seasons kallangur€¦ · retirement villages act 1999 (section 75) form 4 v2 25 march 2019 page 1...

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Retirement Villages Act 1999 (Section 75) Form 4 V2 25 March 2019 Page 1 of 17 Retirement Villages Form 4 Seasons Kallangur Important information for the prospective resident The Retirement Villages Act 1999 requires a retirement village operator to provide a Prospective Costs Document to a person at least 21 days before the operator and the person enter into the contract. The Prospective Costs Document refers to a specific unit in the retirement village and gives details about: The costs of entering this retirement village The current ongoing costs of living in this retirement village The estimated costs you will pay if you leave this unit after 1, 2, 5 and 10 years of residence The estimated exit entitlement you will receive if you leave this unit after 1, 2, 5 and 10 years of residence. The operator may request information from you to assist with preparing a Prospective Costs Document for the specific accommodation unit you are interested in. The operator is required to give the Prospective Costs Document to you within 7 days of you supplying this information. It is important that you understand the information in this document and its implications for you as a resident. It is not a substitute for reading the full terms of your residence contract and seeking independent legal advice. By law, you must have a copy of your residence contract, Village Comparison Document, Prospective Costs Document for your contract, the village by-laws and any other required documents for at least 21 days before you and the operator enter into the residence contract. If there is a change, other than a minor change as defined in the Act, in any of the information in these documents, the operator must give you details of the change 21 days before you enter into the contract. This is to give you time to read these documents carefully and seek professional advice about your legal and financial interests. You have the right to waive the 21 day period if you get legal advice about the residence contract from a Queensland lawyer. If you sign a residence contract, you have a 14 day cooling-off period, after both parties have signed the contract, should you change your mind. If you withdraw from the residence contract during the cooling-off period, you are entitled to immediately receive a full refund of any ingoing contribution that you paid. Prospective Costs Document Retirement Villages Act 1999 (Section 75) ABN: 86 504 771 740 This form is effective from 1 February 2019

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Page 1: Seasons Kallangur€¦ · Retirement Villages Act 1999 (Section 75) Form 4 V2 25 March 2019 Page 1 of 17 Retirement Villages Form 4 Seasons Kallangur Important information for the

Retirement Villages Act 1999 (Section 75) Form 4 V2 25 March 2019 Page 1 of 17

Retirement Villages Form 4

Seasons Kallangur

Important information for the prospective resident

The Retirement Villages Act 1999 requires a retirement village operator to provide a Prospective Costs Document to a person at least 21 days before the operator and the person enter into the contract.

The Prospective Costs Document refers to a specific unit in the retirement village and gives details about:

The costs of entering this retirement village

The current ongoing costs of living in this retirement village

The estimated costs you will pay if you leave this unit after 1, 2, 5 and 10 years of residence

The estimated exit entitlement you will receive if you leave this unit after 1, 2, 5 and 10 years of residence.

The operator may request information from you to assist with preparing a Prospective Costs Document for the specific accommodation unit you are interested in. The operator is required to give the Prospective Costs Document to you within 7 days of you supplying this information.

It is important that you understand the information in this document and its implications for you as a resident. It is not a substitute for reading the full terms of your residence contract and seeking independent legal advice.

By law, you must have a copy of your residence contract, Village Comparison Document, Prospective Costs Document for your contract, the village by-laws and any other required documents for at least 21 days before you and the operator enter into the residence contract.

If there is a change, other than a minor change as defined in the Act, in any of the information in these documents, the operator must give you details of the change 21 days before you enter into the contract.

This is to give you time to read these documents carefully and seek professional advice about your legal and financial interests. You have the right to waive the 21 day period if you get legal advice about the residence contract from a Queensland lawyer.

If you sign a residence contract, you have a 14 day cooling-off period, after both parties have signed the contract, should you change your mind. If you withdraw from the residence contract during the cooling-off period, you are entitled to immediately receive a full refund of any ingoing contribution that you paid.

