2020 Annual Assessments: $175.00 plus $25.00 Special Dam Assessment per lot
Payment Due Date: Annual assessments, special assessments along with fees for additional gate access card fees are due October 1st of each year and will be considered delinquent if not paid within 30 days.
When you purchase property in Tanglewood you automatically become a member of the Tanglewood Lake Owners Association and are obligated to pay assessments.
The Association uses the annual assessments to maintain all of the Association's common property in the best working condition possible. Our properties include, but not limited to, the shelter house, parks and play ground areas, shower house, swimming beach, office and equipment, trash compactor, lake buoys, public docks, entry gates, roadways, waste lagoons, and dams.
The assessments also pay for expenses including state mandated inspections, maintenance and repair of our waste lagoons and three dams, employees wages and work comp insurance, utilities, all maintenance equipment, general equipment maintenance, fuel/oil, vehicle insurance, fish stocking, lake testing and maintenance, and the insurance that covers all of our common properties.
Non-Payment of Assessments: The consequence of non-payment of association assessments is outlined in our Covenants and Restriction, Bylaws and policies established by the Board of Directors. Consequences of accounts that are 30 days past due include:
All gate access cards associated with the property owner will be deactivated
The reactivation fee for each deactivated gate access card is $25
Accounts may be turned over for collection
Owners will be restricted from use of all common property
Delinquent assessments shall bear interest at the rate of 8% annum until paid
Any costs and fees incurred in processing and collecting delinquent amounts, including, without limitation, interest charges, charges for preparation of delinquency notices or referral to collection, postage and copies, fees assessed by the Association's contracted designated collection agent, and attorney's fees and costs, shall become an additional charge against the owner and the owner's lot and shall become a part of the collectible debt and be subject to collection.
Any account that is one year past due is subject to foreclosure litigation.
Gate Policy: Gate access cards of members who are delinquent in assessments shall be deactivated as soon as possible. This includes all gate access cards assigned to properties legally owned in whole or in part by the delinquent members. Members who have had their gate access cards deactivated will still have access to their private property by walking across the common properties owned by the association. This policy is based on the fact that the gates and roadway are common properties and all common property maintenance is financed by assessment paid by members. The Association has the right to adopt rules and regulations regarding the use of common properties by members.