Section 1. Accounts, Fines, Penalties and their Interests

1.1. Annual Membership Dues and Miscellaneous Fees. Annual membership dues and miscellaneous fees are demandable on January 1st of each year and payable not later than February 28th of the same year. Membership dues are assessed per square meter.

1.2. Garbage fees for houses are payable in advance for one year. A separate fee per year will be charged building constructions, which will be applicable for the duration of the project.

1.3. Penalty Interests. A monthly penalty interest equivalent to prevailing bank interest rates shall be applied to all overdue accounts commencing 30 days after date of first billing plus necessary liquidated damages upon failure to settle account/s within 60 days from due date/s.

1.4. Guidance of Payment of Dues. Payment of annual dues by tenants will apply to cover the period of their lease contract. Unpaid accounts by the previous tenant will be the responsibility of the landlord.

1.5 Refund of Dues. Request for refunds of Association dues paid in advance by lessees or tenants will not be refunded, as the dues constitute a lien and obligation of the land, and are payable on an annual basis. Requests for refunds when made by tenants must be therefore be referred to the owner of the property who will make the refund, being a party to the contract of lease. When the tenants pay dues, the receipt should be in the name of the landowner, c/o tenant and the tenant should be informed when payment is made that it is not refundable.