Prospective Costs Document Retirement Villages Act 1999 (Section 75) ABN: 86 504 771 740 This form is effective from 1 February 2019

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Notice for prospective residents

Before you decide whether to live in a retirement village, you should:

Seek independent legal advice about the retirement village contract – there are different types of contracts and they can be complex

Find out the financial commitments involved – in particular, you should understand and consider ingoing costs, ongoing fees and charges (which can increase) and how much it will cost you when you leave the village permanently

Consider any impacts to any pensions, rate subsidies and rebates you currently receive

Consider what questions to ask the village manager before signing a contract

Consider whether retirement village living provides the lifestyle that is right for you. Moving into a retirement village is very different to moving into a new house. It involves buying into a village with communal facilities where usually some of the costs of this lifestyle are deferred until you leave the village. These deferred costs when you leave your unit may be significant.

Seek further information and advice to help with making a decision that is right for you. Some useful contacts are listed at the end of this document, including:

o Queensland Retirement Village and Park Advice Service (QRVPAS) which provides free information and legal assistance for residents and prospective residents of retirement villages.

o The Queensland Law Society which can provide a list of lawyers who practice retirement village law. See www.qls.com.au or phone: 1300 367 757.

Part 1 – General information

1.1 Name of retirement village

Seasons Kallangur Supported Living Community

1.2 Address of retirement village

Street Address: 1321-1323 Anzac Avenue

Suburb: Kallangur State: QLD Post Code: 4503

1.3 Prospective resident/s

Preferred title: ☐ Mr ☐ Mrs ☐ Ms ☐ Miss Other (specify) …….......

First name ……………………. Last name …………….………………………

Address ………………………….…………………………………………………

……………………..……………………………………………….………………

Suburb ……………………………… State ……………… Post code………....

Phone …………………Email …………………….……………………………

Preferred title: ☐ Mr ☐ Mrs ☐ Ms ☐ Miss Other (specify) ……….

First name ……………………………. Last name ……………….…………….

Address …………………….…………………………………………………….

………………………….……………………………………………………...….

Suburb ……………………………… State ……………… Post Code ………

Phone ………………………Email …………………….…………………………

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1.4 Signature and confirmation of operator of retirement village

I, …………………………………………………… of Tenancy 3, Building 5, 205 Leitchs Road, Brendale Qld being a Representative of the operator of the retirement village certify the following information is correct as at:

………………………….

Signature: …………………………. Date signed: ………/………/………

1.5 Signature and confirmation of prospective resident

This Prospective Costs Document was given on ………/………/………

Signature of prospective resident …………………………………………….

Signature of prospective resident …………………………………………….

Note: All amounts in this Prospective Costs Document are GST inclusive, unless stated otherwise where that is permitted by law.

Part 2 – Your Accommodation Unit details

2.1 Number / Address of Accommodation Unit (the Unit)

Unit Number …………… Unit Type ……………

Street Address: 1321-1323 Anzac Avenue

Suburb: Kallangur State: QLD Post Code: 4503

2.2 The Unit is: Supported Living Apartment

☒ One bedroom

2.3 The tenure of the Unit is:

Lease (non-owner resident)

2.4 The car parking for the Unit is:

General car parking is available in the village

2.5 Unit layout and access and design features

Details of the layout of the Unit are shown in the community layout plan and unit layout plans attached to this Prospective Costs Document. The layout plan also shows the location, size, and other features for any separate carport, garage, storage or other areas for the Unit.

The Unit has the following access and design features:

☒ Level access from the street into and between all areas of the unit (i.e.

no external or internal steps or stairs) in all units

☒ Step-free (hobless) shower in all units

☒ Width of doorways allow for wheelchair access in all units

☒ Toilet is accessible in a wheelchair in all units

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☒ Other key features in the units or village that cater for people with

disability or assist residents to age in place:-

Day respite areas/programs where applicable, extensions to the emergency call systems i.e. sensor mats, door reed switches, wanderer’s system, availability of on-site care, grab rails in some units.

