Wilderness Lake Preserve

Wilderness lake Preserve Homeowners' Association, Inc.

Approved Collection Policy for Master Assessments - April 20, 2010

The following policy was adopted by the Board of Directors for the collection of the Master homeowner assessments for all 948 units.

* Assessments for the Master account are due on or before January 1st of each year.

* Assessments are considered delinquent if payment is not received by the 15th of the month.

*On the 15th of the month a collection notice will be sent advising the homeowner that interest will be incurred if not paid by the 31st of the month. The interest will be calculated from the due date

(January 1st) at a rate of 18% per annum or 1.5% per month per Florida Statutes.

* On the 15th of the month when the collection notice is sent, the homeowner will also be notified that a collection charge of $15.00 has been added to the balance due.

* If payment in full is not received within 15 days of the collection notice, a pre-lien letter will be sent and the fee of $47 for the pre-lien letter will be added to the homeowners account in accordance with the Florida Statutes and will be owed by the homeowner.

* If payment in full is not received within 45 days of the pre-lien letter being sent, the account will be sent to an attorney to file a lien against the property and the homeowner will incur an additional $35. The homeowner will also be liable for all costs and fees associated with the lien.

Interest will continue to accrue until such time that the lien is paid.

* Transferring a delinquent account to an attorney to file the lien requires Board of Directors approval.

* As of this date the Board of Directors has not approved any payment plans except the one outlined above. Any member who desires to pay their assessments in a manner different than outlined must submit their request in writing and the Board of Directors will review each request on an individual basis.

* Board of Directors approval will be required for attorney to proceed with foreclosure proceedings.

We've put our association online to provide you with more convenience and a wealth of online services and opportunities to share ideas and information; get news and announcements; access an online resource center for important association documents and forms;  utilize the member directory; and much more.

We're excited about offering online association services and consider the service a valuable amenity for the association.  For an overview of the service and a few ideas as to how it can help save you time and get you connected with our community, click the "Read More" button.

We hope you'll take advantage of this new service. Your input and suggestions will be appreciated.