Every owner is required to pay a yearly assessment imposed by the Association. These funds are used for the Common Expenses of the Association. These expenses are incurred in the administration, management, maintenance, and operation of Hearthstone. The current assessment is $430 per-lot, per-year, to be paid by January 30th.
A late charge of $100.00 is imposed if the payments are not received. This late fee is applied up to three months the payment is due. The Management Company will make every reasonable effort to provide you with a statement at least 30 days in advance of the assessment due date. However, failure to receive a bill does not exempt you from paying your assessments.
Failure to pay assessments may result in a lien on the delinquent property and legal action to collect the past due amounts. While the Association prefers not to take these actions, they are required under the terms of the Declaration.