2024 - 2024010136 11/07/2024 02-42 PM Page 1 of 7 COLLECTION POLLY POTRANCO ACRES HOMEO SSOCIATION, INC.
THE STATE OF TEXAS x : G COUNTY OF MEDINA § & L i President of Potranco Acres Homeowners Association, Inc. CAasga do hereby certify that in the open session of a properly noticed or of the aes oO Directors (“Board”) of the Association, duly called and held on the Th ag Si pueuloew , 2024, with at least a quorum of the Board mer QE present and remaining throughout, and being duly authorized to transact business, the following Collection Policy was duly approved by at least a majority vote of the members of the Board present at the meeting.
RECITALS: il. The Board enforces the provisions of the Declaration applicable to the Property to address the collection and processing of assessments and other charges due and owing to the Association.
2. The Board desires to adopt a Collection Pglicy consistent with the Association's Dedicatory Instruments (as defined below) and state la couscrig ier It is the policy of the Association to fe the provisions of the Dedicatory Instruments applicable to the Property regarding t ction of assessments and other charges due and owing to the Association in accordance the following Collection Policy (“Policy”): Section 1. DefinitionssSitalized terms used in this Policy have the following meanings: \ 1.1. imitea © a. Annual Assessment and other assessments including, but not limit recat Assessments and any other charge(s) for which an Owner is res 2 as provided for in the Declaration which is secured by the Byiation’ 's lien and the collection which is governed by the Declaration and/or s law.
Collection Policy for Potranco Acres Homeowners Association, Inc. Page 1 of 6 2024 - 2024010136 11/07/2024 02-42 PM Page 2 of 7
en and the collection which is governed by the Declaration and/or s law.
Collection Policy for Potranco Acres Homeowners Association, Inc. Page 1 of 6 2024 - 2024010136 11/07/2024 02-42 PM Page 2 of 7 1.2. Declaration - shall mean the following: ss a. Documents: cs (1) Potranco c= of Covenants, Conditions, Easements strictions.
b. Recording xe oe a County Clerk’s File No. 2020011377.
supp not included in the list above and any future amendments, annexations or su ts.
“Declarati &: includes any other applicable amendments, annexations or s aintenance or operation of the properties within the Property, as more Q; particularly defined in Section 202.001(1) of the Texas Property Code.
1.4. Property - shall mean the following: e Potranco Acres, a subdivision in Medina County, Texas according to the map or plat thereof described in Exhibit A attached to the Declaration, and all amendments to or replats of said maps or plats, if any.
“Property” shail also include any and all other subdivisions that have been annexed or will be annexed into or otherwise fall under the jurisdiction of the Association, if any, that are not included above.
Other capitalized terms used herein have the Seaycanings as that ascribed to them in the Declaration. 8 Section 2. Due Date. Each Annual A Cm shall be paid in quarterly installments and due by the first (1s) day of January, Apap October or such other date established by the Declaration or the Board. Each Spec ssessment due date will vary depending on membership vote approving same. er Assessments shall be due in the time period established by the Board if such date i established in the Declaration.
Section 3. Cost Recov and attorney fees incurred i
embership vote approving same. er Assessments shall be due in the time period established by the Board if such date i established in the Declaration.
Section 3. Cost Recov and attorney fees incurred i Lot and shall be the perso, otherwise provided by ach Assessment, together with interest, costs, late charges lection action shall be secured by a continuing lien upon each ligation of the Owner. Unless otherwise prohibited by law or as ssociation’s Dedicatory Instruments, all costs of collection, expenses, and fees charged to, d by, the Association collecting, or attempt to collect, Assessments shall be assessed againgg thé Lot and shall also become the personal obligation of the Owner as and when incurr t of collection shall include, but not be limited to, charges imposed by the Association sending collection notices/letters, charges imposed by the Association’s Collection Policy for Potranco Acres Homeowners Association, Inc. Page 2 of 6 2024 - 2024010136 11/07/2024 02-42 PM Page 3 of 7 management company for sending collection notices ers, attorney fees, legal expenses (postage, copies, filing fees, etc.), and charges or trative costs/fees imposed by the Association’s management company for monitori lhquent accounts and/or turning over delinquent accounts to the Association’s cllecitg ven (including the Association’s attorney).
