Neighborhood Association for the Old Brook Farm Addition to the City of Fort Wayne, Indiana

A WORD ABOUT DUES ASSESSMENTS...

"SECTION 7. Assessments. Assessments for annual dues for membership and special assessments for other purposes, and their method of payment shall be established from time to time by the Board of Directors." (Quote from By-Laws)

"A proper record shall be kept by the Secretary of all action taken by said Association and of all contracts entered into for the above purposes and of all expenses incurred in connection therewith, and at a meeting of the Association duly called for that purpose, the obligations incurred for such purposes shall be spread upon the records of the Association and an assessment entered on the books of the Association against each of the lots in said Addition in an amount equal to their pro rata share of the total amount of the expenditures so approved. If desired, the Association may levy a similar assessment on each lot in the Addition for the purpose of raising a fund in advance to enable the Association officers to defray the cost of such repairs and improvements." (Quote from Covenants)

 

Each year the Board of Directors meet to prepare a Budget and then determines the amount of dues to be assessed for the coming fiscal year and provides an Official Notification of Dues Assessment for the year. The notification is published in "The Reaper" the newsletter of the Old Brook Farm Association, or is delivered to homeowners as a separate document. Association Dues Assessments are due and payable on or before March 31st each year. From time to time discounts are offered to homeowners who choose to pay their dues assessment on or before the date of the Annual Meeting. For years the dues had been assessed at $25.00 per year.

The Annual Dues Assessment for 2008 is $25.00...

The Board of Directors met in December, 2007, and discussed the annual dues assessment for 2008. Many factors were taken into consideration, the increasing costs for snow plowing, liability insurance, postage and advertising along with the potential need for funding neighborhood improvement projects, etc. The Board agreed to keep the dues assessment at $25.00 per year but to end the discount for attending the Annual Meeting effective with the 2008 fiscal year. This discount was chosen to be discontinued because it would have impact on the least number of folks. The $5.00 discount for early payment remains in effect for 2008. A drawing for eight $25.00 door prizes will replace the discount as an incentive for attending meetings.

Take advantage of the discount on your dues this year. Mail your check for $20.00 prior to the meeting date or pay while attending the Annual Meeting. Payments postmarked or delivered after March 2, 2008 will not qualify for the discount. Mail Checks to: Old Brook Farm Association P.O. Box 15764 Fort Wayne, In 46885. After March 31, any unpaid current year Association Dues Assessments will be declared delinquent and become subject to the filing of a lien against the property.

Prior year Association Dues Assessments have not been paid for only a few of our properties. Formal liens for delinquent dues will be filed and recorded against these properties as provided for in our Covenants. Liens against property can show up on credit reports and can casue delays in closings when homeowners go to sell their homes or property parcels.

The cost of having a lien filed for delinquent dues can be expensive, and if not paid, is collected from the proceeds when the property is sold. The cost to homeowners when satisfying a lien placed for delinquent Association Dues can more than double what it would have cost to pay the Association Dues on time. These costs to the homeowner can include, but are not necessarily limited to, the amount of the dues, plus filing fees to place the lien, filing fees to remove the lien, Notary Fees for both filings, processing costs for both filings, late charges and possible interest. Costs could total as much as $75.00, or more if the delinquency continues for more than one year.

Paying Association Dues Assessments is a part of living in Old Brook Farm and, indeed, most additions in Fort Wayne. The assessment of dues is provided for in the Covenants that are attached to all properties in the addition. Covenants are passed to a homeowner when a property is purchased, “and they shall be considered a part of the conveyance of any lot in said Addition without being written therein.” Homeowners cannot opt out of agreeing to the Covenants, “they shall run with the land.“ The underlined are quotes from the Covenants. Annual dues is $25.00, and is discounted when paid at or before the annual meeting. If you even think you might owe back dues it is to your best interests to check into this matter. Contact Bruce Oliver, our Secretary/Treasurer, at 485-9222 and take care of it now.