Collection Policy for Delinquent Assessments SECTION 16 - COLLECTION POLICY
1. Regular & Special Assessments Regular Assessments are due and payable, in advance, on the first day of each month. If imposed, special assessments shall be due and payable on the due date specified by the Board. Assessments, interest, late charges, collection costs and reasonable attorney’s fees, if any are imposed are the personal obligation of the person who is the Owner of the subdivision interest at the time when the assessment or other charge fell due. 2. Right to Receipt When an Owner makes a payment, the Owner may request a receipt, and the Association shall provide same which shall indicate the date of payment and the person who received such payment. 3. Overnight Payments Payment of assessments may be made by overnight mail to the following address: OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCIATION HOA Accounting Office 69-411 Ramon Rd. Cathedral City, CA 92234-3376 4. Application of Payments on Delinquent Assessments Payments received on delinquent assessment accounts will be applied first to the regular or special assessments owed and then be applied to interest, late charges, collection costs, administration fees, attorneys' fees, reimbursement assessments, and any other amount due to the Association in connection with collection of delinquent assessments. 5. Late Charge Regular & Special assessments are delinquent (15) days after they become due. A late charge of ten percent (10%) of the delinquent assessment or ten dollars ($10.00), whichever is greater, may be applied if payment in full of any assessment is not received fifteen (15) days after the payment is due. 6. Additional Charges, Costs and Attorney’s Fees Pursuant to Civil Code § 5650(b), the Association is entitled to recover reasonable collection costs, including reasonable attorney’s fees, incurred in connection with collection of delinquent assessments. Costs may include, but are not limited to, publication, recording, posting, service and mailing.
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