Dreams Landing Condominium

1st of each month: Condominium fee is due (plus any other related monthly fees;eg: health club fee). 

16th:  fee is late; 10% Late Fee imposed.

17th:  Late letter sent by the management company: includes notification of late fee.

15 days after Late Letter sent: Management sends warning letter that account will be turned over to Attorney. This is the last notification sent by the management company.

15 days after Warning Letter sent: 

• Account turned over to Attorney (without additional notification to homeowner from management company).  Attorney sends a letter requiring payment in full. 

• If payment in full is not received as required, the Attorney will execute the acceleration of the account, making any unpaid balance of the year’s condominium fee due and payable immediately.  

• All payments including late fees, interest, attorneys’ fees, costs, fines, etc. must be made payable to Dreams Landing Condominium in c/o the Attorney who makes appropriate disbursements. 

• After proper notice, the Attorney may place a statutory lien on the property, and in due course pursue foreclosure on property.  

• The management company and its bank are blocked from accepting any payments after the account is transferred to attorney.

• Until payment in full is received, the file remains with the Attorney until the account becomes current.

When the account becomes current, it is returned to the management company for normal future processing.