¢ Section 4. Delinquency Processing yYhe delinquent date for all Assessments will be thirty (30) days from the Due Date, unle&o erwise stated in the Declaration or action approving same. S Section 5. Notices. gio notices sent to the Owner below shall contain notice of the amount then due.
51. Deli Notice s). The Association may, but is not required to, send one or more quent notices at a time to be determined by the Board before sending
elow shall contain notice of the amount then due.
51. Deli Notice s). The Association may, but is not required to, send one or more quent notices at a time to be determined by the Board before sending SHpral Delinquent Notice described below.
¢ 52. wa Delinquent Notice. The Association shall, before turning a delinquent LX owner over to a collection agent (including the Association’s attorney), send to the Owner a notice that complies with Section 209.0064 of the Texas Property Code. Additionally, if an Owner's use rights in the Common Area are to be suspended, the notice may include the provisions required by Section 209.006 of the Texas Property Code. The Association retains the right to send a letter that complies with Section 209.006 of the Texas Property Code regarding suspension of an Owner’s Common Area use rights as a separate mailing.
Section 6. Interest. Unless otherwise provided by the Declaration, any Assessment not paid within thirty (30) days of the Due Date shall bear interest from the Due Date at the rate of six percent (6%) per annum.
Section 7. Late Charge. A late charge of $20.00 per month will be incurred on any Annual Assessment, Special Assessment or other Assessment thg( is not paid in full within thirty (30) days of the date the Assessment became due. The late will be based upon the full amount of the applicable Assessment regardless of wheth: 1 amount of the applicable Assessment is delinquent, or some portion less than ne. mount of the applicable Assessment is delinquent. Late charges are in addition to, OY ieu of, interest.
¢ Section 8. Payment Plan and plan in accordance with Section 20 Payment Plan Policy. If acce accordance with Section 209.00 Payments. All Owners will be offered a payment of the Texas Property Code and the Association’s .
lan and plan in accordance with Section 20 Payment Plan Policy. If acce accordance with Section 209.00 Payments. All Owners will be offered a payment of the Texas Property Code and the Association’s .
the Association, partial payments shall be posted in e Texas Property Code unless the owner is in default under a payment plan at the time ssociation receives the payment. The acceptance of a partial payment for less than the mount due at the time payment is made shall not constitute waiver or forgiveness of the ining balance. If an Owner enters into a payment plan per the Association’s Pay: an Policy, Owner is responsible for any and all administrative cost provided for in thas ayment Plan Policy. The Association will not accept cash payments.
° ‘SY Ss eo Collection Policy for Potranco Acres Homeowners Association, Inc. Page 3 of 6 2024 - 2024010136 11/07/2024 02-42 PM Page 4 of 7 Section 9. Dishonored Checks. Checks dishonom by the bank (e.g., NSF checks) may (but are not required to) be re-deposited by the Assoc) .?Whether or not a dishonored check is re-deposited, a dishonored check will incur a di red check processing fee in the amount of $25.00 to offset the additional processing nant nd a dishonored check notice may (but is not required to) be sent requesting payment 1 by cashier’s check or money order. In the event a dishonored check notice is sent ount due is not paid in full within ten (10) days of the mailing of the dishonored check , the Association may initiate or continue collection activity. If a dishonored check noti not sent, the Association may proceed with collection activity immediately. In additi e dishonored check fee charged by the Association, any bank fee(s) or any other type of fee(¥ charged to the Association because of the dishonored check
with collection activity immediately. In additi e dishonored check fee charged by the Association, any bank fee(s) or any other type of fee(¥ charged to the Association because of the dishonored check {including a management ae y fee(s), if any] shall be charged against the Owner's account and the amount of the ay red check shall be reposted to the Owner's account. An Owner shall be responsible gy charges and/or fees incurred by the Association as a result of a dishonored check.
