There is no way to answer this question without reading your covenants and Bylaws. Any smartly written bylaws would include a non-waiver provision. I know of no law which automatically causes an HOA to waive its rights if it does not act within a year. As to the fines -- again, a careful reading of your bylaws and covenants is necessary.
DISCLAIMER: Brandy A. Peeples is licensed to practice law in the State of Maryland. This answer is being provided for informational purposes only and the laws of your jurisdiction may differ. This answer based on general legal principles and is not intended for the purpose of providing specific legal advice or opinions. Under no circumstances does this answer constitute the establishment of an attorney-client relationship. For legal advice relating to your specific situation, I strongly urge you to consult with an attorney in your area. NO COMMUNICATIONS WITH ME ARE TO BE CONSTRUED AS ARISING FROM AN ATTORNEY-CLIENT RELATIONSHIP AND NO ATTORNEY-CLIENT RELATIONSHIP WILL BE ESTABLISHED WITH ME UNLESS I HAVE EXPRESSLY AGREED TO UNDERTAKE YOUR REPRESENTATION, WHICH INCLUDES THE EXECUTION OF A WRITTEN AGREEMENT OF RETAINER.
HOAs do not waive rights by not enforcing rules, you can be sure of that. And, even if you were to argue it on the basis of a laches or statute of limitations-type theory, one year is not going to do it.
I may be guessing or not licensed in your state. No atty/client relationship exists.