THE CLIFFS ASSOCIATION
COLLECTION POLICY
The Board of Directors of
the The Cliffs Association adopted
the following policy and practice on October 22nd, 2018. This document
sets forth the Association’s policy regarding the collection of assessments
pursuant to the Association’s Declarations, Bylaws, Conditions and Restrictions,
the Ohio Revised Code as well as Federal Fair Debt Collection practices.
1.
All assessments are due on
the 1st day of the month and are considered late if not received
by the 10th day of the month.
2.
Unit
owners should make payments online via our management system or mail them to
the following address:
The
Cliffs Association
PO Box 360592
PO Box 360592
Strongsville, OH 44136
Or
to such other address as designated by the Board, in writing.
3. An administrative late charge of $25.00 per month will be added
for any late payment or on any balance of unpaid assessments. (Subject to
increase upon further notice.)
4. The Association will apply any payments
in the following order:
A. Interest owed to the Association;
B. Administrative late fees
owed to the Association;
C. Collection costs,
attorney’s fees, and paralegal fees the Association
incurred in collecting the assessment; and, finally,
D. Oldest principal amounts owed for common expenses,
enforcement or other assessments, and any other individual assessments charged
to the account.
5. Any unpaid assessment may result in the Association filing a
lien, a suit for money judgment, and foreclosure. While a foreclosure case is
pending, partial payments may not be accepted and, if the property is rented, a
Receiver may be appointed to collect the rents. Once judgment is obtained, the
Association may proceed with post-judgment action, including bank attachment
and wage garnishment.
6. Any costs the Association incurs in the collection of unpaid
assessments, including
non-sufficient bank fees, attorney’s fees, recording costs,
title reports, and court costs, will be charged
back to the account.
7. If any owner (either by their conduct or by the conduct of
any occupant) fails to perform any act required by the Declaration, the Bylaws,
or the Rules and Regulations, the Association, after giving proper notice and
an opportunity to request a hearing, may levy an enforcement assessment,
undertake such performance, or cure such violation. Any costs the Association
incurs in taking such action will be charged back to the unit owners account.
8. If a unit owner is more than 30 days past due in the payment
of any assessment, the Association may suspend privileges including the right to
vote, the use of the amenities, or the ability to apply for architectural
approval.
As adopted by The Board of Directors and reviewed by Legal Counsel 10/22/2018
