Each lot in GlenEagles is encumbered with an annual rent charge that should appear on your Statement of Title. The encumbrance is a charge payable to the GlenEagles Community Association (GECA) for maintaining and improving various landscaping areas, features, and recreational amenities.
By signing the paperwork for purchasing a house in GlenEagles, the owner is agreeing to pay the annual fee (currently $125/year). Default shall bear interest at 3% in excess of prime rate of interest charged by the Alberta Treasury Branch. Interest is calculated half yearly and compounded monthly.
The Association has the right of distress with all powers and remedies of an encumbrance under the Land Titles Act of Alberta (e.g., lien on property).