Any toll or charge for water shall become delinquent if the same is not paid within fifteen (15) days after the due date thereof, as fixed by rules and regulations or by resolution duly adopted by the Board of Directors; no shareholder shall be entitled to receive any water, and the corporation shall discontinue furnishing water to any shareholder, while that shareholder is delinquent in the payment of any such toll or charge, or in the payment of any assessment regularly levied. The corporation shall not be bound to subsequently furnish water to any shareholder or their successors, or to any lessee of said land, or to any person thereon, until the water tolls, charges or assessments in default, and the expense of disconnection and reconnection as established by the Board of Directors, have been paid by or for such shareholder.
Every shareholder shall be personally liable for the amount of any toll or charge for water furnished to the parcel of land to which their shares are appurtenant, and also for the amount of any assessment levied upon their shares. In addition, the corporation shall have, and is hereby given, a lien upon the land of each shareholder to which such shareholder’s shares of the capital stock of this corporation are appurtenant, by way of security for any moneys due or to become due from such shareholder to the corporation for water delivered, or to be delivered, by it to that shareholder or to said land, and for any assessment or charge of any kind whatsoever that may be hereafter levied by the corporation or charged against said shareholder, which lien shall continue until the amount thereof shall be paid or said land is sold to satisfy said lien.
Any shares of stock upon which water tolls, charges and/or assessments become delinquent shall be forfeited to the corporation, and the holder of said stock shall surrender the certificate of shares to the corporation. A civil action for collection may be undertaken against any holder of delinquent shares. Shares which have been forfeited for failure to pay water tolls, charges and/or assessments may be recovered by the original owner, by the payment of the tolls, charges and/or assessments, together with any penalty established by the Board of Directors, and with all subsequent tolls, charges, assessments and penalties, and interest on such sums, from the time they became delinquent; provided the person or persons making application for recovery of such shares must tender to the corporation the amount required as aforesaid, within six (6) months from the date of such forfeiture.
Every holder of ”Class A” shares shall be liable for payment of, and shall pay to the corporation, on demand, all expenses incurred by the corporation in enforcing payment of any toll, charge or assessment, or in the enforcement of any lien upon shares or real property, or in any forfeiture of shares, including, in any case where legal action is resorted to, a reasonable attorney's fee, and the amount of such expense shall be a lien upon that holder’s shares, in like manner as the principal debt.