2.6 The following fixtures, fittings and furnishing will be provided in the Unit:

Two burner cook top

Rangehood

Electric oven (provided in some units only)

Microwave

Refrigerator

Washing Machine

Ceiling fan

Telephone

Air conditioning to either lounge OR bedroom (depending on Unit Type)

Emergency call system

Windows fitted with either curtains or blinds

Carpet or vinyl in bedrooms

Tiled flooring in bathroom

Tiled flooring or vinyl in kitchen

Vinyl or carpet flooring in dining and lounge Fenced courtyard

2.7 The land is subject to the following encumbrances, endorsements or other charges:

Real property description Lot 11 on SP 103788, Title Reference 50228744

Registered mortgage to ANZ Banking Group Ltd Dealing 712288622

Statutory Charge No. 711757068 under Part 6 of the Act

Company charge to ANZ Banking Group Ltd PPSR No. 201112200709955,

201112204522927, 201112204523472 and 201112230479478.

Part 3 – Ingoing contribution and other entry costs – to move into the Unit

3.1 To become a resident, you must pay these amounts:

☒ an Ingoing Contribution of $……………………………..

☒ Scheme Operator’s Legal and Administration Costs $990.00

3.2 The total amount payable on entry is:

$ ………………………….….

*The Ingoing Contribution may be paid in accordance with the Deferred Payment Agreement, should this variation be applicable and agreed upon by the Scheme Operator. Reference should be made to the Application for Residence and the Deferred Payment Agreement annexed therein. Residents are required to apply for a Variation Request to vary the terms of the Application for Residence in which the Deferred Payment Agreement will

come into effect.

Note: You may have additional costs in seeking your own legal or financial advice.

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Part 4 – Ongoing costs - to live in the Unit

To live in the Unit in the village, you must pay the following charges and costs:

4.1 General Services Charge (GSC) is:

currently $155.09 per unit, per week for the Financial Year 2018/2019.

(GSC charged to the resident is $132.39, per week after surplus and interest income is taken into account. Refer to the General Services Charge Budget for breakdown and details)

(For clarification, the GSC is included in the Weekly Payment)

4.2 Maintenance Reserve Fund (MRF) contribution is:

currently $15.81 per unit, per week, for the Financial Year 2018/2019.

(For clarification, the MRF is included in the Weekly Payment)

4.3 Personal services charge for selected services (if known) are:

Food Service Charge (FSC) currently $80.00 per person, per week.

(For clarification, the FSC is included in the Weekly Payment)

4.4 Other regular ongoing fees or charges

Weekly Payment $358.53 per week – for a Single Resident.

Weekly Payment $540.51 per week – for Couple Residents. The Weekly Payment is invoiced to residents on a fortnightly basis and includes the General Services Charge, Maintenance Reserve Fund and Food Service Charge. Surplus funds from the Weekly Payment are allocated towards care costs or accrued towards future care costs for the residents. Refer to clause 8 of the Lease Agreement and Part 4.5 of this document for further information.

4.5 Total regular ongoing costs are (Weekly Payment):

The Weekly Payment is currently $358.53 per week – for a Single Resident

The Weekly Payment is currently $540.51 per week – for Couple Residents

The Weekly Payment is invoiced on a fortnightly basis and is calculated and distributed in accordance with Clause 8 of the Lease Agreement.

The Weekly Payment amount is calculated to be 85% of the maximum base rate of the Single Age Pension or Couple Combined Pension as the case may be and as periodically revised and published by the Commonwealth Department of Human Services. For clarification, during the residents right to reside the Weekly Payment amount will change in accordance with the pension rates that are periodically revised and published by the Department.

For example, as at 25 March 2019:

The maximum base rate pension for a single person per week is $421.80 x 85% = $358.53 (being the Weekly Payment for one Resident);

The maximum base rate pension for couple combined per week is $635.90 x 85% = $540.51 (being the Weekly Payment for two Residents).

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The Weekly Payment includes all of the following compulsory payments required by the Resident:-

The Residents contribution to the General Services Charge as defined and described in the Village Comparison Document and Lease Agreement;

The Residents contribution to the Maintenance Reserve Fund as defined and described in the Village Comparison Document and Lease Agreement;

The Residents contribution to the Food Services Charge. The Food Services Charge includes: Midday Meal, Evening Meal and Breakfast as per the Personal Services Schedule annexed to the Village Comparison Document. For clarification, the Food Services Charge is a compulsory payment required by the resident/s, regardless whether the resident chooses to forego the service or individual meal. Any meals not consumed by the resident are not refunded or credited.

