SAN JOAQUIN PARKWAY HOMEOWNERS ASSOCIATION COLLECTION POLICY Purpose: The Board of Directors recognizes the importance of collecting the annual maintenance fees and related charges which promote the health, recreation and we lfare of the members and their properties, as well as subdivision common areas, amenities, and associated facilities. The purpose of this policy is to ensu re that Association dues and related charges are collected in a timely manner.
Policy: The Board of Directors will establish association d ues each year. In general, the Board of Directors will follow the schedule below, in providing notice of a ssessments to the owners, and in pursuing collectio n of delinquent accounts: SJPHOA SCHEDULE OF ANNUAL ASSESSMENTS All owners in San Joaquin Parkway Homeowners Associ ation shall be assessed annual fees to be used exclusively to promote the recreation, health, safe ty and welfare of the residents.
Article IV Section 2 Covenant for Maintenance Asse ssments · February 1 - Assessment statements will be mailed to owners of record for the current year, and shall include all past due amounts that may apply.
· March 31 - Assessments not paid by this date shall be considered past due · April 30 - 10% per annum interest rate wi ll be added to any unpaid balance (Article IV Sec . 8) A 2 nd collection letter will be mailed to owner of recor d · June 1 - Final (certified mail) collectio n letter with statement to be mailed - $10 certifie d letter fee · July 1 - Evaluation of legal procedures for collection by Board of Directors Refer delinquent accounts to attorney for collec tion Owners with past due balances of 3 year s or more and/or deed restriction violations
ion of legal procedures for collection by Board of Directors Refer delinquent accounts to attorney for collec tion Owners with past due balances of 3 year s or more and/or deed restriction violations Lawsuit (JP Court) process – Assoc iation may also seek judgment in Small Claims Court .
1. Send final demand lette r to include any deed restriction violations – a. Certified letter Fee $10 & Send by regular mail and give 30 d ays b. Deed Restr iction pictures taken c. Lawsuit fi led – add filing fees to balance Collection Policy Page 2 The Association may send one or more letters (follo wing any grace period) notifying the member / prope rty owner of the delinquency, in accordance with Board instructions. The final letter shall be sent via c ertified mail, return receipt requested, and a copy sent by regular mail. Such final letter shall include the language required by Chapter 209 of the Texas Property Code, whereby the owner shall be notified of the owner’s right to appear before the Board of Directors, and shall be notified of the fact that additional fees and co sts will likely be added to an account which is eventually r eferred to an attorney for collection. The respect ive owner shall be responsible for all postage costs associat ed with the delinquent notice(s) that are sent.
The Association shall permit delinquent homeowners to pay all amounts, delinquent or otherwise, owing to the Association by way of a monthly payment plan, w hich must be reduced to writing and signed by the respective property owner(s). A reasonable fee sha ll be assessed to the owner’s account for preparati on of the payment plan, along with a monthly administrative f ee for each received and processed. For the durati on of
er(s). A reasonable fee sha ll be assessed to the owner’s account for preparati on of the payment plan, along with a monthly administrative f ee for each received and processed. For the durati on of the payment plan, interest will continue to accrue against the delinquent assessments appearing on the account, however, late fees and/or collection costs will be waived during the duration of the payment plan.
The minimum term of a payment plan shall be three ( 3) months, and the maximum term shall be eighteen ( 18) months, according to Texas law. Should a homeowner fail to honor the terms of a payment plan, the Association is not required to offer such homeowner any additional payment plan, for a period of two ( 2) years, from and after the date of such owner’s defa ult under the original plan. Partial payments rece ived from owners will be returned to the respective property owners, unless a written payment plan agreement is in place, and such document is signed by the owner(s).
Members / property owners who have not paid their a nnual assessments shall be referred to the Associat ion’s attorney for appropriate collection efforts. The o wner shall be responsible for all legal fees associ ated with delinquent assessments, as well as any other outsta nding balance. In the event that dues and related charges remain delinquent after the attorney’s demand lette r, the attorney shall be authorized to bring such l egal action as is appropriate in a Court of competent ju risdiction, seeking judgment against the property o wners, as well as such other relief at law and/or in equity a s is deemed necessary and appropriate. Formal lega l action shall be brought against those owners and/or proper ties sustaining a delinquent balance and/or which a ccounts
f at law and/or in equity a s is deemed necessary and appropriate. Formal lega l action shall be brought against those owners and/or proper ties sustaining a delinquent balance and/or which a ccounts reflect assessments and related charges which are o verdue, after a vote of the Board of Directors to p roceed with such legal action, which vote shall be conduct ed at a regular or special meeting of the Board, af ter proper notice to owners in accordance with the Texa s Property Code, and the results of such vote shall be reflected in the minutes of the meeting.
Priority of Payments Payments shall be applied in the following order: 1. Any delinquent assessment; 2. Any current assessment; 3. Any attorney’s fees or 3 rd party collection costs incurred by the Association related to efforts to collect assessments or any other charge that could provide basis for foreclosure; 4. Any attorney’s fees not subject to (3); 5. Any fines assessed by the Association; and 6. Any other amount owed to the Association.
Exception, if an Owner is in default on a payment p lan, the Association is not required to apply any payment in the above specified order of priority.
Collection Policy Page 3 Signature San Joaquin Parkway Homeowners Association STATE OF TEXAS § § COUNTY OF GALVESTON § profit corporation, known to me to be the person an d officer whose name is subscribed to the foregoing
profit corporation, known to me to be the person an d officer whose name is subscribed to the foregoing instrument and acknowledged to me that he/she had e xecuted the same as the act of said entity for the purpose and consideration therein expressed, and in the cap acity therein stated.
Notary Public, State of Texas Printed Name