Common use of Option 2 Clause in Contracts

Option 2. If income has not been verified by the move in date use this option. A. Where the RESIDENTS social security or other funding is not active at the time of commencement to the program, the program must prepare the Agreement based upon the estimated benefit to be received by the resident. B. If, when funding is later activated, actual income of the resident varies from the estimated income noted on the Agreement, the Agreement must be updated and re-signed by all the applicable parties. C. After funding activation, the RESIDENT may be responsible for back payment of room and board fees accrued prior to funding activation. D. Anticipated date of final income verification: _____________________