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collection costs. Assessed businesses which are delinquent in paying the assessment shall be <br /> responsible for paying: <br /> 1. Any business which fails to pay any assessment within the time required shall pay a penalty <br /> of ten percent (10%) of the amount of the assessment in addition to the amount of the <br /> assessment. <br /> 2. Any business which fails to remit any delinquent assessment on or before a period of 30 <br /> days following the date on which the assessment first became delinquent shall pay a second <br /> delinquency penalty of ten percent (10%) of the amount of the assessment in addition to the <br /> amount of the assessment and the ten percent (10%) penalty first imposed. <br /> 3. If it is determined that the nonpayment of any assessment is due to fraud,a penalty of <br /> twenty-five percent (25%) of the amount of the assessment shall be added thereto in <br /> addition to the penalties stated above. <br /> 4. In addition to the penalties imposed,any business which fails to remit any assessment shall <br /> pay interest at the rate of one-half of one percent (0.5%) per month or fraction thereof on <br /> the amount of the assessment,exclusive of penalties, from the date on which the assessment <br /> first became delinquent until paid. <br /> 5. Every penalty imposed and such interest as accrues shall become a part of the assessment <br /> required to be paid. <br /> F. Time and Manner for Collecting Assessments <br /> The TVTMD assessment will be implemented beginning beginning July 1,2022,or as soon as possible <br /> thereafter,and end ten(10) years from its start date. Each City,Town and County will be responsible <br /> for collecting the assessment on a quarterly basis (including any delinquencies,penalties and interest) <br /> from each lodging business located in the boundaries of the TVTMD. Each City Town and County <br /> shall take all reasonable efforts to collect the assessments from each lodging business. On a quarterly <br /> basis, each City,Town and County shall forward the assessment collected to the City of Pleasanton. <br /> The City of Pleasanton shall forward the assessments collected to the Owners'Association. <br /> TVTMD Management District Plan tizi/ <br /> VISIT 14 <br /> February 3,2022 <br /> •,1 <br /> California <br />