LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member covenants and agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this agreement, the Member shall pay to the Cooperative a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Monthly Housing Charges, or part thereof, more than 10 days in arrears. If a Member defaults in making a payment of Monthly Housing Charges or in the performance or observance of any provision of this agreement, and the Cooperative has obtained the services of any attorney with respect to the defaults involved, the Member covenants and agrees to pay to the Cooperative any costs or fees involved, including reasonable attorney's fees, notwithstanding the fact that a suit has not yet been instituted. In case a suit is instituted, the Member shall pay the cost of the suit, in addition to other aforesaid cost and fees.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. Assessments are delinquent if not paid within fifteen (15) days after they become due. In addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, if an Assessment is delinquent, the Member shall pay to the Cooperative a late charge not to exceed ten percent (10%) of the delinquent Assessments or ten dollars ($10.00), whichever is greater. In addition to late charges imposed on delinquent Assessments, Member shall pay all reasonable costs incurred by the Cooperative in collecting the delinquent Assessments, including reasonable attorneys' fees and interest on all sums due, including the delinquent Assessments at twelve percent (12%) annual interest commencing thirty (30) days after the Assessments becomes due. In the event either party to this Occupancy Agreement institutes legal action against the other party to interpret or enforce this Occupancy Agreement or to obtain damages for any alleged breach of this Occupancy Agreement or to enforce payment of any late charges pursuant to this Article, the prevailing party in such action shall be entitled to an award of reasonable attorneys' fees and other costs of suit.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. (a) The Member covenants and agrees that, in addition to the other sums including maintenance and repair charges that have become or will become due, pursuant to the terms of this agreement. The Member shall pay to the Cooperative one or more late charges in an amount to be determined from time to time by the Board of Directors for each payment of Monthly Charges, or part thereof, more than 10 days in arrears.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member covenants and agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, the Member shall pay to the Corporation a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Carrying Charges, or part thereof, more than 10 days in arrears. If a Member defaults in making a payment of Carrying charges or in the performance or observance of any provision of this Agreement, and the Corporation has obtained the services of any attorney with respect to the defaults involved, the Member covenants and agrees to pay to the Corporation any costs or fees involved, including reasonable attorney’s fees, notwithstanding the fact that a suit has not yet been instituted. In case a suit is instituted, the Member shall also pay the costs of the suit, in addition to other aforesaid costs and fees. All payments by the member to the Cooperative shall first be credited to the member=s outstanding balance, if any, for attorney fees and court costs, repairs or delinquent carrying charges, late fees, and lastly to the current month=s carrying charges. If a member defaults in making a payment of carrying charges or in the performance or observance of any provision of this agreement, and the Cooperative has obtained the services of an attorney with respect to the defaults involved, the member covenants and agrees to pay to the Cooperative any costs or fees involved, including reasonable attorney=s fees. If the Cooperative prevails in defending a claim or counterclaim brought by the member against the Cooperative, its employees or agents, Member agrees to pay any costs or attorney fees involved.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. Member covenants and agrees that, in addition to all other sums that are or may become due and payable under the terms of this Agreement, Member shall pay to Corporation a “Late Charge” in an amount periodically established by the Board of Directors. A late charge shall be assessed in the case of each payment of Carrying Charge, or part thereof, remaining unpaid after 4:01 PM
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member covenants and agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this agreement, the Member shall pay to the Corporation a late charge set by the Board of Directors for each scheduled monthly payment of Carrying Charge, or part thereof, more than 10 days in arrears. In addition, in the event that a Member defaults in making a payment under this agreement, which results in the Corporation's obtaining the services of an attorney with respect to the said default, the Member covenants and agrees to pay to the Corporation any and all costs or fees involved, including reasonable attorneys' fees notwithstanding the fact that a suit may not have yet been instituted. In the event a suit is instituted, the Member shall also pay the costs of such suit, in addition to the other aforesaid costs and fees. EASTWICK SQUARE COOPERATIVE, INC. by (Seal)
