2021 - 202100251540 08/24/2021 8:58AM Page 1 of 3 CYPRESS COVE OWNERS ASSOCIATION, INC.
COLLECTION POLICY WHEREAS, the Declaration of Cypress Cove Owners Association, Inc. was recorded on June 12, 2013 as Document Number 201300183489 in the Real Property Records of Dallas County, Texas; WHEREAS, the Board of Directors has established these reasonable guidelines regarding collection of delinquent homeowner payments; THEREFORE, THE BOARD OF DIRECTORS HEREBY RESOLVES THAT, as of September 1", 2021 the Board of Directors adopts the following Collection Policy: Collection of Association Dues Homeowner’s dues, one-time or special assessments, late charges, interest and collection costs, including any attorneys’ fees are the personal obligation of the owner of the property at the time the dues or other sums are levied.
Regular homeowner’s dues are due and payable on the 1*. All other assessments or sums owed are due and payable on the date specified by the Board (or Managing Agent) on the notice of assessment. Onetime assessments will be noticed at least thirty (30) days prior to the due date.
Below is a table and timeline of Collection Activity and Fees associated with any dues, one-time or special assessments that are not paid in a timely manner.
Late Charges/Interest/Collection Fees First Collection Notice to be |e Interest rate of .83% will be mailed via regular US mail applied to the homeowner’s account e Subsequent Collection Fees may be placed by Managing Agent consistent with Texas Legislation and Management Contract e Interest rate of .83% will be applied to the homeowner’s account e Subsequent Collection Fees may be placed by Managing Agent consistent with Texas Legislation and Management Contract e Interest rate of .83% will be applied to the homeowner’s
he homeowner’s account e Subsequent Collection Fees may be placed by Managing Agent consistent with Texas Legislation and Management Contract e Interest rate of .83% will be applied to the homeowner’s account ~ e Subsequent Collection Fees may be placed by Managing Agent consistent with Texas Legislation and Management Contract Action to be Taken Late Date 30 Days Past Due Date Second::Collection Notice to be mailed via regular US mail 60 Days Past Due Date Third Collection Notice to be mailed via regular US mail 90 Days Past Due Date 2021 - 202100251540 08/24/2021 8:58AM Page 2 of 3 CYPRESS COVE OWNERS ASSOCIATION, INC.
COLLECTION POLICY 120 Days Past Due Date Referral to Attorney Notice to be mailed via reguiar US mail and certified return receipt e Interest rate of .83% will be applied to the homeowner’s account e Subsequent Collection Fees may be placed by Managing Agent consistent with Texas Legislation and Management Contract e Interest rate of .83% will be applied to the homeowner’s account every thirty (30) days that payment is not received e Subsequent Collection Fees may be placed by Managing Agent consistent with Texas Legislation and Management Contract e Subsequent Attorney Fees may be placed by the Association’s attorney consistent with Texas Legislation and Attomey Agreement Account will be turned over to the Association’s Collection attorney and Collection Activity will continue pursuant to requirements outlined in Texas Legislature and the Fair Debt Collection Act.
165 Days Past Due Date The State of TEXAS § The County of Dallas § Executed by J. OuUoAnn th. Ul Shenae Hou President, Cypress Cove Owners Association, Inc. Print Signature Sworn to me this | q day of 2021 by J ovann aba iH , President, Cypress Cove Owners Association, Inc. Print Name
oAnn th. Ul Shenae Hou President, Cypress Cove Owners Association, Inc. Print Signature Sworn to me this | q day of 2021 by J ovann aba iH , President, Cypress Cove Owners Association, Inc. Print Name SMU 7, TEYLORE HARRISON seins % Notary Public, State of Texas aA aN = Comm. Expires 03-12-2026 Otary Public iS SS s Notary 10 1329721 12 After filing please return to: Teylore Harrison c/o VISION COMMUNITIES MANAGEMENT, Inc., 5757 Alpha Rd, Suite 680, Dallas, Texas, 75240 [email protected] 2021-202100251540 08/24/2021 9:04 AM Page 3 of 3 Dallas County John F. Warren Dallas County Clerk Instrument Number: 202100251540 eRecording - Real Property Recorded On: August 24, 2021 08:58 AM Number of Pages: 3 “ Examined and Charged as Follows: " Total Recording: $30.00 Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of color or race is invalid and unenforceable under federal law.
File Information: Record and Return To: Document Number: 202100251540 CSC Global Receipt Number: 20210823001494 Recorded Date/Time: August 24, 2021 08:58 AM User: Kevin T Station: CC15 STATE OF TEXAS COUNTY OF DALLAS I hereby certify that this Instrument was FILED In the File Number sequence on the date/time printed hereon, and was duly RECORDED in the Official Records of Dallas County, Texas.
John F. Warren Dallas County Clerk g—— Dallas County, TX