Common use of Current Residents Clause in Contracts

Current Residents. 1) The resident or their representative will meet with the appropriate Resident Finance staff to discuss a payment plan and will sign a promissory note. 2) Generally, a minimum of $30 per month will be the required monthly payment if the resident has a $140 personal spending allowance. 3) The minimum payment amount for those residents without a $140 personal spending allowance will be determined by the Resident Finance Supervisor or Finance Bureau Chief. 4) Failure to meet the obligations of the promissory note may result in a notice of administrative discharge being issued to the resident.