Golden Pond Lifecare

Called the "Lifecare Fee" in the Disclosure Statement (s.7.2(a)): 6% of the Purchase Price paid by the new resident, PLUS 2% of that Purchase Price for the first and every subsequent 6-month period (or part-period) of occupation, up to a maximum total of 20% of the Purchase Price. The Schedule's worked examples: 1 year = 10%, 2 years = 14%, 5 years = 20% (cap reached), 10 years = 20%.

Accrues in 2% increments per completed or part 6-month period of occupation on top of a flat 6% base; stops accruing at the Exit Payment Date; capped at 20% of Purchase Price, which is reached after 7 half-year periods (about 3.5 years).

NOT fixed - the "Village Weekly Charge" varies by unit type and changes over time (operator may change it with at least 1 month's notice, tied to Body Corporate levy changes). As at the 16 Oct 2023 Disclosure Statement: Single-bed Home Unit $150/wk (rising to $158/wk from 1 Nov 2023); Two-bed Home Unit $210/wk (→$220/wk); Single Studio $72/wk (→$93/wk); Double Studio $91/wk (→$118/wk).

The resident (or their estate) keeps any capital gain, and equally bears any capital loss. Disclosure Statement s.12.3: "On termination and settlement... a Resident receives an Exit Payment... less the Lifecare Fee and the costs... This may result in the Resident receiving a capital gain. Equally, the Resident may therefore bear any capital loss."

"Exit Payment Date" (s.7.3): 20 working days after the date the Operator agrees to buy the unit title itself; OR, if the unit is sold to a third party, the date the Resident receives full settlement of the new resident's purchase price - i.e. the refund is not paid until the unit is resold, unless the Operator elects to buy it directly.