Conditions of Special Financial Consideration Sample Clauses

Conditions of Special Financial Consideration. In order for the Facility to make the appropriate determination as to whether to provide Resident a subsidy, Resident shall provide all necessary financial information including, but not limited to, an updated financial disclosure and Resident’s previous five years of tax returns. As a condition of receiving a subsidy, Resident must not have disposed of any asset, including cash or property, via gift or other transfer for less than fair market value, gambling or other actions that do not demonstrate prudent responsibility for the Resident’s financial obligations, in contemplation of the execution of this Agreement or subsequent to this Agreement which would further impair Resident's ability or the ability of Resident's estate to satisfy Resident's financial obligations under this Agreement. If Resident's sources of income are found to be inadequate to meet his/her responsibilities to the Facility and to pay personal and incidental expenses, Resident will make every effort to obtain assistance from family connections or other available sources and, if Resident can qualify, to take the necessary steps to obtain county, state, or Federal aid or assistance. If Resident's monthly charges are subsidized wholly or partly by the Facility, Resident shall, from time to time, at the request of Facility, supply the Facility with financial statements and copies of tax returns.