Harvest Bend (McKinney) Homeowners Association

What Harvest Bend (McKinney) Homeowners Association's governing documents say

This is an Assessment Collection Policy for the Harvest Bend (McKinney) Homeowners Association, a standard single-family HOA in Allen, TX. It governs how the association collects regular and special assessments from homeowners, including late fees, interest, and collection procedures. This policy does not set the amount of assessments or other community rules.

• Assessment due dates & delinquency: Regular assessments are due semi-annually on the first calendar day of the month charged. Any unpaid assessment becomes delinquent immediately after the due date, and remains delinquent until paid in full including all collection costs, late fees, and interest.
• Late fees & interest: If full payment is not received by 5:00 p.m. on the late date set by the governing documents, the association may charge a monthly late fee and/or interest at the highest rate allowed by applicable usury laws. The association may also charge a $30 fee for returned checks.
• Collection costs & liability: The defaulting owner is liable for all collection costs, including title reports, certified mail, court costs, filing fees, and attorney's fees incurred by the association. These costs may be added to the delinquency.
• Payment plans: The association must offer a payment plan to delinquent owners with a minimum term of 3 months and a maximum of 18 months, subject to reasonable administrative costs and interest. The association determines the actual term.
• Suspension of amenities: The board may suspend use of common area amenities for an owner or tenant whose account is delinquent for at least 30 days.
• Application of payments: When a delinquency is notified, payments are applied in a specific order: first delinquent assessments, then current assessments, then attorney fees and costs related to delinquencies, other attorney fees, fines, then any other amount.
• What this document doesn't cover: This policy does not describe the overall community rules, such as pet restrictions, leasing rules, architectural standards, or the specific amount of assessments. Those are in the association's main governing documents (the Restrictions).

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.