| Street | ASSOCIATION, INC. By: Name: Jacob Weishe Title: Vice President This instrument was acknowledged before me on on the day of 2021 October by Jacob Weiskoff, Vice Presidentof Southridge Crossing Community Association, Inc., a Texas non-profit corporation, on behalf of said non-profit corporation. KORIR HOESEL NOTARYURY Notary ID #129153235 Kon Hol Notary Public in and for the State of Texas My Commission Expires October 6, 2024 Page 4 of 4 RP-2021-696280 DELINQUENCY COLLECTION POLICY Southridge Crossing Community Association, Inc. ("Association") has adopted this Delinquency Collection Policy ("Policy") to provide guidelines for issues surrounding the collection of delinquent amounts owing to the Association. This Policy supercedes any prior policy adopted by the Association of the same name. This Policy is effective upon recording in the Real Property Records of Harris County, Texas. Late Fees Each owner who has not paid the entirety of any annual or special assessment by the due date, and each owner who has not paid the entirety of any balance owing on such owner's account by the due date (and payment is deemed made only upon receipt of good funds), shall be assessed: (a) An initial late fee of $25.00 per assessment effective 30 days after each assessment becomes due, and (b) On the first day of each month after assessment of the initial late fee, a monthly late fee of $10.00 per assessment until the entirety of the assessments and all accrued late fees have been paid or as otherwise provided by Association policy. Returned Check Fee (Bank Returned Payment Devices) The penalty for a returned check submitted as payment to the Association is a $30.00 fee, plus any applicable bank charges and other costs incurred in collecting the amounts to have been paid by such check. Application of Payments Any payment received and accepted from an owner who is in default under an alternative payment schedule are to be applied against amounts owing to the Association in the following order: (1)any reasonable collection costs incurred (including but not limited to reasonable attorney's fees, court costs, other reasonable collection costs and returned check fees); (2) any accrued interest; (3) any late fees; (4) any other reasonable charge that does not constitute an assessment or fine imposed by the Association; (5) any unpaid assessments; and (6) any reasonable fines levied against the owner by the Association. Payments received from an owner not in default under an alternative payment schedule are to be applied in accordance with applicable policy adopted by the Association. This policy does not require the Association to accept partial payment from a homeowner. Any partial payment received from a homeowner in the absence of a payment plan or arrangement to accept partial payment from the homeowner shall be returned to the homeowner. Partial Payment is payment made for less than the total amount due on a homeowners account. Re-sale Certificates The charge for re-sale certificates and updates to re-sale certificates as provided for under ch. 207, Texas Property Code, is $375.00. Payment in full must be received at the time of the request for such certificate or update; no request for a re-sale certificate or update will be accepted without receipt of payment in full. Page 1 of 2 RP-2021-696280 No policy can apply to every circumstance, and no policy can anticipate every circumstance. Accordingly, to the extent allowed by law, the foregoing Policy is subject to change, and may be changed, set aside, contradicted or not followed, in appropriate circumstances as the Board of Directors deems reasonable and appropriate after due consideration. The Policy does not create any rights in or to any person, and does not create any obligations of any person. This Policy is intended to be for purposes of guidance and to create a general operating procedure for the Board of Directors, management company and Association attorney to follow. A failure to follow this policy shall not create a right in or to any person nor is any deviation or failure to follow actionable in any way or create a defense to any obligation of a homeowner to satisfy his/her financial obligations to the Association. Any failure or decision not to enforce any of the foregoing on any given matter or in any given situation shall not constitute a waiver of any right to enforce the foregoing in any other matter or in any other situation, whether against the same owner or any other owner. The Board of Directors shall have the right to waive compliance with this policy as it deems appropriate. Board of Directors Certificate I hereby certify that the foregoing Delinquency Collection Policy was adopted by the Board of Directors of Southridge Crossing Community Association, Ingat meeting duly called on this day of of, 2021. Director 22 Page 2 of 2 RP-2021-696280 ALTERNATIVE PAYMENT SCHEDULE POLICY Southridge Crossing Community Association, Inc. ("Association") has adopted this Alternative Payment Schedule Policy ("Policy") to provide guidance regarding homeowner requests for payment plans of amounts owing to the Association. The Policy also serves to comply with legislative requirements. This Policy supercedes any prior policy adopted by the Association of the same name. This Policy is effective upon recording in the Real Property Records of Harris County, Texas. The Association will consider homeowner requests for a payment plan for any delinquent regular or special assessments or any other amount owed to the Association. The minimum term for a payment plan offered by the Association is three (3) months. The Association will consider, but is not required to approve a payment plan that extends beyond the minimum term of three (3) months. The Association is not required to enter into a payment plan with an owner who has failed to honor the terms of a previous plan within the two (2) years prior to the most recent request. The Association is not required to enter into a payment plan with a homeowner more than once in any twelve (12) month period. The Association is not required to make a payment plan available to an owner after the period for cure described by Section 209.0064 (b) of the Texas Property Code expires. The Association shall review all proposals equitably and, in consideration of all surrounding circumstances, may or may not accept the request. An owner will not incur penalties associated with delinquent assessments during the term of an approved payment plan unless the owner fails to comply with the terms of the payment plan. For the purposes of this Policy, penalties will include initial and monthly late fees but will not include interest or reasonable costs associated with implementing a payment plan. The Association is not required to accept partial payments from an owner who has not entered into a payment plan approved by the Association. Except as provided below, all payments, whether or not made under a payment plan, received and accepted after January 1, 2012 shall be applied to amounts owing in the following order: (1) any delinquent assessment(s); (2) any current assessment(s); (3) any reasonable attorney's fees or reasonable third party collection costs associated solely with assessments or any other charge incurred by the Association that could provide the basis for foreclosure; (4) any reasonable attorney's fees incurred by the Association