May 1, 2017 1 

 

NEW POND VILLAGE DISCLOSURE STATEMENT

Owned and Operated By NPV Operator LLC

180 Main Street

Walpole, MA 02081 Telephone: (508) 660-1555 Facsimile: (508) 668-8893

May 2017

Subject to Change Without Notice

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NEW POND VILLAGE  

DISCLOSURE STATEMENT TABLE OF CONTENTS

Section Page INTRODUCTION ..................................................................................................... 3

SERVICES AND FEES ............................................................................................. 4

TEMPORARY HEALTH-RELATED TRANSFERS .............................................. 5

APPLICATION AND RESERVATION AGREEMENT ......................................... 6

RESIDENCY AGREEMENT, ENTRANCE FEE AND DEFERRED FEE ............ 7

PROVIDER INFORMATION ................................................................................... 7

FINANCIAL INFORMATION ................................................................................. 8

FURTHER INFORMATION .................................................................................... 8 

ADDITIONAL DOCUMENTS

Appendix A ……………………………Reservation Agreement Appendix B…………………………….Residency Agreement Appendix C…………………………….Fee Schedule Appendix D ……………………………Financial Information Appendix E ……………………………Table of Rate Changes

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NPV OPERATOR LLC d/b/a

NEW POND VILLAGE DISCLOSURE STATEMENT

INTRODUCTION

NPV Operator LLC d/b/a New Pond Village, a Delaware limited liability company (“NPV”), is providing you with this Disclosure Statement in accordance with Chapter 93, Section 76 of the General Laws of the Commonwealth of Massachusetts. This Disclosure Statement includes a summary of certain documents governing the contractual relationship between you and NPV if you choose to live in New Pond Village.

NPV advises you to review the documents in detail and have them reviewed by your personal legal and financial advisors. While NPV is not aware of any inconsistencies between this Disclosure Statement and the attached documents, if there is any conflict, the provisions of the attached documents will govern.

This Disclosure Statement describes the current services that NPV is offering its Residents. The services may change over time. Consequently, this Disclosure Statement should not be deemed a guaranty that all of the services described below will continue to be offered throughout your residence at New Pond Village.

Crosbey House, a three-story wood frame structure, is for residents who are

capable of living on their own (without special assistance). Crosbey House consists of 167 apartment homes in a variety of floor plans having one and two bedrooms. Each apartment home in Crosbey House is furnished with carpeting, sheer curtains, garbage disposal, self-defrosting refrigerator and freezer, range, continuous cleaning oven, and dishwasher, and each has a designated dry storage area.

Aldridge House is located on the first two floors of the same wood frame building in which Crosbey House is located and is intended for residents who require some assistance with activities of daily living. Aldridge House contains 32 apartment homes for those who may need sustained personal care but not full-time nursing care. The Aldridge House apartment homes are physically similar to the Crosbey House apartment homes, but they do not have kitchen ranges, ovens, dishwashers, garbage disposals or patios.

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All apartment homes in Crosbey House and Aldridge House are equipped

with smoke detectors and sprinklers. In addition, each apartment has an emergency alert system in the bathroom areas. Reception or security personnel monitor all calls and coordinate emergency responses as appropriate. See the Section, captioned “Temporary Health-Related Transfers,” for a description of the situations in which Residents may transfer between the various components of NPV.

Adjacent to the New Pond Village, there is a 90 bed skilled nursing and skilled rehabilitation facility called Harrington House, which may be available to residents of New Pond Village if the need arises. NPV cannot guarantee admission to Harrington House or any other health care facility.

SERVICES AND FEES

If you choose to live in the NPV, you must sign NPV’s Residency Agreement, pay an Entrance Fee and pay an ongoing monthly service fee based upon the size of the apartment home selected, the number of occupants and the optional services received. If two Residents occupy a single apartment home, a single Entrance Fee will be required from those Residents. The monthly service fee and personal care service fees are subject to adjustment whenever NPV deems a change is necessary to permit continued operation of the NPV on a financially sound basis. Appendix E sets forth the frequency and average dollar amounts of rate increases for the past five years that have been made by NPV and its predecessors.