Any surplus funds remaining from the Weekly Payment after payment of the General Services Charge, Maintenance Reserve Fund and Food Services Charge will be allocated to pay for and contribute towards any Care Services (provided by Envigor Pty Ltd) as defined in the Personal Services Schedule that are payable by the resident and otherwise. Any surplus funds will accrue for the benefit of the resident to pay for any future care services.

For example, any surplus amount would be calculated as follows: (Weekly Payment) less (GSC, MRF, FSC) = Surplus

Where the GSC is $132.39 per week:

The surplus amount for a single person per week would be $358.53 - $132.39 - $15.81 - $80.00 = $130.33; and

The surplus amount for a couple per week would be $540.51 - $132.39 - $15.81 – (2 x $80.00) = $232.31

In the event the surplus funds are not sufficient to pay for the residents care services at any time, those unpaid care services will be deferred interest free (Deferred Care Costs) for the duration of the residents right to reside under the Lease and paid by the resident out of the Exit Entitlement at the Exit Entitlement Date. See clause 8 of the Lease Agreement.

It should be noted that future variations to the GSC, MRF and FSC and the maximum base rate pension entitlements may result in there being no surplus funds remaining. Accordingly, at the sole discretion of the Scheme Operator, should the GSC, MRF and FSC exceed the Weekly Payment, such excess may be deferred until the Exit Entitlement Date.

The resident must first use any Home Care Funds as defined in the Lease and the Care & Support Services Agreement (annexed to the Application for Residence) available to the resident before any of the costs for care services will be deferred.

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Where care is provided to the resident by an external Community Care Service Provider other than Envigor Pty Ltd, those care costs must be paid on demand by the resident pursuant to the costs invoiced to the resident or to the Scheme Operator by the third party Community Care Service Provider.

For clarification, all fees incurred by third party and external Community Care Service Providers are not able to be deferred and treated as Deferred Care Costs and the resident must pay those fees directly to the relevant provider. It is only the care services provided by Envigor Pty Ltd that is treated as Deferred Care Costs.

Any services defined in the Personal Services schedule are subject to change at any time. The Scheme Operator will provide residents with 7 days notice of any changes in accordance with the Lease Agreement.

In the event that surplus funds have accrued (resulting in a credit balance) and the lease is terminated in accordance with clause 16 of the Lease, those accrued funds will be refunded to the resident/the estate within 21 days from the Termination Date as defined in the Lease.

A Deferred Care Costs statement is provided to the resident on a monthly basis. The Deferred Care Costs statement shows the resident any accrual or deferral of care costs according to their fortnightly invoices.

4.5A Costs for the Unit not included in the General Services Charge, which the resident pays for separately:

☒ Contents insurance

☐ Council rates of $ ……………… per year

☐ Water rates

☒ Utilities – electricity

☒ Telephone (refer to Available Personal Services Schedule)

☒ Internet

☒ Pay TV

☒ Personal shopping expenses

4.6 Other occasional or ongoing costs for repair, maintenance and replacement of items in the Unit that the resident pays for include:

☒ Unit fixtures

☒ Unit fittings

☒ Unit appliances

☐ None

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4.7 Insurance policies taken out by the village operator include:

Type Amount Insurer Period

Industrial Special Risks

$40,000,000 combined Property and Interruption

Allianz Australia Insurance Ltd ABN 15 000 122 850

30/11/2018 to

30/11/2019

Management

Liability

$10,000,000 in the

aggregate

AIG Australia Limited ABN 67

007 483 267

30/11/2018 to

30/11/2019

Motor Vehicle Insurance (Seasons Vehicles)

Section 1 – own damage – market value or the sum insured Section 2 and 3 combined limit any one event $30,000,000 Section 2 and 3 are subject to carriage of hazardous goods limit $1,000,000