that are not subject to subsection (3); (5) any reasonable fines assessed by the Association; and (6) any other reasonable amount owed to the Association, including late fees and/or interest. If a payment is received from an owner who is in default under a payment plan, the payment shall be applied to amounts owing to the Association in accordance with applicable policy adopted by the Association, or as hereafter otherwise determined by the Association, so long as fines assessed by the Association are not given priority over any other amount. For the purposes of this paragraph, fines do not include late fees, interest or attorney's assessed by the Association. Payments received prior to January 1, 2012, shall be applied to amounts owing as dictated by the governing documents, policies and general practices of the Association in effect as of that date. In no event is the Association required to accept partial payment from an homeowner outside of a payment plan. Any payment made by a homeowner for an amount that is less than the total amount then due by a homeowner may be rejected by the Association. No policy can apply to every circumstance, and no policy can anticipate every circumstance. Accordingly, to the extent allowed by law, the foregoing Policy is subject to change, and may be changed, set aside, contradicted or not followed, in appropriate circumstances as the Board of Directors Page 1 of 2 RP-2021-696280 deems reasonable and appropriate after due consideration. The Policy does not create any rights in or to any person, and does not create any obligations of any person. This Policy is intended to be for purposes of guidance and to create a general operating procedure for the Board of Directors, management company and Association attorney to follow. A failure to follow this policy shall not create a right in or to any person nor is any deviation or failure to follow actionable in any way or create a defense to any obligation of a homeowner to satisfy his/her financial obligations to the Association. Any failure or decision not to enforce any of the foregoing on any given matter or in any given situation shall not constitute a waiver of any right to enforce the foregoing in any other matter or in any other situation, whether against the same owner or any other owner. The Board of Directors shall have the right to waive compliance with this policy as it deems appropriate. Board of Director's Certificate I hereby certify that the foregoing Alternative Payment Schedule Policy was adopted by the Board of Directors of Southridge Crossing Community Association, Inc, at a meeting duly called on this 11 day of, 2021. Page 2 of 2 Director RP-2021-696280 COLLECTION REFERRAL POLICY Southridge Crossing Community Association, Inc. ("Association") has adopted this Collection Referral Policy ("Policy") to provide guidance regarding collection actions of the Association management company or Association attorney of amounts owing to the Association. This Policy supercedes any prior policy adopted by the Association of the same name or nature. This Policy is effective upon recording in the Real Property Records of Harris County, Texas. As a general policy, unpaid assessments, whether annual or special, shall be collected in the first instance by the Association management company. The Association management company shall issue all statements for all assessments. For assessments remaining unpaid thirty days after the due date, the management company shall issue up to two (2) follow up notices at not less than thirty day intervals. The management company is hereby authorized to issue all such notices without further authorization or direction of the board of directors. For all assessments remaining unpaid for at least forty-five days after the second notice as set forth above, the management company shall refer such matters to the Association attorney to issue its/his/her demand for payment. The management company shall seek board authorization at a regular meeting of the board of directors before making such referral. Absent special circumstances, such referral shall be made without regard to the identity of the member. The Association attorney shall, upon referral, issue its/his/her demand to each such member and shall, to the extent feasible and allowable, include therein all amounts that are to be charged to the Association for such legal services. The Association attorney may issue a follow up demand in accordance with applicable law. Upon referral, the Association attorney is authorized to issue all such demands without further authorization or direction of the board of directors. Any delinquent accounts not collected by the attorney within a reasonable time after the second demand may be referred back to the management company to be held pending either (a) an instance that would cause the account to be paid or (b) for the next year's assessment. Notwithstanding the above, all accounts in arrears (a) for a period of time not more than the applicable statute of limitations or (b) in the amount of $1,000, including all charges, shall be referred to the Association attorney for final collection. At present, the statute of limitations is four years. Thus, accounts in arrears for three years shall be referred to the attorney for final collection regardless of dollar amount owed. The management company shall seek board authorization at a regular meeting of the board of directors before making such referral. Absent special circumstances, such referral shall be made without regard to the identity of the member. Upon referral, the Association attorney shall be authorized to issue further demands, file lawsuits, or take such other action to collect such accounts as may be lawful and appropriate under the circumstances No policy can apply to every circumstance, and no policy can anticipate every circumstance. Accordingly, to the extent allowed by law, the foregoing Policy is subject to change, and may be Page 1 of 2 RP-2021-696280 changed, set aside, contradicted or not followed, in appropriate circumstances as the Board of Directors deems reasonable and appropriate after due consideration. The Policy does not create any rights in or to any person, and does not create any obligations of any person. This Policy is intended to be for purposes of guidance and to create a general operating procedure for the Board of Directors, management company and Association attorney to follow. A failure to follow this policy shall not create a right in or to any person nor is any deviation or failure to follow actionable in any way or create a defense to any obligation of a member to satisfy his/her financial obligations to the Association. Any failure or decision not to enforce any of the foregoing on any given matter or in any given situation shall not constitute a waiver of any right to enforce the foregoing in any other matter or in any other situation, whether against the same member or any other member. The Board of Directors shall have the right to waive compliance with this policy as it deems appropriate. Director's Certificate I hereby certify that the foregoing Collection Referral Policy was adopted by the Board of Directors of Southridge Crossing Community Association, Inc. at a meeting thereof duly called and held on this day of OC 2021. Page 2 of 2 Director RP-2021-696280 |
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