7 - MANAGEMENT FEES
7.1 Manager shall be compensated for the
services provided under this agreement as follows :
> Management services
........... $3,935.00 per month
7.2 Manager shall invoice Association
for the monthly management fees on or after the first day of the month
of service, Payment shall be due within thirty (30) days. Manager
reserves the right to apply, and Association agrees to pay, a one time
ten (10) percent or S50.00 penalty, whichever is greater, to any undisputed
fees unpaid for more than sixty (60) days after the invoice date.
7.3 For any projects or work not provided
for in this agreement, but requested or initiated by Association, Manager
will quote a rate to Association and will await the approval of Association
before proceeding.
7.4 From time to time additional homes
may be built or additional properties may be annexed into the Association.
Upon the occupancy of new homes or the platting or annexation of the lots,
whichever occurs last, the monthly compensation to Manager shall increase
as described here.
For each new home that is constructed and
occupied over and above the number of homes listed in section 1.1, the
monthly fee paid to Manager shall increase by S2.50 per month. Manager
shall be responsible for calculating changes in fees associated with new
occupied homes.
For each new lot that is platted or annexed
without a home over and above the number of lots listed in section 1.1,
the monthly fee paid to Manager shall increase by $0.90 per month.
Manager shall be responsible for calculating changes in fees associated
with new platted or annexed lots.
8.1 One special source
of revenue for Manager is covered in this agreement , which is not paid
directly by Association. When legal action is required in order to recover
delinquent amounts owed to Association or to enforce compliance with the
Deed Restrictions, Manager shall be entitled to a fee for its part in the
successful resolution. The fees listed below shall be assessed against
the property owner and will only be paid to Manager when Association receives
payment from the property owner. Unless a different policy is adopted
by the Association, Manager shall invoice the owner account for twice the
amount shown and half will be payable to Manager and half retained by Association
as offset to its administrative costs.
> DR forced maintenance administration fee ($ per
work order) 10.00
> DR violations turned over to attorney ($ per
violation)
10.00
> Late fees in February and March
($ per account)
10.00
> Lien/release preparation fee
($ per lien/release)
10.00
> NSF check processing ($ per
check)
10.00
Management Agreement between
Page 5
Association initials:_____
C.-.A. Services, Inc. and
Manager initials:_____
H--rthstone Homeowners Association, Inc.
Effective date: 01/01/2001 |
