7.Interest Interest at the Annual rate of twelve percent (12%) may be charged on all sums due, that are thirty (30) or
more days delinquent. 8.Pay orLien Letter
Any Owner who is more than thirty (30) days delinquent in the payment of his or her assessments may be referred to the Association’s management company or the Association’s attorney for collection and will receive a pay-or-lien demand letter, via certified mail. The letter will be sent at least thirty 30 days prior to a Notice of Delinquent Assessment Lien being recorded against the delinquent Owner’s property, and will notify the Owner of record in writing of the following pursuant to Civil Code § 5660 (a)-(f) (a) A general description of the collection and lien enforcement procedures of the Association and the method of calculation of the amount; (b) An itemized statement of the amounts owed, including delinquent assessments, fees and reasonable costs of collection, reasonable attorney’s fees, late charges and interest charges, if any; (c) The Owner’s right to inspect the Association’s records to verify the debt; (d) The Owner’s right to request a meeting with the Board of Directors, as set forth below; (e) That the Owner will not be liable for late charges, interest and costs of collection if it is determined that the assessment was paid on time to the association. (f) The Owner’s right to dispute the debt by submitting a written request for dispute resolution to the Association pursuant to its meet and confer program (known as Internal Dispute Resolution or IDR) pursuant to Civil Code § 5910 ; (g) The Owner’s right to request Alternative Dispute Resolution (ADR) with a neutral third party pursuant to Civil Code 5935 before the association may initiate foreclosure against the Owner; 9. Owner’s Dispute of Debt/Request for Meeting with Board Prior to Lien/Commencement of Small Claims Lawsuit. Pursuant to Civil Code § 5660 (a)-(f) and 5658, the Owner has the following rights: (a) Meet & Confer. Prior to recording a lien, the Association shall offer and, if so requested by the Owner, to participate in dispute resolution pursuant to the Association’s meet and confer program (known as Internal Dispute Resolution or IDR) pursuant to Civil Code § 5910 . (b) Request to Meet with Board to Discuss Payment Plan. The Owner may submit a written request to meet with the Board to discuss a payment plan for the debt owed. The Association will provide any standards it has adopted regarding payment plans to Owners. The Board will meet with the Owner in Executive Session in conjunction with a regularly scheduled Board meeting, within 45 days of the postmark of the request, if such was mailed, no later than 15 days after the postmark of the pay or lien letter. If there is no regularly scheduled Board meeting within that period, the Board may designate a committee of one or more members to meet with the Owner.
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