Adjusting the Member Deposit Clause Samples

Adjusting the Member Deposit. When there is a change in the monthly Housing Charge, the Co-op automatically adjusts the amount of the Member Deposit. If the Member Deposit increases, Members must pay the extra amount on the effective date of the increase; if it decreases (e.g., when Members move from Market Rent to Subsidy), Members will receive a credit to their Housing Charge Account for the difference on future charges.