Allianz Australia Insurance Ltd ABN 15 000 122 850

30/11/2018 to

30/11/2019

Combined Liability

$10,000,000 Professional Indemnity in any one claim; $20,000,000 Public Liability – any one occurrence $20,000,000 Products Liability – in the aggregate; $100,000 property in care, custody and control; $5,000,000 Molestation/sexual abuse claim – in the aggregate

Ansvar Insurance Ltd ABN 21 007 216 506

30/11/2018 to

30/11/2019

Voluntary Workers

Insurance

$1,000,000 aggregate limit of liability

Chubb Insurance Australia Pty Ltd ABN 23 001 642 020

30/11/2018 to

30/11/2019

Workcover Full amount of employer’s liability under the Worker’s Compensation and

Rehabilitation Act 2003

Work Cover

Queensland

01/07/2018 to

30/09/2019

Note: Residents contribute to the costs of these insurances through the General Services Charge.

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Part 5– Exit fee, reinstatement of Unit and other exit costs - when you leave the Unit

On termination of your residence contract and leaving the Unit, the following exit fee and other exit costs will be payable to the operator. This exit fee is also referred to as a ‘deferred management fee’ (DMF).

5.1 Do you pay any exit fee when you leave the Unit?

☒ Yes ☐ No

5.2 Exit fee for the Unit is:

Time period from date of occupation of your Unit to the date you cease to reside in your Unit

Exit fee is calculated on a daily basis for the relevant Unit Type

that the resident resides in.

Exit fee payable

1 year

(1 full year)

Unit Type A, C and D

Unit Type B

$23,500.00

$24,500.00

2 years

(2 full years)

Unit Type A, C and D

Unit Type B

$47,000.00

$49,000.00

5 years

(5 full years)

Unit Type A, C and D

Unit Type B

$94,000.00

$98,000.00

10 years

(10 full years)

Unit Type A, C and D

Unit Type B

$94,000.00

$98,000.00

Note: if your period of occupation is not a whole number of years, your exit fee will be worked out on a daily basis.

Exit Fees are calculated on a daily basis for each Unit Type and capped at the maximum amount detailed below.

The daily exit fee is:-

$64.38 for Unit Type A, C and D $67.12 for Unit Type B

The maximum (or capped) exit fee is:-

$94,000.00 for Unit Type A, C and D $98,000.00 for Unit Type B

The minimum exit fee is:-

$64.38 for Unit Type A, C and D $67.12 for Unit Type B

Also refer to the estimated exit entitlement table in Part 6

5.3 Reinstatement costs for the Unit when you leave include:

☒ All costs of replacement and repairs reasonably necessary to return

your Unit to the condition it was in when you moved in, apart from fair wear and tear and any renovations or changes to the condition of the Unit carried out with the agreement of the operator and resident

☐ No requirement for reinstatement of the Unit

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5.4 Renovation costs for the Unit when you leave are:

☐ …………… % of any renovation costs payable by you, based on the

same proportion you are to share in any capital gain on the sale of your Unit under your residence contract

☒ No renovation costs

5.5 Sale costs for the Unit (incurred by the operator in selling the right to reside in the Unit) include:

☐ % of the agreed marketing and advertising costs, currently

approximately $ …………

☐ % of the legal costs, currently set at $…………

☐ % of valuer’s fee (if you and operator cannot agree on resale value)

☒ Nil Costs

Note: The sale costs must be based on the actual costs for the sale of your Unit and is allocated in the same proportion as you and the operator share the gross ingoing contribution on the sale of the right to reside under your residence contract. If you engage a real estate agent to sell the right to reside in the Unit you must pay the real estate agent’s costs and commission.

5.6 Ongoing charges after vacating your Unit and until the right to reside in the Unit is sold to the next resident are:

☒ General Services Charge at full rate for 90 days unless the right to

reside is sold earlier, currently $155.09 per week, less surplus and interest income, $132.39 per week charged to the residents. See General Services Charge Budget for breakdown and details. This document is annexed to the Application for Residence.

