New Form from Timber Ridge

Here is the link to the file.

Common charges are levied yearly and the total sum is due upon notification of these charges by
the Board of Directors. The Board of Directors has agreed on a five-year basis with each
individual homeowner of Record to accept from such homeowner monthly payments in lieu of the
one yearly lump sum. This agreement may be terminated at any time by the Board of Directors
and is therefore subject to the understanding that the homeowner makes the monthly payments in a
timely manner and in accordance-with-Board Policy. In the event the homeowner becomes
delinquent in monthly payments or any other monies due and owing to the Association, the Board
of Directors,at their sole option, may revoke this agreement with the homeowner and make
demand of the immediate payment of the remaining yearly balance.

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