The Board prepared and adopted a collection policy for past due assessments. The Board will file a lien upon members’ property that are over 120 days past due, in accordance with the Code of Virginia §55-516, the Covenants and the Association’s By-Laws. The filing of the lien will follow the initial assessment notice and three past due reminder letters. The first and second reminder letters will be sent 30 and 60 days after the due date, respectively. The final past due notice will, following the Board’s review, notify the member of the Board’s intent to file a lien and will be sent 90 days after the due date and allow 30 days for receipt of payment to avoid the filing of a lien upon the member’s property.

Adopted: February 2, 2005