☒ From 90 days up to 9 months after leaving your Unit unless the right to

reside in your Unit is sold earlier, you and the operator pay the General Services Charge in the same proportion as you and the operator share the gross ingoing contribution on the sale of the Unit

☒ Any care or personal services, Home Care Package or Private Package

balances, any balance of the Weekly Payment up until the last day of occupancy or receipt of care or personal services

5.7 Other exit costs that you may need to pay include:

☐ Other costs

☒ None

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Part 6 – Exit entitlement

An exit entitlement is the amount the operator may be required to pay you under your residence contract after your right to reside is terminated and you leave the unit.

6.1 How is the exit entitlement which the operator will pay you worked out?

The Exit Entitlement is calculated as follows:-

The Ingoing Contribution paid by the Resident;

Less the Exit Fee (calculated in accordance with Part 5.2 of this document)

Less:

Deferred Care Costs calculated in accordance with the Lease Agreement (see clause 8);

Any outstanding personal services including Home Care Package or Private Package balances;

Any outstanding general services charges;

Any outstanding balance of the Weekly Payment or part thereof (see clause 8 of the Lease Agreement);

Any outstanding maintenance reserve fund contributions;

All costs for reinstatement due to accelerated wear and tear and all costs

for any deliberate damage cause to the accommodation unit by the resident;

Any costs associated with the removal and storage of your contents;

Any interest on overdue monies;

Any expenses the Scheme Operator is entitled to charge the resident under the Act, the Lease or other Agreement between the resident and the Scheme Operator;

Any other monies owing by the resident to the Scheme Operator under the Lease or the Act or other occupancy arrangement that commenced prior to the commence of the Lease.

Any monies owing by the resident in accordance with the Deferred

Payment Agreement, if applicable.

Where the Exit Fee and other amounts payable by the resident calculated in accordance with the Village Comparison Document, Prospective Costs Document and Lease Agreement or the Act exceed the Ingoing Contribution paid by the resident, the Scheme Operator agrees to waive any entitlement to that excess.

Refer to table over page for estimated exit entitlements.

6.2 Capital gain – Will you be entitled to share in any capital gain on your unit (if the next resident pays a higher in-going contribution / purchase price than you paid)?

☐ Yes ☒ No

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6.3 Capital loss – Will you be required to share in any capital loss on your unit (if the next resident pays a lower in-going contribution / purchase price than you paid)?

☐ Yes ☒ No

6.4 When is the exit entitlement payable?

☒ 6 months after your residence contract terminates and before 9 months,

unless your Unit is resold earlier. If this happens you will be paid your exit entitlement within 14 days after the settlement of the sale of the right to reside to the next resident or the operator. Please refer to clause 18.5 of the Lease Agreement in regards to the resale of the accommodation unit and when the exit entitlement is payable.

Note: By law, your exit entitlement must be paid to you by the operator no later than 18 months after the termination date of your residence contract, even if the right to reside in your unit has not been resold, unless the operator has been granted an extension for payment by the Queensland Civil and A dministrative Tribunal (QCAT). An operator is entitled to see the probate or letters of administration before paying the exit entitlement of a former resident who has died.

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Part 6 – Estimated resident exit entitlements when resident exits after 1, 2, 5 and 10 years of residence

The following estimate is based on a single resident in Unit Type A. The estimated refund does not include amounts for outstanding Weekly Payment, General Services Charge, Maintenance Reserve Fund contribution or personal services charges, if applicable. These amounts may further reduce your estimated exit entitlement payment. Base Amount is the Ingoing contribution $179,000.00

Exit after 1 year residence (1 full year)

Exit after 2 years Residence (2 full years)

Exit after 5 years Residence (5 full years)

Exit after 10 years Residence (10 full years)

Ingoing Contribution paid by you, the resident (based on Unit Type A)

$179,000.00 $179,000.00 $179,000.00 $179,000.00

If applicable, [plus or minus] your share of estimated capital [gain or loss] based on the difference between your ingoing contribution and the estimated resale price

N/A N/A N/A N/A

Minus estimated exit fee (based on Unit Type A) $23,500.00 $47,000.00 $94,000.00 $94,000.00

Minus estimated sales and legal costs N/A N/A N/A N/A

Minus estimated Deferred Care Costs - based on a single resident receiving a Level 2 Package provided by Envigor Pty Ltd and receives no government subsidy or funding for the entire duration of this example and does not including Admin Fees.

