Linn Valley Lakes Explanation of POA Assesments

Explanation of POA Assessments

When you purchase property in Linn Valley Lakes you automatically become a member of the POA and are obligated to pay assessments. Assessments are due the first day of the month and considered delinquent the last day of the month. Assessments may be paid monthly, quarterly, semi-annually or annually. As long as payments are received in advance interest will not be charged. Interest of 6% per annum is charged on assessments that are delinquent.

Assessments are the primary source of revenue for operating and maintaining the recreational facilities of Linn Valley Lakes. These properties, which are owned in common by all property owners, include the golf course, lakes, swimming pools, clubhouses, etc.

The consequence of non-payment of POA assessments is outlined in our governing documents: The Declaration and Protective Covenants and the Bylaws.

An assessment balance equal to or greater than the amount of the current years assessments will be turned over for collection via an outside agency.

Gate Policy

REGARDING MEMBERS WHO ARE DELINQUENT ON THEIR ASSESSMENTS JUNE 18, 2005

The Board of Directors hereby adopts a policy that gate passes of members of Linn Valley Lakes Property Owners Association, who are delinquent in regard to their assessments, shall be deactivated as soon as possible by the General Manager of the Association. Members who have had their gate passes deactivated will still have access to their private lots by walking across the common properties owned by the Association. This policy is based on the fact that the operation of the gate and the maintenance of the roads are financed by assessments paid by members. The gate and the roads are common properties owned by the Association. The Association has the right to adopt rules and regulations regarding the use of common properties by members. Assessments are due the first of each month and will be considered delinquent if not paid by the last day of the month.