As a Resident of Crosbey House, you will be entitled to your choice of one meal (breakfast, lunch or dinner) for each day of the month, plus social and recreational programs, wellness programs, housekeeping, maintenance, utilities (including sewer, water, electricity, heat, and air conditioning but excluding telephone, cable television and internet service), certain local transportation services, and security services, all as described in more detail in the attached Residency Agreement or in the Resident Handbook, which is available on request.

As a Resident of Aldridge House, you will be entitled to three meals per day

plus social and recreational programs, wellness programs, housekeeping, maintenance, utilities (including sewer, water, electricity, heat, and air conditioning but excluding telephone, cable television and internet service), certain

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local transportation services, and security services, all as described in more detail in the attached Residency Agreement and the Resident Handbook, which is available on request. In addition, you will also receive scheduled personal care services.

Residents transferring to, or initially occupying, Aldridge House will pay the standard monthly service fee then in effect for such facility and a fee for personal care services provided in Aldridge House. Residents transferring from unit to unit or between Crosbey House and Aldridge House may be liable for an additional Entrance Fee at the time of the transfer. Additional meals and other services will be available to all Residents for an additional charge. NPV reserves the right to alter the menu of services from time to time, as NPV deems necessary or desirable.

Current monthly service fees are listed in Appendix C to this Disclosure Statement and are subject to change from time to time. Each Resident must pay the monthly service fee and other charges on a timely basis. Failure to pay the applicable fees may result in termination of the Residency Agreement and termination of the Resident’s right to reside in NPV.

TEMPORARY HEALTH-RELATED TRANSFERS

If, while you are a Resident of Crosbey House or Aldridge House, NPV determines that you need additional health or nursing care beyond what NPV is capable of providing you, NPV will assist you in transferring to a hospital or to Harrington House or another skilled nursing facility on a temporary or permanent basis. In making that determination, NPV will consult, to the extent feasible, with your personal physician, family members or your personal representative. Similarly, if you believe that your health status requires you to transfer to a hospital or to Harrington House or another skilled nursing facility on a temporary or permanent basis, you may do so, subject to the provisions of the Residency Agreement.

During a temporary transfer to a hospital or skilled nursing facility, you must continue to pay the Crosbey House or Aldridge House apartment home monthly service fee. Aldridge House Residents will continue to pay the personal care service fee for the first 30 days of their absence. After 30 days, NPV will waive the personal care service fee until you return to your apartment home.

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If your temporary transfer becomes permanent, you will be required to remove all personal property and surrender the keys. NPV also may make the apartment home available to other Residents and you will no longer be required to pay the monthly fee. Generally, you determine whether your transfer continues to be temporary or is permanent. NPV, however, reserves the right to change your status after an absence of more than 60 days.

You (and not NPV) will be responsible for the cost of services that you

receive from health care professionals or at health care facilities, such as Harrington House or some other skilled nursing facility, an acute care hospital, a rehabilitation hospital, a substance abuse clinic, or a psychiatric facility. All Residents are required to maintain coverage under Medicare Parts A and B. NPV also strongly recommends that you maintain a Medicare supplemental policy.

APPLICATION AND RESERVATION AGREEMENT

Before being admitted as a Resident of NPV, you must complete a Confidential Data Application. If NPV determines that you satisfy the standards for admission to residency, you may reserve an apartment home by entering into a Reservation Agreement and paying a reservation deposit equal to 10% of the Entrance Fee for the designated apartment home amount (See the Section captioned “Residency Agreement, Payment of Entrance Fee and Deferred Fee,” below). The reservation deposit will be held by NPV. NPV will return the reservation deposit if you terminate the Reservation Agreement or fail to occupy the Apartment Home. The reservation deposit will be credited against your Entrance Fee when you move into your Apartment Home.

