First is that you are charged after the 15th. Your legal agreement with RV3 states the following regarding nonpayment of assessments: ref article IV Section 8
"Any assessment not paid within 30 days after due date shall bear interest...."
Second, the charge for late fee is $20.00 which equates to around 144 percent per anum. Your legal agreement with RV3 states the following regarding interest for nonpayment: ref article IV Section 8
"Shall bear interest from the due date at the rate of 6% per anum"
You can download your covenant agreement at the following address:
http://www.machineautomationproducts.net/rv3/
Looks like we have hired another management company with total disregard for the legally binding agreement that the owners have with the association known as Riverview Third.
I have requested another payment book that is to be in concert with my Covenant Agreement.
