Ballot #4 Covenants Section 3F Assessments

Proposed:
Said assessment may be collected by suit, and by enforcing a special lien on said property. All delinquent assessments shall accrue a penalty of 2% per month compounded annually, which penalty may be collected and enforced the same as assessment. All delinquent assessments referred to a collection agency or attorney for collection, shall in addition to interest, have added to the outstanding balance, all costs of collection (either percentage or otherwise), attorney fees and costs of litigation, which may likewise be collected and enforced the same as provided herein.

Reason:
Late fees are below current market rates. This ballot item stands separate from ballot item 5.