Policy concerning Late Fees added to homeowner accounts:

All assessments which are not paid when due on January 1st of each year, shall be deemed delinquent.  If the assessment is not paid within thirty (30) days after the due date, the assessment shall bear interest from the date of delinquency at the rate of twelve and one-half percent (12.5%) per annum or Twenty Five Dollars ($25.00) per month, whichever is higher. Late fees will begin to be charged to the homeowner’s account on February 1^st of each year and each month thereafter until the account is brought current. 

*Delinquent accounts may include late fees, legal fees, and any prior year(s) assessments.