owner’ Mailing Address. It is the responsibility and obligation of each ns a Lot under the jurisdiction of the Association to provide the Member's ess to the Association and to promptly notify the Association in the event the mailing address changes. In order to be effective, notice of the Member's mailing address or a change of the Member's mailing address must be mailed to the Association by any method of mailing for which evidence of receipt of such mailing by the Association is provided by the United States Postal Service or a common carrier. It is the Member's responsibility to maintain evidence of receipt by the Association of Member's notice of address change. The Association may, at its discretion, accept a notification of a change in a Member’s mailing address sent by regular mail or e-mail, however, a Member that disputes the mailing address listed in the Association’s records must be able to prove that the Member sent an address change notification by providing evidence of receipt by the Association of Member's notice of address change that was sent by any method of mailing for which evidence of receipt of such mailing by the Association is provided by the United States Postal Service or a common carrier. Unless the
f address change that was sent by any method of mailing for which evidence of receipt of such mailing by the Association is provided by the United States Postal Service or a common carrier. Unless the Association is otherwise notified in writing, the Member’s mailing address shall be deemed to be the street address of the Member's Lot or the last alterng{ive mailing address provided to the Association by the Member in writing. All notices t er pursuant to State law and the Association’s governing documents shall be aie e Owner at the Owner's last known mailing address. If mail to a Member is mee delivered, or the Association otherwise reasonably determines that the last known address of the Member may not be valid, the Association has the right, but not the obli to conduct a title search or other searches for the purpose of attempting to either verif ember’s current mailing address or to obtain the Member's current mailing aoe osts incurred by the Association to verify a Member’s current mailing address or obtaj ember’s current mailing address shall be, to the extent ti permissible under the Asso 's Dedicatory Instruments and state law, charged to the Member. The failure of a Mags to receive a notice(s) or to properly notify the Association of a change in a Member's magi address shall in no way waive or negate the Member's obligation to pay any Assessmen ge(s) authorized by the Declaration or state law. The submission of a check or other fgrgof payment to the Association which sets forth an alternative address does not constituvago ce of a change of the Member’s mailing address.
° ‘SY Ss eo Collection Policy for Potranco Acres Homeowners Association, Inc. Page 4 of 6 2024 - 2024010136 11/07/2024 02-42 PM Page 5 of 7
constituvago ce of a change of the Member’s mailing address.
° ‘SY Ss eo Collection Policy for Potranco Acres Homeowners Association, Inc. Page 4 of 6 2024 - 2024010136 11/07/2024 02-42 PM Page 5 of 7 Section 11. Referral of Account to Associatio section Agent. The Association, the Board, an individual Board member, the Associ fice staff if any, or the Association's management agent may, without further ine or action needed by the Board other than the adoption of this Policy in the open sessiort roperly noticed Board meeting and filing this Policy in the applicable county records, Cs y account to the Association’s collection agent (including the Association’s attorney) oa any portion of: (a) the current year’s Assessment is delinquent; and/or (b) any portio gy previous year’s Assessment is delinquent; and/or (c) any other charge(s) due and ong the Association that is authorized in the Association’s Dedicatory Instruments or by gta law is delinquent. Upon referral of an account to the Association’s collection age uding the Association’s attorney) for collection, the collection agent is authorized to, t further instruction from the Board, take whatever action is necessary to collect t t due including, but not limited to, sending demand letters, filing a lawsuit against th! inquent Owner for a money judgment and/or a judicial foreclosure, instituting an expAjted foreclosure action if authorized by the Declaration and/or state law, foreclosing ot or any non-exempt assets of an Owner (includes the authority to allow the org orney or designated agent to bid on and purchase the property at a trustee foreclg le or at a constable/sheriff’s sale), and, in the event an Owner files bankruptcy, filing ssary claims, objections and motions in the bankruptcy court, and monitoring the
property at a trustee foreclg le or at a constable/sheriff’s sale), and, in the event an Owner files bankruptcy, filing ssary claims, objections and motions in the bankruptcy court, and monitoring the bankruptcy case in order to protect the Association’s interests.
