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Resolutions of
Flint Hill Manor Townhouses Association

Resolutions

No. 01  |  No. 02-01  |  No. 02-02  |  No. 02-03

Policy Resolution No. 01:
Procedures Relating to Assessments and Charges

WHEREAS, Article VI of the Declaration of Covenants, Conditions and Restrictions ("Declaration") of the Flint Hill Manor Townhouses Association ("Association") created an annual assessment obligation for all owners of Lots within the Association;

WHEREAS, Article XI of the By-Laws allows the Association to claim a lien on a Lot for delinquent assessments, interest, fees, and costs of collection and to pursue individual owners personally for such sums in the event of a default in the payment of assessments;

WHEREAS, Article IV, Section 7 of the Declaration empowers the Board of Directors to establish the due dates of the annual assessment; and

WHEREAS, the Board of Directors believes that it is in the best interest of the Association to clarify and publish the procedures for the billing and collection of assessments.

NOW, THEREFORE, IT IS HEREBY RESOLVED THAT the Board of Directors duly adopts the following assessment procedures:

I. ROUTINE COLLECTIONS

1. Assessments. Annual assessments shall be set by the Board of Directors. As a convenience to the owners, and except as otherwise provided in this resolution and/or determined by the Board of Directors, annual assessments shall be due in monthly installments. Each installment payment shall be due in advance on the first (1st) day of every month. All special assessments, interest, late fees, or fines (unless otherwise specified by the Board) shall be due and payable on the first day of the next month after the same has been imposed or accrued.
2. Mailing Address. All documents, correspondence and notices relating to assessments or monetary charges shall be mailed or delivered by management to the address on record with the Association. Owners may designate a different mailing address by notifying the Association in writing and specifically referencing the old address and requesting change to the new address.
3. Notice. Non-receipt of an invoice shall in no way relieve the owner of the obligation to pay any amount due by the due date.
4. Charges. Monetary charges assessed for violations of the Declaration, By-Laws, rules and regulations ("Governing Documents") of the Association shall be collected as an assessment or in such manner as shall be determined by the Board of Directors.
5. Management. Unless notified otherwise, all owners shall direct questions regarding assessments to: Hadrian Management Corporation 1440 Emerson Avenue McLean, Virginia 22101

II. REMEDIES FOR NONPAYMENT OF ASSESSMENTS

1. Late Fees/Acceleration. Assessment payments, are due by the first (1st) day of every month. If management has not received a payment by the fifteenth (15th) day of the month or due date, a late fee of Fifteen Dollars ($15.00) or such other amount as determined by the Board, shall automatically be added to any amount due. Late fees shall be a part of any lien on the owner's Lot until all sums due and owing shall have been paid in full. In addition, in the event that an owner defaults in the payment of any annual assessment installment, the balance of the annual assessment shall become due and payable in full.
2. Returned Check Fee. If a check is returned to the Association for any assessment or monetary charge that is due and owing, the owner's account shall be deemed late and in addition to a late fee, any returned check fees or administrative fees incurred by the Association shall be added to the account.
3. Check Privileges. If the Association receives from any owner, in any accounting year, two or more returned checks for payment of assessments, the Board may require all future payments to be made by certified check or money order for the remainder of the fiscal year.
4. Method of Crediting Payments. Payments received from an owner shall be credited in the following order:
1. Charges for attorneys' fees, court costs, legal and administrative expenses.
2. All returned check charges, late fees or accrued interest, as applicable.
3. All other charges imposed by the Association as a result of any violation of the Governing Documents by an owner, his family, employees, agents, lessees or licenses.
4. The monthly and special assessment for the Lot, applied first to the oldest amount due.

III. APPOINTMENT OF ASSISTANT SECRETARY

To expedite the prompt processing and filing of Memoranda of Lien, Peter S. Philbin and Kenneth C. Germer are hereby appointed Assistant Secretaries for the purpose of signing Memoranda of Lien on behalf of the Association.

IV. EFFECTIVE DATE OF RESOLUTION

The effective date of this Resolution shall be April 01, 1999. I hereby certify that this Policy Resolution was duly adopted by the Board of Directors on Feb. 24, 1999 and a copy of the same was published to the owners.