Date of Commencement of Assessments; Due Dates; Charges for Late Payments Sample Clauses

Date of Commencement of Assessments; Due Dates; Charges for Late Payments. A single written notice (the Schedule of Assessments) shall be given annually to each Unit Owner not later than thirty (30) days prior to the commencement of each fiscal year setting forth the Common Assessment payable by such Unit Owner for the succeeding fiscal year and any Extra Common Assessments and Special Assessments known at the time of such notice. Written notice of Extra Common Assessments and Special Assessments levied after the first of the fiscal year, and any adjustments to Common Assessments Approved by the Board, shall be given to each Unit Owner by the Facility Operator at least thirty (30) days prior to their due date. The Schedule of Assessments, or any amendment thereof, shall specify the amounts and due dates for installment payments of the Assessments by each Unit Owner. Common, Special and Extra Common Assessments which appear in the annual notice shall be paid by each Unit Owner to the Facility Operator in equal monthly installments, in advance, on the first day of each month, unless some other due date is established by the Board. Extra Common and Special Assessments not contained in the annual notice shall be paid to the Facility Operator within thirty (30) days of receipt of a notice to pay same. Each installment of Common, Extra Common and Special Assessments shall become delinquent if not paid within ten (10) days after due. Interest thereon shall accrue on each delinquent installment at the rate of ten percent (10%) per annum on the unpaid amount calculated from the date delinquent to and including the date full payment is received by the Facility Operator.
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Related to Date of Commencement of Assessments; Due Dates; Charges for Late Payments

  • Interest on Late Payments a. State Agencies The payment of interest on certain payments due and owed by Agency may be made in accordance with Article 11-A of the State Finance Law (SFL §179-d et. Seq.) and Title 2 of the New York Code of Rules and Regulations, Part 18 (Implementation of Prompt Payment Legislation -2 NYCRR §18.1 et seq.).

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