SOCIETY HILL AT PISCATAWAY CONCOMINIUM

ASSOCIATION, INC.

(the “Association”)

 

POLICY RESOLUTION NO. ______

 

REGARDING THE ARREARAGE PROCEDURE AT THE ASSOCIATION

 

WHEREAS, Section 5.11 of the Society Hill at Piscataway Condominium Association, Inc.’s (the “Association”) By-Laws (the “By-Laws”) states that the Board of Trustees (the “Board”) “shall have and exercise all lawful powers and duties necessary for the proper conduct and administration of the affairs of the Association… and may do or cause to be done all such other lawful acts as are required by law, by these By-Laws or otherwise directed or required to be done or exercised by the members of the Association.”

WHEREAS, Section 5.13 of the Association’s Declaration (the “Declaration”) provides that “the owner or co-owners of each unit are bound to contribute as set forth in Article XIII of the By-Laws towards the expense of administration, maintenance, repair and replacement of the said common elements, expenses declared common by this Declaration or the By-Laws, and the expenses of administrating and maintaining the Association…”

WHEREAS, Section 4.04 of the By-Laws provides that payment by Members of his share of the above cited expenses, “shall be made in the amount from time to time fixed by the Trustees,…”.

WHEREAS, Section 5.11 of the By-Laws provides that the Board shall have the power to “collect delinquent penalties, fines, levies or assessments made by the Association through the Board against any dwelling units and their respective owners thereof, together with such costs and expenses incurred in connection therewith, including by not limited to court costs and attorneys’ fees, whether by suite or otherwise…”

WHEREAS, the Board desires and believes it is necessary to establish a uniform procedure for handling unit owners who fail to pay monthly maintenance fees in a timely manner.

NOW, THEREFORE, BE IT RESOLVED, as follows:

1.         Monthly maintenance assessments or other monetary obligations are to be paid by unit owners on the first day of each month or as they come due in the Association’s ordinary course of business.

2.         If any unit owner fails to pay his or her monthly maintenance assessments or other monetary obligations by the 30th day of each month, management will forward a demand letter for the amounts due.

3.         If, after receiving a demand letter from management, a unit owner fails to pay in full, all amounts due and owing, within 45 days from the original date due, the matter shall be referred to the Association’s counsel for further action, which may include recording a lien against the Unit, and/or initiation of a lawsuit or foreclosure proceeding.

4.         Notwithstanding the foregoing, the Association reserves the right to exercise any and all rights and remedies available to it at law, in equity, and/or pursuant to the Declaration and/or the By-Laws for any unit owner’s failure to comply with the obligations as set forth above. This includes the Association’s right to collect accelerated fees as set forth in Section 4.06 of the By-Laws.

5.         Any provision contained in any previously adopted resolution of the Association which conflicts with any provision set forth herein shall be deemed void and the provisions contained herein shall govern.

6.         Should any provision herein be determined to be invalid, the remaining provisions hereof shall remain in full force and effect.

SOCIETY HILL AT PISCATAWAY CONDOMINIUM ASSOCIATION, INC.

Resolution Type: ______Policy______  No. __________

Pertaining To: The Arrearage Policy at the Association

Duly adopted at a meeting of the Board of Directors of Society Hill at Piscataway Condominium Association, held this ____1st____ day of __December__, 2003.

 

                                                                        Vote:

Officer                                                              YES     NO      ABSTAIN       ABSENT

  (signed by Gerald Adelman)

___________________________, Trustee     _X_     ___      _______          _______

  (signed by Joanne O’Beirne)

___________________________, Trustee     _X_     ___      _______          _______

  (signed by Madan Sharma)

___________________________, Trustee     _X_     ___      _______          _______

  (signed by Debra Martolis)

___________________________, Trustee     _X_     ___      _______          _______

 

___________________________, Trustee     ___      ___      _______          _______

 

Attest:

  (signed by Fred Robinovitz)

_________________________________      __________12/1/03_______________

                                    ,Secretary                     Date

 

File:

 

Book of Minutes – 200__

Book of Resolutions:

                                                                        Book No.                     Page No.

 

Policy                                                               _________                  __________

Administrative                                                   _________                  __________

Special                                                             _________                  __________

General                                                            _________                  __________

 

Resolution Effective: ___________________________, 200__.

 

 

 

 

 

 

 

WEB Site httpsdocs/Board/ProposedResolution2004-01.doc, Rev 0