The Summit at Ponderosa Trails Homeowners Association

What The Summit at Ponderosa Trails Homeowners Association's governing documents say

This document is an Assessment Collection Policy for The Summit at Ponderosa Trails Homeowners Association, a planned community in Arizona. It details the procedures and fees the HOA uses to collect delinquent assessments from lot owners. This is a supporting policy, not the full set of community rules.

• Assessment due dates & delinquency: Annual assessments are due January 1 of each year. An installment is delinquent if not paid within 15 days after the due date.
• Late fees & interest: A late fee of $15 or 10% of the unpaid assessment (whichever is greater) applies when payment is over 15 days late. Interest accrues at the maximum rate allowed by law. A $45 NSF fee is charged for returned checks.
• Collection notice sequence: A first late notice is sent after 15 days past due. A second late notice may be sent no sooner than 45 days past due. A Notice of Acceleration and Lien may be sent no sooner than 120 days past due, demanding payment within 15 days or the association will accelerate the full year's assessment and record a lien.
• Lien & foreclosure: If payment is not made within 15 days of the acceleration notice, the board may record a Notice of Lien with the county recorder. The association may foreclose on the lien or pursue a personal judgment against the owner.
• Referral to attorneys or collection agencies: Accounts $460 or more past due may be referred to attorneys or a collection agency for further action.
• Board discretion: The board may waive or compromise any unpaid amounts if in the association's best interest. The board can amend or replace this policy at any time and may vary from the procedures in its sole discretion.
• What this document doesn't cover: This policy does not address general community rules such as architectural review, pet restrictions, leasing rules parking, or use of common areas. It only covers assessment collection.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.