined that the adoption of this Policy is in furtherance of the
Association's purposes.
THEREFORE:
Beginning on January 1, 2013, and going forward, the Association shall follow
these procedures concerning annual assessments and dues, including all
accounts with outstanding balances as of December 31, 2012.
1. A late fee shall be assessed on all outstanding balances that are 60 days
past due at the rate of 6.0% per annum (not compounded).
2. A lien (Notice of Interest) shall be placed on (recorded against) the
property 6 months past due, or as soon as administratively practical, at the
cost currently being charged by the Association’s attorney.
3. A $5.00 administrative charge shall be added to accounts for every
Reminder Notice that is sent out after 90 days past due.
4. Past due accounts will be sent to a collection agency after the lien has
been placed on the property.
5. If a lien has been placed on a property, a Release of Interest shall be
prepared and recorded as soon as administratively practical after the
account has been brought up to date.
6. Lot Owner(s)/Member(s) shall be responsible for payment of all costs and
fees incurred by the Association for Reminder Notices, Liens, Collection
Agency activities and Releases of Interest.
I certify that the above is a true and accurate record and statement of Board
Policy 2012-01.
________________________
Krista Freece, Secretary Date: September 17, 2012