INITIATION FEES

Statement of Policy

It shall be the policy of this Homeowners Association that resident nonmembers who elect to join the Association shall be charged an initiation fee to offset partially the expenses that the Association incurred prior to their joining.

Implementation

3/6/86
initiation fees will be assessed to a nonmember who is a resident of Fairway Springs for more than 30 days at a rate equivalent to four (4) months current dues.

Nonmember residents who join the Association within 30 days of the closing date of the acquisition of their home will not be charged an initiation fee. Delay beyond that date will result in the full initiation fee being assessed.

11/19/98
Policy was established at a Board meeting, this date, for nonmembers wishing to join the Fairway Springs Homeowners Association as follows:

Any nonmember who desires to join the Fairway Springs Homeowners Association will not be charged a joinder fee and will not be charged dues for the first six months of his/her membership. A joinder shall be signed by the nonmember, witnessed, notarized, and the Corporate Seal affixed, before being recorded with the county.

This policy expires June, 2003.

01/19/10
The following incentives were established by FSHOA Board, for nonmembers wishing to join the Fairway Springs Homeowners Association as follows:

1. Any nonmember who desires to join the Fairway Springs Homeowners Association will not be charged association dues for the first 5 years (60 months) of his/her membership. *

A joinder shall be signed by the nonmember, witnessed, notarized, and the Corporate Seal affixed, before being recorded with the county. A copy of the joinder shall be provided to the FSHOA Board of Directors for recording with the Treasurer and Welcoming Director, and filed in the permanent lot file

2. The new member will be given complete member privileges, and reinbursement of all recording fees, immediately upon providing proof of filing of joinder with the county.

*NOTE: The waiver of dues is NOT transferable to future home owners on these properties.