February 10, 2009

Dear Members:

Last week, the monthly assessment coupon books were sent to all Bear Lake Reserve owners. Since then, we have received many phone calls regarding the statements and courtesy notices that you received. I would like to take this opportunity to explain the billing process.

All assessments are due on the first (1st) of the month. Your payment must have been received and posted by the bank before 12:01 am on the 16th, allowing a fifteen (15) day grace period, before late fees are applied. The Bear Lake Reserve Collection Policy allows for a $25.00 per month, per property late fee plus an 18% per annum late interest fee on the past due balance. New statements and courtesy letters reflecting any late fees or adjustments are generated on the 16th.

We hope this has cleared up some of the confusion that many of you have called about in the past week.

Thank you:


Michael Moore CMCA
Bear Lake Reserve
Community Association Manager