NPV also requires that you complete a health statement review and have a preadmission assessment performed by a nurse employed by NPV. NPV will use the pre-admission assessment, along with the results of the health statement review, to determine your eligibility to move into NPV, as well as the level of care you may require.

You may terminate the Reservation Agreement at any time prior to occupancy. Under certain circumstances described in the Reservation Agreement, NPV may also terminate the Reservation Agreement before occupancy. In either case, the reservation deposit will be refunded in full, without interest.

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RESIDENCY AGREEMENT, ENTRANCE FEE AND DEFERRED FEE

Prior to moving into your apartment home, you must sign a Residency Agreement and pay the Entrance Fee. A copy of the Residency Agreement is attached as Appendix B. NPV reserves the right to make changes to the Agreement prior to execution by the Resident. The Entrance Fee amount will vary according to the size and type of the apartment home chosen.

If two persons occupy the apartment home, repayment of the Entrance Fee amount will be made only after the Residency Agreement is terminated for both individuals.

Upon the repayment of your Entrance Fee, you, or upon your death, your estate, will receive a refund of 90% of the Entrance Fee pursuit to paragraph 4.3(a) of the Residency Agreement. NPV retains the other 10% of the Entrance Fee as a Deferred Fee. If the Residency Agreement terminates within the first nine months following your occupancy, NPV will prorate the deferred fee on a one-percent-per-month basis. If you owe NPV any fees or unpaid charges of any kind at the time NPV must repay the Entrance Fee, NPV has the right to offset those fees and charges against the refund due you or your estate.

PROVIDER INFORMATION

New Pond Village is operated by NPV Operator LLC (“NPV” or “NPV Operator”), a Delaware limited liability company. NPV Operator is a single purpose limited liability company which was created to operate the senior living community known as New Pond Village. NPV is not affiliated with any religious, charitable or non-profit organizations.

NPV Operator LLC has contracted with Benchmark Senior Living LLC to

manage New Pond Village.

Benchmark Senior Living LLC manages over 50 senior living communities located throughout New England and the mid-Atlantic region. With over twenty years’ experience, Benchmark offers a range of services, including independent retirement housing, assisted living, Alzheimer's care, and skilled nursing and skilled rehabilitation, depending upon the location. Three of the communities are continuing care retirement communities, like New Pond Village.

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NPV Operator is owned and managed by its sole member, New Pond Operating Associates LLC (“NPV Operator Parent Company”), which is owned and managed by two members: New Pond TRS Investors, LLC (an affiliate of Farallon Capital Management, LLC) and BSL New Pond Investors LLC (an affiliate of Benchmark Senior Living LLC).

The officers of NPV Operator are:

Thomas H. Grape, Chief Executive Officer Andrea M. Teichman, SVP and General Counsel of BSL Sarah Laffey, SVP, Capital of BSL George E. Morris, SVP, Finance/Accounting of BSL Jayne Sallerson, EVP, Sales and Operations of BSL

FINANCIAL INFORMATION The NPV senior living community was purchased by an affiliate of NPV Operator LLC on May 5, 2017. As a new operator, no audited and certified financial statements are available at this time. This Disclosure Statement will be supplemented on or before June 30, 2017 to incorporate a balance sheet and pro forma financial information.

FURTHER INFORMATION

Any prospective Resident who desires further information with regard to New Pond Village should call or write the Community Sales Director, New Pond Village, 180 Main Street, Walpole, Massachusetts 02081, (508) 660-1555. Thank you in advance for considering New Pond Village!

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APPENDIX A

RESERVATION AGREEMENT

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NPV OPERATOR LLC d/b/a NEW POND VILLAGE RESERVATION AGREEMENT

Resident: Apartment Home Number: Reservation Deposit: $ Entrance Fee: $ Monthly Service Fee: $ Personal Care Services Fee: $ (If applicable) Occupancy (Generating) Date: Closing Date: Physical Move-in Date: This RESERVATION AGREEMENT is entered into as of the date on the signature page by and between the above-named individual(s) (individually and collectively the “Resident”) and NPV Operator LLC d/b/a New Pond Village, a Delaware limited liability company (“NPV”), which operates Crosbey House and Aldridge House (collectively, the “Village”) at New Pond Village in Walpole, Massachusetts.

