Spelman Memo Regarding Late Dues Payments

Of  LMA Members,  residence owners

February 2002

FROM: Larry Spelman, President

Dues invoices for the year 2002 were mailed out to all unit owners in late November 2001.Payment of dues was due January 1, with a 15 day grace period allowed to January 15.There are approximately 50 owners who are delinquent in paying their 2002 dues.Delinquency notices were mailed out to such owners. As provided by LMA rules, such delinquency notices included a 10% penalty of $69 and a charge for interest for late payment. Some owners receiving such delinquency notices have complained about the penalty and interest assesed for late payment on the ground that they did not receive the original bill. Some difficulty arises in believing this assertion, because the delinquency notices were mailed to the same addresses as the original bills. This matter was discussed by the directors at the February meeting of the Board. It was pointed out that the rules and regulations of The Landings provide that the penalties and interest assesed for late payment are applicable irrespective of whether the original bill is received by the unit owner, so long as the original bill was properly mailed out. We are not going to have hearings to determine whether a bill was actually received. The Board unanimously determined that penalties and interest are due with respect to each late payment.