1. In terms of Clause of 5.2.7 of the Memorandum of Incorporation of the Estate, the Management are entitled to raise levies from Members and also from each individual owner of a Sectional Title Unit within the Property so as to defray the expenses incurred by the HOA and/or the amounts the Management has made provision for in terms of the expenditure towards the fulfilment of the business of the HOA in terms of the MOI.
2. A monthly charge will be levied on Members to contribute to the costs of operating and managing the affairs and common property of the HOA. This charge is calculated from the estimate of income and expenses (Budget) of the HOA. The Management can decide and adjust these charges from time to time as the requirements change.

Due Date
3. Levies are payable monthly and are due and payable in advance on the first working day of each and every month and shall be considered as unpaid when the levy has not been paid on the second working day of that month, unless otherwise resolved by the Management which resolution shall be communicated timeously in writing to all Members.

Interest on Unpaid Accounts
4. The Management may charge interest on any overdue amount payable by a Member to the Estate; provided that the interest rate must not exceed the maximum rate of interest payable per annum under the National Credit Act (2005) Act No 34 of 2005 compounded monthly in arrears.

Levy Collection Procedure
5. Levy statements will be sent to Members towards the end of every month.
6. If no payment is received by the 5th working day of the month, a Demand for payment will be addressed to the Member. The cost of this Demand will be for the Member’s account.
7. If no payment is received within the period as stipulated in the Demand Letter referred to in Rule 6, a Final Demand will be addressed informing the Member to pay the outstanding amount within a stipulated period. The cost for the Final Demand will be for the Member’s account.
8. Should no payment be received by the stipulated date as referred to in Rule 7 above, access will be switched off and the Member and all other authorised entrants of the Property relating to the outstanding account will have to use the visitor procedure to enter the Premises. The access will be activated when the outstanding amount is received.
9. In terms of various legislation applicable in the Republic of South Africa, Management may not discount or waive any arrears levy and/or applicable costs.
10. Should no payment be received by the stipulated date as referred to in Rule 7 above, the Management shall take further legal action with costs for the Member’s Account. Such action will depend on the legal recourse that is available (which can include an application to CSOS) in terms of applicable laws at that time. This may include a reference on the Member’s credit profile at relevant Credit Bureaus.)