1. RESERVATION.

In exchange for the Reservation Deposit in the amount stated above, NPV

hereby reserves for Resident the Apartment Home designated above. NPV will hold the deposit in accordance with the term of this Agreement and will return the full deposit, without interest, upon the termination of this Agreement in accordance with Section 4.

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2. RESIDENT INFORMATION

2.1 Application. A preliminary determination will be made by NPV as to whether Resident meets the standards for admission to the Village. When applying for acceptance to the Village, the Resident will receive a physician’s questionnaire and other forms for supplementing the Confidential Data Application (the “Application”) previously submitted by Resident.

2.2 Medical Exam. Resident will be expected to complete and return

the medical forms included in the Application to NPV within two weeks of the date of receipt of the application, and in all cases prior to occupancy. Under certain circumstances, NPV may request Resident to undergo a further medical examination by a physician designated by NPV. Resident agrees to sign authorization forms so that health care providers will disclose medical information to NPV.

2.3 Final Determination. A final determination whether Resident meets the standards for admission to residency of the Village will be made by NPV as of the Occupancy Date based on the medical examination(s) and Resident’s physical and mental condition on the Occupancy Date. 3. OCCUPANCY DATE, ENTRANCE FEE AND OTHER FEES.

3.1 Right to Extend Occupancy Date. If NPV cannot deliver to Resident possession of the Apartment Home on the Closing Date, NPV and the Resident may agree in writing to a new Occupancy Date, and this Agreement shall remain in effect. Otherwise, this Agreement shall terminate, and Resident shall receive a full refund of the reservation deposit without interest.

3.2 Entrance Fee at Closing. Upon occupancy of the Apartment Home, Resident will execute a Residency Agreement and pay an Entrance Fee in the amount stated above. New Pond Village will apply the reservation deposit as a credit against the Entrance Fee amount.

3.3 Changes in Fees. The initial monthly and personal care fees stated above reflects the actual monthly fee and personal care services fee in effect at the time of this Reservation Agreement. NPV reserves the right to change the monthly services fee and personal care fees from time to time. Changes in fees, if any, shall be communicated to Residents at least 30 days prior to the date such changes will become effective.

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4. TERMINATION RIGHTS AND REFUND POLICY

4.1 Termination by Resident. Resident may terminate this Agreement for any reason after the date hereof and before occupying the Apartment Home by delivering written notice of termination to NPV.

4.2 Termination by NPV. If the Apartment Home is available for

occupancy on the Closing Date and Resident does not pay the Entrance Fee, on such date, NPV may consider Resident to have terminated this Agreement.

4.3 Health Status. NPV may terminate this Agreement on written notice to Resident at any time prior to occupancy of the Apartment Home if NPV determines that Resident no longer meets the standards for admission to the Village; or if Resident passes away.

4.4 Material Misrepresentation. NPV may terminate this Agreement on written notice to Resident at any time prior to occupancy of the Apartment Home by Resident if NPV determines that any information contained in Resident’s Application is untrue in any material respect. 5. Disclosure Statement.

Resident acknowledges that prior to the execution of this Agreement, and

prior to the transfer of the Reservation Deposit or any other money or property to NPV, NPV delivered to Resident a copy of the New Pond Village Disclosure Statement in accordance with the requirements of the laws of the Commonwealth of Massachusetts (the “Disclosure Statement”). 6. Notices.

Any notice to NPV from Resident must be given in writing and mailed or

delivered to NPV at 180 Main Street, Walpole, Massachusetts 02081 or at such other address as NPV may designate by notice to Resident. Any notice to Resident from NPV shall be given in writing and mailed or delivered to Resident at the address shown on the signature page of this Agreement or at such other address as Resident may designate by notice to NPV. 7. Binding Effect.

