exhibit b providence master homeowners association design review ...

PROVIDENCE MASTER HOMEOWNERS ASSOCIATION
DELINQUENCY COLLECTION POLICY
Pursuant to Chapter 116 of the Nevada Revised Statutes and the Master Declaration of Covenants,
Conditions and Restrictions and Reservation of Easement for Providence (the "CC&R's") the Providence
Master Homeowners Association ("PMHA") has a lien on each Unit for assessments from the date such
assessment first becomes due. PMHA may enforce its lien rights against accounts delinquent for over
ninety days and has the right, pursuant to applicable state law, to foreclose its lien for unpaid assessments.
Members are responsible for all collection expenses on their delinquent account.
Base Assessments are paid on a quarterly basis and are due on the first day of each quarter of the calendar
year. Base Assessments are delinquent if not paid within thirty (30) days thereafter.
1. If a Base Assessment, Neighborhood Assessment, Specific Assessment, or Special Assessment
(together, "Assessment"), is delinquent for thirty (30) days or more, a "Late Notice Letter" shall be
sent to the Member via first class mail. A notice fee* shall be charged to the Member, and the
delinquent assessment amount shall bear interest at the rate of eighteen percent (18%) per annum,
from the due date.
2. The Late Notice Letter shall include a thirty (30) day time period in which to cure the delinquency, as
well as notification to the Member that failure to cure by the specified date may result in acceleration
of all assessments due for the remainder of the calendar year.
3. If an Assessment is delinquent for sixty (60) days or more, an "Intent to Lien" notice shall be sent to
the Member via first class and certified mail. An administrative fee* will be charged to the Member
for this notice.
4. If an Assessment is delinquent for ninety (90) days or more, a Notice of Lien will be automatically
filed. Collection of all Assessments due for the calendar year may be accelerated with this notice of
lien. The account may be turned over to a Trustee Service or an attorney to file the lien and the
Member shall be responsible for all administrative costs and fees regarding the delinquency.
5. If an Assessment is delinquent for one hundred eighty (180) days or more, the Board may elect to
pursue foreclosure or other remedies as provided in Article 9 of the CC&R's and Nevada Revised
Statutes Chapter 116.
6. Once an account has been turned over to a Trustee Service or attorney, no payments or
communications from the Member will be accepted at the Association office. The Member must then
contact the Trustee Service or attorney directly in order to resolve the delinquency.
NOTE:
THIS DELINQUENCY POLICY AND ALL FEES ARE SUBJECT TO
CHANGE AS THE BOARD DEEMS PRUDENT AND NECESSARY.
*Contact Management to verify amount of this fee.
Community Standards 14
Providence Master Homeowners Association
May 2006