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I. Each fall, the Board prepares and distributes to each homeowner a proposed budget for the upcoming calendar year. This budget reflects the estimated cost of services and supplies for the Groves of Hidden Creek Condominium I and a portion of the Groves of Hidden Creek Community Association. Homeowners are notified of the Board meeting to discuss the adoption of the proposed budget. This budget is divided as assessments among the unit owners based on their percentage of ownership as required by the Illinois Condominium Property Act. A. All assessments and any special assessments or other lawful charges of the Association are payable on the first of the month. Any payment received after the 10th of the month, or if the 10th falls on a weekend or a Holiday, the first business day following the 10th, is considered late. Late payments are subject to a $25.00 late charge II. Assessment payments must be sent to the Managing Agent: A. Payments can be sent by mail, but sufficient time must be allowed for the payment to be delivered to the Remittance Center by the 10th, or if the 10th falls on a weekend or a Holiday, the first business following the 10th. B. Payments may also be direct debited each month. C. Payments that are mailed or hand-delivered to the Managing Agent's office are subject to a convenience fee for hand processing. III. The Board may waive late fees under the following circumstances: A. When the late fee(s) is a result of the Managing Agent's or Board's error, or caused by circumstances beyond the control of the homeowner, Managing Agent or Board B. When the homeowner sends a written request to waive one late fee (no reason is necessary) and no late fee has been waived for the homeowner without reason before. C. The Board cannot waive assessments or costs associated with collecting assessments such as legal fees. IV. Homeowners, whose account becomes 30 days past due, will receive a delinquency notice from the Managing Agent requesting payment in full within 10 days. Owners are encouraged to work out a payment plan before their account is sent to the attorney to avoid any additional costs as outlined below. A. Money owed in the account may include, but not be limited to: 1. Assessments and special assessments 2. Work done by the Association for the homeowner, such as siding, roofing, etc. 3. Late fees 4. Costs of collecting assessments, such as attorney fees, court and sheriffs costs 5. Fines and costs to restore common elements 6. Administrative charges B. Homeowners unable to pay in full within 10 days should notify the Board in writing or the Association will turn the homeowner's account over to the Association's attorney, and the homeowner will be responsible for any legal costs incurred. The homeowner's written request , sent to the Managing Agent, must include: 1. A specific repayment schedule 2. A partial payment toward the delinquency 3. Reasons for the late payment may be included, but are not required C. The Board will review written requests for payment plans at the next scheduled monthly meeting. The Board reserves the right to accept or reject any deferred payment plan. V. Homeowners whose account is 45-60 days in arrears and without a Board approved payment plan will be turned over the Association's attorney: A. The Association's attorney will begin collection of the account as allowed in the Declaration and By-Laws of the property and the Illinois Condominium Property Act. B. All legal fees necessary to collect past due assessments are the homeowner's responsibility and shall become part of the assessment amount due. C. Once the account is turned over to the Association's attorney, all correspondence from the homeowner regarding the account can only be sent to the Association's attorney. D. The Board will still consider written payment plans sent via the attorney after the account has been turned over to the attorney. VI. Legal proceeding for collection include: A. At 60 days past due, a Notice and Demand for forcible Entry and Detainer is sent by the attorney requiring payment in full within 30 days. Attorney's fees for this notification are added to the homeowners account. Homeowners not complying with this request may lose possession of their unit. B. At 90 days past due, a Compliant for Forcible Entry and Detainer is prepared to be filed in court. Notice of this preparation is provided to the owner allowing seven days to pay in full. Additional attorney fees are assessed for complaint and notice preparation. C. At 120 days past due, the Forcible Entry and Detainer Complaint Motion is filed with the court. Court costs and Sheriffs costs, in addition, attorney fees accrue. Further costs and time frames are determined through the court proceedings until possession or the Association acquires the unit. VII. The Board reserves the right to alter these proceedings and use other remedies allowed under the Declaration and By-Laws of the Association and/or available by statute. VIII. If a homeowner submits a "NSF" check: A. There will be a fine in an amount agreed to by the Managing Agent and the Board B. There will be a late charge and possible collection actions taken as if the check was not received C. If a homeowner submits more than one "NSF" check within 12 months: 1. The Association requires the homeowner to replace the "NSF" check with a certified or cashier's check or money order within 30 days. No cash can be accepted. 2. There will be a fine in an amount agreed to by the Managing Agent and the Board. 3. There will be late charges and possible collection actions as if any "NSF" checks were not received. 4. If the funds are not submitted in the proper form within the required 30 days, the homeowner will be responsible for the original amount, owing, late fees, attorney's fees, court costs and other damages triple the original amount owing. Furthermore, the Association shall require that future monthly payments to the Groves of Hidden Creek Condo I shall be made by certified or cashier's check or money order until such time the Board approves the owner's written request to pay by personal check. The owner's request must explain to the Board why the Board can be assured that the homeowner's personal check will be honored by the bank. The Board reserves the right to accept or deny any such request Payments made directly to the Management Office must be processed manually and will incur a convenience fee. Direct Debit
for the payment of assessments is available. In many cases, you can also use your
online banking service to pay your bill. Remember to provide your
17-digit account number, which is located at the bottom of your payment
coupon. Please avoid using slashes, spaces or dashes since they could
delay the processing of your payment. You'll also need the following
address:
If you need a replacement coupon book or
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