Condominium Fee Payments Delinquency Procedures

1. All association assessments, fees, and/or fines are payable to Tyng Village Condominimum on the first of each month.

2. Members whose assessments, fees, and/or fines have not been received by the 15th of the month will be charged a $25.00 late fee.

3. All payments are applied to the oldest, incurred outstanding charge. For example, a payment made on July 1 might be applied to a June late charge leaving the member short for his/her July payment therefore subject to a late charge on July 15th.

4. Accounts more than 2 months overdue, and charges older than sixty (60) days shall be subject to notification to the Mortgage Holder, and other appropriate legal action in accordance with Chapter 183A. Any expenses incurred by the Association will be charged to the until owner.

5. The Board of Trustees shall have the responsibility to review and act on disputes involving assessment, fees, and fines. If Unit Owners have any questions involving assessments, fees, or fines contact the management company.

The Board of Trustees encourages Unit Owners to pay assessments in a timely manner, so that funds will continue to be available for needed services within the community.