Section 12. Required Action. Nothing contained herein, not otherwise required by the Declaration or by law, shall require the Association to take any of the actions contained herein.
The Association's Board of Directors shall have the right, but not the obligation, to evaluate each delinquency on a case-by-case basis and proceed with collection activity as in its best judgment deems reasonable.
Section 13. Referral of Account to Credit Reporting Service(s). In the event that an Owner does not either pay the balance due on the assessment account of Owner’s Lot in full or enter into a payment plan for the amount due after receipt of a Final Delinquent Notice as described in Section 5.2 above, the Association may, ra required to, report a delinquent account to a credit reporting service(s) of the Assod" choosing. The Association’s may report the delinquent account by and through its ent company. The decision to refer a delinquent account to a credit reporting servic be at the sole and absolute discretion of the Board. The Board is not required to 1i delinquent accounts to a credit reporting service(s) and retains the sole and absgla cretion to refer accounts to a credit reporting service(s) on a case-by-case basis. \ S Section 14. Lien Filing. ss event the Association decides to file an assessment lien, before the Association files the sment lien (as that term is defined in Texas Property Code Section 209.0094), the Associ must: a. Send an initial re of delinquency:
ecides to file an assessment lien, before the Association files the sment lien (as that term is defined in Texas Property Code Section 209.0094), the Associ must: a. Send an initial re of delinquency: (1) by QQ mail to the Owner's last known mailing address as reflected in the iation’s records; oA BS Collection Policy for Potranco Acres Homeowners Association, Inc. Page 5 of 6 SN 2024 - 2024010136 11/07/2024 02-42 PM Page 6 of 7 (2) by e-mail to an e-mail address the ee to the Association.
and y > mail, return receipt requested, to dress as reflected in the Association’s records not tice is given under Subsection a(1).
b. Send a second notice of delin the Owner's last known mai earlier than the 30th day SS The Association maya Tre an assessment lien before the 90th day after the date notice of sine sent to the property owner under Section 14(b).
Section 15. S olicy replaces and supersedes any previous collection policy (or similarly named do nt), if any, adopted by the Association.
I he Associatio 2. that I am the duly elected, qualified and acting President of the that the foregoing Collection Policy was approved by at least a majority vote of Directors as set forth above and now appears in the books and records of the Associaton, to be effective upon recording in the Official Public Records of Real Property of Medina County, Texas.
Its: President THE STATE OF TEXAS § Heoua s BEFORE ME, the undersigned notary ng / day of Finimle 2024, personally appeared a A / as President of Potranco Acres Homeowners vin gon to me to be the person whose name is subscribed to the foregoing instrument, owledged to me that s/he executed the same for the purpose and in the capacity ees Notary Public in and for the State of Texas Commission Expires June 10, 2026
subscribed to the foregoing instrument, owledged to me that s/he executed the same for the purpose and in the capacity ees Notary Public in and for the State of Texas Commission Expires June 10, 2026 Collection Policy for Potranco Acres Homeowners Association, Inc. Page 6 of 6 "2024 - 2024010136 11/07/2024 02:42 PM Page 7 of 7 MT Ze eS ¢ Instrument wee 2024010136 se Property Recordings 3 Recorded On: November 07, ageesr Number of Pages: 7 Ss “ Examined and Charged as Follows: " Total Recording: we x< Any provision herein which restricts the Sale, Rentafgr of the described REAL PROPERTY because of color or race is invalid and Ce ‘orceable under federal law.
eG File Information: Py Record and Return To: Document Number: 2024010136 © Potranco Acres Receipt Number: 20241107000028 »Y Recorded Date/Time: November 07, 2 :42 PM Station: occas 4 feby certify that this Instrument was filed in the File Number sequence on the date/time ted hereon, and was duly recorded in the Official Records of Medina County, Texas Gina Champion ° .
Medina County Clerk Medina County, TX