Dues and Assessments
The Board of Trustees may levy Special Assessments upon approval of the members, in addition to the regular dues in order to pay for projects.
The first statement of dues payable is mailed about January 15. One-half of the Maintenance and Operations (M & O) dues and all of the Water Assessment is due 30 days after receipt of the January bill. The remaining half of the M & O dues is due by July 1. A statement on overdues is sent every two months which includes interest and a rebilling fee.
Delinquent Accounts and Interest Charges
When an account becomes delinquent, the Treasurer
will notify the delinquent member by letter of the delinquency
and that a lien will be recorded against the delinquent member’s
real property within Ponderosa Estates if payment is not received,
or satisfactory arrangements for payment not made.
“Satisfactory arrangements for payment” means equal,
periodic payments sufficient to pay off the delinquent account’s
balance, including interest, before the next billing cycle for
that account. Unless the member specifies otherwise, payments
on delinquent accounts are to be credited first to Water fees/penalties,
next to Special Assessments, and last to Maintenance & Operations
Delinquent accounts will be charged interest at the rate of one
percent (1%) compounded monthly (annual percentage rate of 12.7%)
and will be billed each thirty (30) days until satisfied.
A rebilling charge of five dollars ($5.00) will be assessed to
cover the costs of setting up each delinquent account. Separate
delinquent accounts will be established for Maintenance &
Operations Dues, Special Assessments and Water fees/penalties,
LIENS AND FORECLOSURES
Ninety (90) days after the billing date, a lien will be recorded
against the property for dues, assessments, fees, fines, penalties,
and costs of collection and filing fees, when an account has not
been paid, or satisfactory arrangements for payment have not been
made with the Board of Trustees. The Treasurer will notify the
delinquent member by letter when a lien has been recorded. The
letter will include details of the next step that can be taken
(foreclosure) and the effects of a foreclosure action.
Foreclosure proceedings will be commenced against the property
when the Board of Trustees concludes the amount to be recovered
is worth the expenses of foreclosure.
Suspension of Liens and Foreclosures
The Board of Trustees may suspend recording of liens and/or initiating
foreclosure action as long as satisfactory arrangements for payment
have been made, and are being complied with by the member.
Quarterly Treasurer’s Report
The Treasurer will provide a written report to the Board of Trustees
at the end of each fiscal quarter providing the totals (by age-date)
of outstanding delinquencies, the totals (by age-date) of recorded
liens and the status of individual foreclosure actions, including
amounts to be recovered and costs incurred to date.