Common use of Other Cancellation by Resident Prior to Occupancy Clause in Contracts

Other Cancellation by Resident Prior to Occupancy. If this Residency Agreement is not terminated pursuant to Subsections A1 and A2 above, you may cancel this Residency Agreement at any time prior to taking occupancy upon written notice to the Executive Director of Ashlar Village or his/her designee sent by registered or certified mail. In the event of such a termination, Ashlar Village will refund the appropriate portion of the Entry Fee paid, minus (i) the Application Fee, (ii) an administrative charge, which is subject to change from time to time in the sole discretion of Ashlar Village, and (iii) the applicable Monthly Fee, prorated on a per diem basis for the period beginning on the later of seven (7) days after the execution of this Residency Agreement or the date on which your residence was ready for occupancy and ending on the last day of the month in which Ashlar Village receives notice that you will not occupy the residence.