This Agreement will be binding upon and inure to the benefit of NPV and its

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successors and assigns and to Resident and the heirs and legal representatives of Resident. This Agreement is not assignable or transferable by Resident.

8. Entire Agreement.

This Agreement contains the entire understanding between Resident and

NPV regarding the reservation of an Apartment Home at the Village. No representation or promise not set forth in this Agreement or the Disclosure Statement have been made to Resident or will be binding on NPV.

[Signatures on Subsequent Page]

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IN WITNESS WHEREOF, this Agreement has been executed by the undersigned as of the date written below. NPV Operator LLC d/b/a New Pond Village By: Title: Authorized Representative RESIDENT: Resident’s Signature: Resident’s Printed Name: Social Security Number: D.O.B. Additional Resident’s Signature: Additional Resident’s Printed Name: Social Security Number: D.O.B. Current Address of Resident(s): Date: _____________________________

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APPENDIX B

RESIDENCY AGREEMENT

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RESIDENCY AGREEMENT NPV Operator LLC d/b/a New Pond Village

RESIDENT (S): APARTMENT HOME NUMBER ENTRANCE FEE AMOUNT: $ (90% refundable) INITIAL MONTHLY SERVICE FEE: $ INITIAL MONTHLY PERSONAL CARE SERVICES FEE (If applicable):

THIS RESIDENCY AGREEMENT is entered into by the Resident(s) named above (individually and/or collectively “Resident”) and NPV Operator LLC, a Delaware limited liability company (“Operator”), which operates Crosbey House and Aldridge House at New Pond Village in Walpole, Massachusetts (Crosbey House, Aldridge House and the surrounding grounds are sometimes referred to in this Agreement as the “Village”) as of the date set forth below on the signature page. 1. GENERAL SERVICES AND FACILITIES.

1.1 Basic Agreement. In exchange for the Entrance Fee and payment of monthly service fees and personal care service fees, Resident shall be entitled to occupy the Apartment Home indicated above and receive the services and use the facilities described in this Agreement according to the provisions of this Agreement. Occupancy of the Apartment Home will begin on the date (the “Occupancy Date”) shown on the signature page of this Agreement.

1.2 Apartment Furnishings. With the exception of apartment homes in Aldridge House, each Apartment Home is furnished with carpeting, sheer curtains, self-defrosting refrigerator and freezer, range, continuous cleaning oven, dishwasher, microwave oven, garbage disposal and emergency response systems in each bathroom. The apartment homes in Aldridge House are furnished with carpeting, sheer curtains, micro-wave oven and countertop refrigerator and do not include ranges, ovens, dishwashers, garbage disposals or patios. One surface parking space per Apartment Home is provided for Residents who drive during the term of this Agreement. The Apartment Home also has a designated storage area for Resident’s personal use.

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1.3 Community Areas. Resident shall have the nonexclusive right to use the Village’s community areas as such may be designated by Operator from time to time during the term of this Agreement. Operator reserves the right to exclude any Resident or their guests from any of the community areas for inappropriate or disruptive behavior. Times of availability and other situations that may affect Resident’s right to access and use of the community area are set forth in the Resident Handbook.

1.4 Included General Services. During the term of this Agreement,

Operator will provide Resident with the following services. A detailed description of all these services is provided in the Resident Handbook:

Food Service - One meal per day for Crosbey House Residents and three meals per day for Aldridge House Residents receiving personal care services.

Housekeeping - Every other week in Crosbey House and weekly in Aldridge House for Residents receiving personal care services.

Utilities - All utilities except cable and telephone services. Emergency System - Apartment Home furnished with response system and

monitored internally 24 hours per day. Security - Staff available will be onsite throughout the day. Laundry - Self-service facilities will be available throughout building. Maintenance - Operator will provide maintenance staff to manage daily

repairs of all property of the Village. Transportation - Fleet of vehicles with drivers available to provide driving

to scheduled local destinations. Entertainment and Recreation Programs - A variety of entertainment,

recreational, educational and cultural programs coordinated by staff. Wellness Programs - A variety of educational and health screening

programs coordinated by a staff nurse.