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member agrees that, in addition to the other sums that have become or will become due, pursuant to the terms of this Agreement, the Member shall pay to the Corporation a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Carrying Charge, or part thereof, more than ten (10) days in arrears. If a Member defaults in making a payment of Carrying Charges or in the performance or observance of any provision of this Agreement and the Corporation has obtained the services of an attorney with respect to the defaults involved, the Member agrees to pay the Corporation all attorneys fees and costs incurred by Corporation, notwithstanding that a lawsuit is not instituted. In addition, the Corporation shall have a right of set-off against the Member’s Transfer Value for the Unit as established by the Corporation’s bylaws for all amounts the Member may owe to the Corporation at the expiration or termination of this Occupancy Agreement.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member agrees that, in addition to the payment of any other sums that have become or will become due pursuant to the terms of this Agreement, the Member will pay to the Corporation a late charge in an amount determined from time to time by the Board for each late payment of the Carrying Charges, or any portion thereof, which is more than 10 days late. If a Member defaults in making any payment of Carrying Charges to the Corporation or in the performance or observance of any provision of this Agreement, and the Corporation obtains the services of an attorney as a result of such defaults, the Member agrees to pay to the Corporation any costs and attorney fees involved, notwithstanding the fact that a suit had not been instituted. If suit is filed, the Member will also pay all court costs and litigation expenses in addition to the attorney fees incurred.
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Stockholder agrees that, in addition to the other sums that have become or will become due, under the terms of the Occupancy Agreement, the Stockholder shall pay the Mutual a late charge of $10.00 or 10%, whichever is greater, for each Carrying Charges payment, or part of the Carrying Charges payment, that is more than 15 days in arrears. Both state law and the Corporation’s governing documents provide for interest on the delinquent assessment, late charges, and collection fees costs. Accordingly, interest may be imposed thirty (30) days after the assessment is due, at an annual percentage rate not to exceed Twelve Percent (12%), consistent with Civil Code Section 5650. If stockholder defaults in making a payment of Carrying Charges or in the performance or observance of any provision of this Agreement, and the Mutual has obtained the services of any attorney with respect to the defaults involved, the Stockholder agrees to pay to the Mutual any costs or fees involved, including reasonable attorney's fees, notwithstanding the fact that a suit has not yet been instituted or does not go to judgment. If the Mutual files suit, the Stockholder also agrees to pay the cost of the suit. NOTE: THE TERM OF THIS OCCUPANCY AGREEMENT IS AUTOMATICALLY RENEWABLE FOR SUCCESSIVE THREE- YEAR PERIODS UNDER THE TERMS AND CONDITIONS OF ARTICLE 4. THIS AGREEMENT IS SUBJECT TO THE LIMITATIONS IMPOSED BY CIVIL CODE SECTION 51.3 AND AS LATER AMENDED REGARDING SENIOR HOUSING. SEAL BEACH MUTUAL NO. SIXTEEN STOCKHOLDER [Mutual Officer’s Name] [Title] [Stockholder’s Name] [Mutual Officer’s Signature] [Stockholder’s Signature] [Stockholder’s Name] [Stockholder’s Signature] [Stockholder’s Name]
LATE CHARGES AND OTHER COSTS IN CASE OF DEFAULT. The Member covenants and agrees that, in addition to the other sums that have become or will become due, according to the terms of this Agreement, the Member shall pay to the Cooperative a late charge in an amount to be determined from time to time by the Board of Directors for each payment of Carrying Charges in arrears. Until further notice from the Cooperative, the late charge is $ , (initials) for each payment of Carrying Charges more than five (5) days in arrears. If a Member defaults in making a payment of Carrying Charges or in the performance or observance of any provision of this Agreement, and the Cooperative has obtained the services of any attorney with respect to the defaults or fees involved, Member agrees to pay to the Cooperative, any such costs or fees, including actual attorney's fees, even though a suit has not yet been started. In case a suit is started, the Member shall also pay the costs of the suit, in addition to other costs and fees as permitted by law. The LIFO (last in first out) method of accounting may be used to pay any fee or other charge first before applying funds received to any arrearage.