$17,004.00 $34,008.00 $85,020.00 $170,040.00

Total estimated exit entitlement payable to resident (excluding estimated reinstatement and renovation costs) (no later than 18 months after termination of lease agreement - refer to Item 6.4 for details)

$138,496.00 $97,992.00 $0.00 $0.00

Minus estimated reinstatement costs (refer Item 5.3) $2,000.00 $2,000.00 $2,000.00 $2,000.00

Minus estimated renovation costs (if applies – refer Item 5.4) N/A N/A N/A N/A

Total estimated exit entitlement payable to resident (no later than 18 months after termination of residence contract - refer to Item 6.4 for details)

$136,496.00 $95,992.00 $0.00 $0.00

*The resident and the Scheme Operator agree that the estimated resale price or agreed value is equal to the ingoing contribution paid by you, the resident to secure your right to reside. There is no share in capital gain or capital loss. See clause 18.1 of the Lease Agreement. The Actual reinstatement costs will be subject to entry and exit condition reports at the time of termination. Where the Exit Fee and other amounts payable by the resident calculated in accordance with the Village Comparison Document, Prospective Costs Document and Lease Agreement or the Act exceed the Ingoing Contribution paid by the resident, the Scheme Operator agrees to waive any entitlement to that excess.

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Part 6 – Estimated resident exit entitlements when resident exits after 1, 2, 5 and 10 years of residence

The following estimate is based on a couple resident in Unit Type B. The estimated refund does not include amounts for outstanding Weekly Payment, General Services Charge, Maintenance Reserve Fund contribution or personal services charges, if applicable. These amounts may further reduce your estimated exit entitlement payment. Base Amount is the Ingoing contribution $268,000.00

Exit after 1 year residence

Exit after 2 years residence

Exit after 5 years residence

Exit after 10 years residence

Ingoing Contribution paid by you, the resident (based on Unit Type B)

$268,000.00 $268,000.00 $268,000.00 $268,000.00

If applicable, [plus or minus] your share of estimated capital [gain or loss] based on the difference between your ingoing contribution and the estimated resale price

N/A N/A N/A N/A

Minus estimated exit fee (based on Unit Type B) $24,500.00 $49,000.00 $98,000.00 $98,000.00

Minus estimated sales and legal costs N/A N/A N/A N/A

Minus estimated Deferred Care Costs based on both residents receiving a Level 2 Package provided by Envigor Pty Ltd and receives no government subsidy or funding for the entire duration of this example and does not including Admin Fees.

$34,008.00 $68,016.00 $170,044.00 $340,088.00

Total estimated exit entitlement payable to resident (excluding estimated reinstatement and renovation costs) (no later than 18 months after termination of lease agreement - refer to Item 6.4 for details)

$209,492.00 $150,984.00 $0.00 $0.00

Minus estimated reinstatement costs (refer Item 5.3) $2,000.00 $2,000.00 $2,000.00 $2,000.00

Minus estimated renovation costs (if applies – refer Item 5.4) N/A N/A N/A N/A

Total estimated exit entitlement payable to resident (no later than 18 months after termination of residence contract - refer to Item 6.4 for details)

$207,492.00 $148,984.00 $0.00 $0.00

*The resident and the Scheme Operator agree that the estimated resale price or agreed value is equal to the ingoing contribution paid by you, the resident to secure your right to reside. There is no share in capital gain or capital loss. See clause 18.1 of the Lease Agreement. The Actual reinstatement costs will be subject to entry and exit condition reports at the time of termination. Where the Exit Fee and other amounts payable by the resident calculated in accordance with the Village Comparison Document, Prospective Costs Document and Lease Agreement or the Act exceed the Ingoing Contribution paid by the resident, the Scheme Operator agrees to waive any entitlement to that excess.

