Payment in full of your 2009 annual dues, as well as any balance owed brought forward from 2008, are to be received by February 2, 2009. Payments not received or postmarked by February 2, will be charged a $25.00 late fee and interest will accrue from the due date at the rate of 12 percent per annum. Overdue accounts are also subject to additional costs of collection including, but not limited to attorney fees.
In addition to the late charge and interest, the association has the right to file suit, and/or to file a lien against the property of a person who does not pay his/her dues. If suit is filed or a lien taken, all cost of doing so have to be paid by the person who didn't pay the dues in the first place.