RecD07 2007-087633 - Laserfiche WebLink

Browse Search

(Page ~O of 20) 4.3 Payment Due Dates. The Lot OWner(s) or their designated agents requesting the maintenance, repair and/or replacement work described in Section 3.1 shall prepare and submit a statement to the other Lot OWners that describes in reasonable detail the work to be performed, the party performing the work and each Lors allocable share of the Shared Costs (the "Payment Statemenf'). The Payment Statement may be sent prior to the commencement of any work; and payment in full may be required prior to the commencement of the work, provided that any funds received before any payments for the work are due and owing shall be deposited in a separate account, shall require withdrawal only upon the signature of the Owners of at least two Lots, and shall be used only for maintenance and repair of the Driveway and any costs directly related thereto. Any unused funds shall be refunded to the Lot Owners in the same proportion as the funds were paid no later than 90 days after completion of the work If the prepaid funds are not suffICient to pay for the work, each Lot Owner shall pay the Lot Owner's proportionate share of the deficiency not later than 15 days after receipt of notice of the amount of the deficiency ( the 'Deficit Notice"). Payment shall be due within 30 days after receipt ofthe Payment Statement or Deficit Notice and shall be in default if not paid in full within the required time. If payment is not made on or before the due date, a late charge in the amount of 10% ofthe amount due shall be charged to the delinquent Lot Owner. In addition, interest shall accrue on the unpaid balance at the rate of 10% per annum (but not to exceed the maximum rate permitted by law) until paid in full. For purposes herein, the "owner supervising the maintenance" shall be the Lot Owner(s) who sent the initial Repair Notice unless another Lot Owner assumes the maintenance responsibilities in writing. 4.4 Payment Default and Remedies. If a Lot OWner fails to pay the amount due on the Payment Statement or Deficit Notice within 30 days of the receipt thereof (the "Defaulting OWner"), any other Lot OWner may bring an action in any court of appropriate jurisdiction for breach of the personal obligation to pay a proportionate share of the maintenance costs and in such action shall be entitled to recover the amount due, the late charge, any interest accrued thereon as provided in 5ectIon 4.3, and all costs of such action, Including reasonable attorneys' fees. The dispute resolution procedure set forth in Article 5 shall not apply in any action to collect payment from the Defaulting OWner, and the Defaulting Owner may not raise the procedure as a defense in any such action. Any amount recovered from the Defaulting Owner shall be distributed among the other Lot Owners in the same proportion that each Lot Owner paid for the work, provided that any collection costs, including attorneys' fees, incurred by any Lot OWner shall be reimbursed to the appropriate party before any repair costs are distributed. The Lot Owners have no power or right to impose a lien against the Defaulting Owner's Lot, provided that this prohibition shall not apply to judgment liens based on a judgment issued by a court of appropriate jurisdiction. Article 5 - Dispute Resolution Procedures 5.1 Dispute Resolution ReQuirements. Except as provided otherwise in Sections 3.1 and 4.4, any disputes between or among the Lot Owners regarding the rights and duties hereunder shall be resolved in accordance with the provisions of Sections 5.2, 5.3 and 5.4 in that order. 5.2 Good Faith Neaotiations. The parties shall meet no later than ten calendar days following receipt of a written request to meet signed by any Lot Owner and delivered to the Lot Owners that may be parties to the dispute (the "Resolution Notice'). The Lot Owners shall negotiate in good faith in an effort to resolve the dispute. 5.3 Mediation. If the parties cannot resolve the claim pursuant to the procedures described in Section 5.2 within 20 calendar days following the date of the Resolution Notice or if any party to the dispute fails to meet as required In Section 5.2, on request of any party to the dispute, the matter shall be submitted to mediation using the mediation services provided by the American Arbitration Association or any successor thereto or any mediation provider acceptable to the parties. The mediation shall be held in San Mateo County unless the parties agree otherwise in writing. No person shall serve as a mediator in any dispute in which the person has any financial or personal interest in the result of the mediation, except by the written consent of all parties. Prior to accepting any appointment, the prospective mediator shall disclose any circumstances likely F:'LJW-DAT A\WPDocsWamtOakw\YamtOakw.goeV7.wpd 7 May 17, 2007