1.5 Additional Services. The following additional services will be available at the Village on a fee-for-service basis:

Additional housekeeping. Laundry services for personal items. Catering for special occasions. Additional transportation. Nurse Assessments

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Room service. Additional and guest meals. Personal care services Personal maintenance services Security pendant for Independent Residents

Charges for additional services will be made in accordance with Operator’s additional services fee schedule and will be billed to Resident monthly. Operator reserves the right to make changes to the additional services or to add or discontinue one or more of the additional services in its discretion from time to time during the term of this Agreement with a minimum of thirty (30) days’ notice.

1.6 Alteration to Apartment Home. Resident may make nonstructural alterations to the Apartment Home (including painting, wallpapering, building of bookshelves, etc.) with the prior approval of Operator. Any approved alteration will be performed at Resident’s expense by the Village’s maintenance staff or by a contractor approved by Operator. Resident shall not replace or add any locking devices to the Apartment Home. Upon termination of the Residency Agreement, Resident shall reimburse Operator all of its expenses to restore the Apartment Home to its original unaltered condition. Resident may not make alterations or additions to any area outside the Apartment Home, including corridors and apartment entrance alcoves.

1.7 Maintenance of Apartment Home and Community Areas. The Operator is responsible for necessary repairs, maintenance, and replacement of the Operator's property and equipment due to reasonable wear and tear. Maintenance, repair, or replacement of any property damaged through the damage or neglect of the Resident will be the sole responsibility of the Resident. Any reasonable costs associated with the Resident's damage or neglect will be billed to the Resident.

1.8 Security. The Resident acknowledges and agrees that the Operator is

not an insurer of the Resident's person or property, and is not liable for any personal injury or property damage. This includes, but is not limited to, damage to, loss or theft of vehicles or personal property of the Resident, or the Resident's agents, guests or invitees. It is recommended that a Resident, at their expense, obtain Renter’s Insurance. The Operator shall provide reasonable security of the community on a twenty-four (24) hour, seven (7) days a week basis. The Resident also agrees to abide by rules prohibiting unauthorized access through locked doors or other means. Emergency signaling devices are provided at marked locations throughout the

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community. Staff is available at all times to request emergency medical and protective services, such as 911, police and ambulance service. The Operator does not provide protective and emergency medical services, and any costs related to these services are the sole responsibility of the Resident.

2. HEALTH CARE SERVICES AND FACILITIES. 2.1 Aldridge House. Aldridge House is a community for persons in need of sustained personal care services. A Resident desiring to transfer to Aldridge House and meeting the standards then in effect for admission to Aldridge House will be given priority admission. Admission directly to Aldridge House will be available to new applicants when a vacant apartment home in Aldridge House is available. Upon transfer or direct move-in to Aldridge House, Operator will provide the personal care services requested by the Resident and will bill monthly for such services at Operator’s then current rates. In the event the resident is hospitalized or is in the care of a rehabilitation facility, the daily charge for personal care will remain in effect for up to 30 days following the transfer from Aldridge House.

2.2 Harrington House and other skilled nursing facilities. Harrington

House is a skilled nursing facility currently located adjacent to the Village. Operator cannot guarantee admission to Harrington House or any other health care facility.

2.3 Temporary or Permanent Transfers. If the Apartment Home covered

by this Agreement is located in Crosbey House and Operator determines that Resident is unable to live independently in the Apartment Home, the Resident, if requested by Operator, shall transfer to Aldridge House or, if Resident’s condition is too acute for Aldridge House, Resident shall transfer to a nursing home or other appropriate health care facility. The decision as to whether any such transfer is permanent (hereinafter referred to as a “Permanent Transfer”) or temporary (hereinafter referred to as a “Temporary Transfer”) shall involve the Operator and to the extent feasible, Resident, Resident’s family members or representatives, and Resident’s attending physician. Operator, however, has the right to deem a Temporary Transfer outside of the Village to be a Permanent Transfer if Resident is absent from his or her Apartment Home for more than 60 consecutive days.

