Selection of Entrance Fee Refund Plan Sample Clauses

Selection of Entrance Fee Refund Plan. Resident may select one of the following Entrance Fee plans. Resident’s initials next to the description of a particular plan shall indicate the plan selected: [____ / ____] A. Capital Preservation Plan. Under this plan, there will be no refund to Resident or Resident’s estate following the termination of this Agreement, if the termination occurs after 50 months after Occupancy. If, however, this Agreement is terminated prior to the end of such 50-month period, Resident may be entitled to a refund. See Article 7 for the detailed provisions concerning refunds. [____ / ____] B. Traditional Plan. Under this plan, Resident or Resident’s estate will be entitled to a refund of thirty-three percent (33%) of the Entrance Fee. In the event this Agreement is terminated within thirty-three (33) months after Occupancy of the Villa, Resident may be entitled to an additional refund. See Article 7 for the detailed provisions concerning refunds. [____ / ____] C. Estate Preservation Plan. Under this plan, Resident or Resident’s estate will be entitled to a refund of ninety percent (90%) of the Entrance Fee. In the event this Agreement is terminated within five (5) months after Occupancy of the Villa, Resident may be entitled to an additional refund. See Article 7 for detailed provisions concerning refunds. This plan option is available if Resident has not yet reached age 80 at the time of the signing of this Agreement.
Sample 1
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Related to Selection of Entrance Fee Refund Plan

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