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All monthly assessments and any special assessments or other lawful charges of the Association are due and payable on the first (1st) day of each month. Any payment of the foregoing which is received after the fifteeth (15th) day of the month, regardless of postmark, will be considered late. All payments received, even if the payment has been designated to be applied to a specified obligation, will be applied to the payment of the oldest outstanding charges before being applied to any current charges.
Payment of current charges will be applied to special assessments, repair reimbursements or other lawful charges first, followed by monthly assessments.

Any payment of less than the full amount of all assessments and other lawful charges which are due in any given month or any payment which is made late will cause the Unit Owner to be subject to a late charge of five dollars ($50.00) for that month, which will be added to and deemed a part of the Unit Owner's Common Expenses.

Under appropriate circumstances, the Board will have the authority to credit back any late charge which may have been asses~ed to a Unit Owner's account.

Unit Owners who are delinquent in the payment of Common Expenses are subject to legal action in accordance with the provisions of the Declaration and Bylaws. Once legal action has been commenced, all legal fees and costs will be assessed to the Unit Owner as required by the Declaration and Bylaws.

Coupon books are mailed to Owners each year in December.

Payments made directly to the Management Office must be processed manually and will incur a convenience fee.