Adjustments to the Monthly Service Package. The Monthly Service Package may be revised from time to time. We generally adjust fees on an annual basis after having evaluated those factors that we perceive to be relevant to the costs associated with operating the Community and other financial requirements. Normally such changes will be made to become effective on January 1 of the next calendar year with notice of THIRTY (30) DAYS to residents in Independent Living, notice of FORTY-FIVE (45) DAYS to residents in Assisted Care, and notice of SIXTY (60) DAYS to residents in Nursing Care. However, in unusual circumstances, we reserve the right, at any time, upon notice of THIRTY (30) DAYS to residents in Independent Living, notice of FORTY-FIVE (45) DAYS to residents in Assisted Care, and notice of SIXTY
Adjustments to the Monthly Service Package. The Monthly Service Package may be revised from time to time. We normally use the Monthly Service Package to cover the expenses of providing covered services to Residents but we may use the Monthly Service Package for any other purpose. We generally adjust fees on an annual basis after having evaluated those factors that we perceive to be relevant to the costs associated with operating the Community and other financial requirements. Normally such changes will be made to become effective on January 1 of the next calendar year with notice of THIRTY (30) DAYS to residents in Independent Living, notice of FORTY-FIVE (45) DAYS to residents in Assisted Care and Memory Care, and notice of SIXTY (60) DAYS to residents in Nursing Care. However, in unusual circumstances, we reserve the right, at any time, upon notice of THIRTY (30) DAYS to residents in Independent Living, notice of FORTY-FIVE (45) DAYS to residents in Assisted Care and Memory Care, and notice of SIXTY (60) DAYS to residents in Nursing Care, to adjust the Monthly Service Packages to reflect any additional cost or liability for which there is no adequate, budgeted reserve, including, but not limited to, tax liability for real estate taxes relating to the Community, increased operating expenses and inflation. Notice to residents in Assisted Care or Nursing Care may be less than FORTY-FIVE (45) DAYS OR SIXTY (60) DAYS, respectively, only if the adjustment is due to a change in level of care. If we agree that you may participate in the Flexible Payment Program, then your Monthly Service Package will be increased effective upon the execution of the Flexible Payment Program Addendum, a copy of which is included in Schedule II.
