Monthly Assessments / Owners in good Standing

Monthly assessment fees are due on the first day of each month. The fifteen (15) day grace period is for the sole purpose of postal delays. Late charges will be automatically imposed for any fee that is fifteen (15) days or more overdue.

Regular monthly assessment fees, for budgeted common expenses, will usually remain constant throughout the year. However, (from the Declaration): the Executive Board shall have the power, at any time “and from time to time” as it deems necessary and proper, to levy one or more special assessments against each unit owner. Fees will not be withheld in part or total to register discontent with either performance or service. Procedures are in place and should be used to satisfy grievances.

It is anticipated that residents will comply with all Rules and Regulations. In the event of a non-compliance, the Enforcement Policy will be invoked by the Executive Board. It is the obligation of all owners, tenants, and landlords to be in possession of condominium documents, including the Rules and Regulations and knowledgeable as to their content. These Rules and Regulations may be modified, added to or repealed at any time by the Executive Board or the Association as provided by the Declaration.

Owners in good standing are guaranteed all rights and privileges as stated in the condominium documents. These rights and privileges include, but are not limited to, eligibility to vote as stipulated. To seek redress of grievances when relevant. To use all facilities as documented in the Rules and Regulations, and to apply for any construction, enhancement or replacement when such application follows approved guidelines of the Association. The phrase “Owners in Good Standing” is defined as any owner whose property is free of liens imposed by action of the Executive Board of Liberty Square; any owner whose monthly fees are no more than two (2) months in arrears; any owner not involved with the Enforcement Committee in a hostile action giving no evidence of intent to resolve differences.