I (we) hereby authorize Community name listed above in "Community Name" field hereinafter called COMPANY, to initiate debit entries, for the purpose of authorized assessments by the Association, to my( our) checking/savings account indicated by the account information entered below, hereinafter called DEPOSITORY, to debit the same to such account.
This authorization is to remain in full force and effect until COMPANY has received written notification from me (or either of us) of its termination in such time and in such manner as to afford COMPANY and DEPOSITORY a reasonable opportunity to act on it. NOTE: IF FOR ANY REASON THIS DRAFT DOES NOT CLEAR YOUR BANK ACCOUNT THERE IS BE A $25 CHARGE TO YOUR HOA ACCOUNT. THIS CHARGE WILL APPLY EACH TIME YOUR PAYMENT DOES NOT CLEAR. WE WILL CONTINUE TO ATTEMPT TO DRAFT YOUR ACCOUNT UNTIL SUCH
TIME AS THE ACCOUNT BECOMES DELINQUENT TO THE POINT THAT WE ARE REQUIRED TO SEND IT TO THE COLLECTION ATTORNEY. SUFFICIENT NOTICE WILL BE SENT PRIOR TO ANY ATTORNEY ACTION..