Assessments are $496 per year on each lot. It is payable annually and is due no later than January 31th of each year. Any assessment not paid within fifteen days after the due date shall incur a late fee assessment of 10 percent of the total amount due. The Association may bring an action at law against the owner(s) personally obligated to pay the same, and/or place a lien against the property, for unpaid assessments. (Payments should be sent to 6035 Paradise Cove Drive, Mooresburg, TN 37811.)