Agenda - Council - 07/28/1987 - Laserfiche WebLink

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- 32 - Impose interest charges at the highest rate allowed by law for any delinquent assessment payments. Impose administrative charges (in addition to interest), in amounts up to 25% of each delinquent installment for each such delinquent assessment payment. In the event of default of more than 30 days in the payment of any assessment or installment thereof, ~tl remaining installments of assessments assessed against the defaulting Owner or Occupant may be accelerated and shall then be payable in full, forthwith at the call of the Board. of Directors. Prior written notice of such acceleration shall be given to the defaulting Owner or Occupant. Impose reasonable monetary penalties for each violation of the Governing Documents, and the Rules and Regulations and for the continuing violation thereof, other than delinquent assessment payments. Foreclose any lien arising under the provisions of the Governing Documents or under law, in the manner provided for the foreclosure of mortgages in the state where the Property is located. Any assessment, charges, penalties or interest imposed under this Article XIV shall be a lien against the Lot of the Owner or Occupant against whom the same are imposed in the same manner as a lien for Common Expenses, and shall also be a personal obligation of such Owner or Occupant. The lien shall attach as of the date of imposition of the remedy, but shall not be final as to violations appealed under Section 14.3, until affirmed in writing following the hearing. Section 14.3 Rights to Hearins. In the case of imposition of any of the remedies authorized by Section 14.2, Paragraph d', the Board of Directors shall cause to be mailed or delivered to the Owner or Occupant against whom the remedy is sought to be imposed written notice specifying the general nature of the violation, the remedy to be imposed and the effective date of such