- Declarations Violations Process
- Snow Mitigation Guidelines
- Collections – Fees in Arrears Policy
- Reserve Funds Investment Policy
DECLARATIONS VIOLATION PROCESS
Most instances in which a unit owner is not compliant with a section of the Declarations of Ownership are unintentional and can be quickly resolved with a simple discussion or note. For those rare instances where the unit owner is not willing to comply (or disagrees) with the Declarations, the following process exists:
1. Upon official notification of a violation, the unit owner (or tenant) has one (1) calendar month to correct the violation or request a meeting with the Board or Committee (as appropriate) to discuss. Official notification may be given verbally or in writing by the Association’s property manager.
2. If the Unit Owner DOES NOT request a hearing with the Board of Trustees:
2.A. If the violation is not corrected within the calendar month, the property manager will send a written notification detailing the violation and corrective action required.
2.B. If the violation is not corrected within a calendar month of the notification, a $50 assessment will be levied.
2.C. An additional $50 assessment will be levied for the next calendar month, and $100 for each additional calendar month thereafter, until the infraction is corrected.
2.D. If the violation is not corrected within 3 calendar months of the fine, the board may choose to take legal action for non-payment.
3. If the Unit Owner DOES request a hearing with the Board of Trustees:
3.A. The homeowner will present any mitigating circumstances, and the Board may, in its discretion, issue a waiver of the infraction. Or if the Board deems the policy under question unfair or inappropriate, it may be changed at that time.
3.B. This waiver applies only to infractions where the Board or Trustees has discretionary authority, not to those areas defined in the Association Covenants and Regulations (Exhibit B-2 of Association Declaration).
3.C. The homeowner may appeal the policy to the Association in general. Provisions for changing the Association Covenants are stated in Section 13.1 of the Association Regulations (Exhibit B-2 of the Association Declaration).
3.D. An appeal to the Board of Trustees (as defined in Section 3) will not affect the timeline detailed in Section 2 of this policy.
SECTION 7.1 – SNOW MITIGATION GUIDELINES:
In the event of two (2) inches (note: 4”, if offered by contractor) or more of snow, the contractor is authorized to perform the following:
“Road –” cleared by plow. No salt unless specifically requested by the Association manager
“Drive –” cleared by handwork (snowblower) and driveway. No salt.
“Sidewalks –” no action to be taken. [Unit owners are strongly recommending using the garage as an entrance]
When possible, the contractor will wait until the episode has ended to take action. This provides for the most cost-effective and efficient clearing and treatment.
If the unit owner chooses to salt the concrete walkway, do not use sodium chloride on cement, as it may cause spalling. Unit Owner will be responsible for repairs.
In the event that there is ice, freezing rain, sleet, and/or snow of less than four (4) inches, the decision to authorize the contractor to perform work will be made cooperatively among the Board, the property manager, and the contractor. The weather forecast will be considered. Safety is the principal consideration.
The Board may update or modify these guidelines at its discretion.
Policy amended 8/01/2022 and was based on a survey of all unit owners.
COLLECTIONS – FEES IN ARREARS POLICY
Section 6.11 of the Canterbury Village Declarations describes assessment remedies (collections). What follows adds detail and clarification to this section.
Step 1) Late fees will be applied as described in section 6.11.1
Step 2) If the monthly assessment is not paid for two months (or the cash equivalent), then a letter of non-payment will be sent from the Property Manager asking for payment and explaining the risk of a lien.
Step 3) If the monthly assessment is not paid for three months (or cash equivalent), then a letter of non-payment will be sent from the Association attorney notifying the unit owner that they are subject to a lien being filed against the property.
Step 4) If the monthly assessment is not paid for 4 months (or a cash equivalent), the Association’s attorney will be instructed to file a lien. Once a lien has been issued, no partial payments will be accepted, and all payments must be brought current before the lien may be lifted.
Step 5) The Board, at its discretion and with the advice of legal counsel, may start foreclosure proceedings at any time after a lien has been secured.
Step 6) Once the account is made current, the Board may, at its discretion, release the lien or leave it in place until it is satisfied that the account will remain current.
Note 1) As described in Section 6.11, all collection costs, including any attorney fees, will be assigned to the delinquent unit owner.
RESERVE FUNDS INVESTMENT POLICY
Revision date: May 27, 2020
Strategy: The Association, as directed by the Association Board of Trustees, may invest our reserve funds (accrual account) in a conservative manner that is consistent with the following goals, listed in decreasing order of importance.
1. Safety of principal – a conservative portfolio designed to preserve capital and current income.
2. Liquidity and accessibility – funds should be readily available, consistent with the Association’s reserve analysis, with provisions for unanticipated expenses.
3. Returns – funds should be invested to seek the highest level of return that is consistent with the preservation of the purchasing power of the principal and the accumulated returns.
4. Professional funds management – funds should be managed by a professional investment manager.
The specific investments in the Association’s portfolio will, at the direction of the Board of Trustees and the advice of a professional investment manager, consist of money-market funds, bank certificates of deposit, fixed-income securities, mutual funds, equity securities, and investment-grade bond funds. The Treasurer of the Board of Trustees will monitor the Association’s investment activities and report to the Board the status and activities of this portfolio on a quarterly basis, or sooner if conditions dictate. Any change or reinvestment of the Association’s portfolio will be implemented only with the knowledge and consent of the entire Board of Trustees.