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Retirement Villages Act 1999 (Section 75) Form 4 V2 25 March 2019 Page 15 of 17

Access to documents

The following operational documents are held by the retirement village scheme operator and a prospective resident or resident may make a written request to the operator to inspect or take a copy of these documents free of charge. The operator must comply with the request by the date stated by the prospective resident or resident (which must be at least seven days after the request is given).

☒ Certificate of registration for the retirement village scheme

☒ Certificate of title or current title search for the retirement village land

☒ Village site plan

☒ Plans showing the location, floor plan or dimensions of accommodation units in the village

☐ Plans of any units or facilities under construction

☐ Development or planning approvals for any further development of the village

☒ The annual financial statements and report presented to the previous annual meeting of

the retirement village

☒ Statements of the balance of any capital replacement fund or maintenance reserve fund

or income and expenditure for general services at the end of the previous three financial years of the retirement village

☐ Statements of the balance of any Body Corporate administrative fund or sinking fund at

the end of the previous three years of the retirement village

☒ Examples of contracts that residents may have to enter into

☒ Village dispute resolution process

☒ Village by-laws

☒ Village insurance policies and certificates of currency

☒ A current public information document (PID) continued in effect under section 237I of the

Act (this applies to existing residence contracts)

An example request form containing all the necessary information you must include in your request is attached and is also available on Department of Housing and Public Works website.

Further Information

If you would like more information, contact the Department of Housing and Public Works on 13 QGOV (13 74 68) or visit our website at www.hpw.qld.gov.au

General Information

General information and fact sheets on retirement villages: www.qld.gov.au/retirementvillages

For more information on retirement villages and other seniors living options: www.qld.gov.au/retirementvillages

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Retirement Villages Act 1999 (Section 75) Form 4 V2 25 March 2019 Page 16 of 17

Regulatory Services, Department of Housing and Public Works

Regulatory Services administers the Retirement Villages Act 1999. This includes investigating complaints and alleged breaches of the Act.

Department of Housing and Public Works

GPO Box 690, Brisbane, QLD 4001

Phone: 07 3008 3450

Email: [email protected]

Website: www.hpw.qld.gov.au/housing

Queensland Retirement Village and Park Advice Service (QRVPAS)

Specialist service providing free information and legal assistance for residents and prospective residents of retirement villages and manufactured home parks in Queensland.

Caxton Legal Centre Inc.

1 Manning Street, South Brisbane, QLD 4101

Phone: 07 3214 6333

Email: [email protected]

Website: www.caxton.org.au

Seniors Legal and Support Service

These centres provide free legal and support services for seniors concerned about elder abuse, mistreatment or financial exploitation.

Caxton Legal Centre Inc.

1 Manning Street, South Brisbane, QLD 4101

Phone: 07 3214 6333

Email: [email protected]

Website: www.caxton.org.au/sails_slass

Queensland Law Society

Find a solicitor

Law Society House

179 Ann Street, Brisbane, QLD 4000

Phone: 1300 367 757

Email: [email protected]

Website: www.qls.com.au

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Queensland Civil and Administrative Tribunal (QCAT)

This independent decision-making body helps resolve disputes and reviews administrative decisions.

GPO Box 1639, Brisbane, QLD 4001

Phone: 1300 753 228

Email: [email protected]

Website: www.qcat.qld.gov.au

Department of Justice and Attorney-General

Dispute Resolution Centres provide a free, confidential and impartial mediation service to the community.

Phone: 07 3006 2518

Toll free: 1800 017 288

Website: www.justice.qld.gov.au

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A

B

TYPE

TYPE

Kallangur

C

D

TYPE

TYPE

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Kallangur- Apartment style A

This floorplan is not to scaleand is intended as a guide only.

Total area = 32.495m2

ATYPE

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Kallangur- Apartment style B

This floorplan is not to scaleand is intended as a guide only.

Total area = 42.835m2

BTYPE

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Kallangur- Apartment style C&D

This floorplan is not to scaleand is intended as a guide only.

Total area = 43.691m2C

D

TYPE

TYPE