Assessments

Assessments

Annual Fee: $367

When you purchase property in Linn Valley Lakes you automatically become a member of the Property Owners Association and are obligated to pay assessments. Assessments are due the first day of the month and considered delinquent if not paid by 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, clubhouse, etc.

Non-Payment of Assessment

The consequence of non-payment of POA assessments is outlined in our Covenants and Restrictions, Bylaws and policies established by the Board of Directors. Any account that is 60 days past due may be turned over for collection. Fees charged by the collection agency will be added to the amount owed the association for assessments. Any account that is one year past due may be subject to foreclosure litigation.

Gate Policy

The Board of Directors hereby adopts a policy that gate passes of members of Linn Valley Lakes Property Owners Association who are delinquent in 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.