Article III, Section 4.101 and 4.102: Yearly dues are due January 1 st , delinquent February 1 st of each year. A member may elect to pay ½ of their dues by January 31 st and the remaining ½ on or before July 31 st . If full dues are not paid on or before January 31 st of each year, there is a $20 surcharge added to the remaining ½ of the balance due that is to be paid on or before July 31 st . Late payment results in a 20% penalty, plus interest, plus attorney fees, with the added potential of a lien being filed against that property owner. Dues payments postmarked after AND received after the last payment due date are considered late payments and are subject to the 20% late payment penalty. Late payments create multiple problems for the Board of Directors and cost time and money.