ASSESSMENTS AND FEES

TRANSFER FEE
A transfer fee of S100.00 is due when membership privileges transfer from one household to another, such as owner to tenant or in the sale of a property.

ID CARD REPLACEMENT FEE
There is a $10.00 charge for the replacement of the picture ID membership cards.

LAKEFRONT ASSESSMENTS
Waterfront property owners will be charged an additional assessment over and above the General Assessment. The lakefront assessment is levied on the basis of a dollar amount per foot per year.

COMMENCEMENT OF ASSESSMENTS FOR NEW MEMBERSHIP PROPERTIES
Monthly Lake Association dues will begin as of the first of the month following the month in which they join. Association dues will be billed semi-annually, January Ist and July Ist.

SPECIAL ASSESSMENTS
Special assessments may be levied to cover uninsured costs necessary to reconstruct, repair or replace damaged property, to add to Lake Association Properties, to conform to requirements of governmental authorities, to provide necessary facilities or to repay a loan made to the Lake Association to enable it to offer necessary services. The amount of any such special assessment will be the same for all members. However, special assessments, if they are required, cannot exceed five percent (5%) of the budgeted gross expenditures for the year without consent of the delegates representing a majority of the members.

FAILURE TO PAY ASSESSMENTS
The Lake Association Board of directors has the authority to take legal action to collect unpaid assessments. If a member fails to pay assessments, the Board has the right to suspend rights to use the Association facilities, voting rights and further to file suit, impose a lien on his/her lot to collect unpaid assessments.

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