2.4 Basis to Determine Whether Transfers are Temporary or Permanent

(a) Temporary Transfer - A Resident will be considered to have made a

Temporary Transfer if, based on Resident’s health status, that Resident is likely to

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return to the Apartment Home within 60 days. (b) Permanent Transfer - A Resident will be considered to have made a

Permanent Transfer based on Resident’s health status, that Resident is likely to be in need of nursing care for the foreseeable future, or Operator determines, after Resident has been absent for more than 60 consecutive days, that Resident’s condition is not likely to improve.

(c) Notwithstanding anything to the contrary in this Agreement, if Operator

disagrees with any determination made by or on behalf of Resident under this Section 2, Operator reserves the right to terminate this Agreement pursuant to the criteria in Section 4.1(b).

2.5 Agreement to Transfer to Other Facilities If Required. If Operator

determines that Resident has a medical or physical condition that requires health care services beyond those for which Aldridge House is staffed or equipped to provide or if Resident requires skilled nursing services, Resident agrees to leave the Village for such health care or skilled nursing services. If Resident’s medical or physical condition requires extended health care services, this Agreement will be subject to termination in accordance with Section 4.1(b).

2.6 Re-admission to Crosbey House. If after a transfer to Aldridge House or a Permanent Transfer to a nursing facility, Resident again meets the standards for admission to residency of Crosbey House and wishes to return to Crosbey House, Resident will be given priority admission for an apartment home in Crosbey House when any such apartment home becomes vacant and available.

2.7 Medicare. During the term of this Agreement, each person who is a Resident will be required to enroll in the Medicare Parts A and B programs, in any future program that may be offered by Medicare or in any similar or successor governmental program. A Resident who is not qualified for Medicare coverage due to age will maintain comprehensive health insurance coverage satisfactory to Operator. Evidence of such insurance will be provided to Operator upon request. Resident, not Operator, will be responsible for the cost of services rendered in an acute care-hospital, a rehabilitation hospital, a skilled nursing facility, a substance abuse clinic, or a psychiatric facility.

2.8 Charges During Transfer. During a Temporary Transfer, Resident will continue to pay the monthly service fee, and, if applicable, the personal care services fee for the Apartment Home. In a single occupancy, a Permanent Transfer will be

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effective on the termination date specified either in Section 4.1(a) or (b), as may be applicable. Thereafter, Resident will no longer be required to pay the monthly service fee. In a double occupancy, a Permanent Transfer will be effective on the date the Operator is advised second resident will no longer reside at New Pond Village, the monthly service fee is reduced for the Resident remaining in the Apartment Home to the single occupancy monthly service fee and the Resident transfers to a nursing home or other permanent arrangement. 3. FEES 3.1 Entrance Fee. Resident or guarantor shall pay the Entrance Fee as stated on the first page of this Agreement before occupying the Apartment Home. Two Residents occupying a single unit shall be required to pay only one Entrance Fee. Prior to the Occupancy Date, the Entrance Fee (less any costs Operator specifically incurs at Resident’s request) shall be returned to Resident or Resident’s legal representative within a reasonable time after this Agreement is terminated. From and after the Occupancy Date, the Entrance Fee, minus the Deferred Fee and other adjustments, shall be refunded to the Resident or the Resident’s legal representative upon termination of this Agreement and surrender of the Apartment Home by all Residents listed on the first page of this Agreement residing the Apartment Home (except in cases of transfer to another Apartment Home in the Village), all in accordance with Section 4 of this Agreement. The Entrance Fee will be held in Operator’s unrestricted cash account and may be used by Operator for such purposes as it deems necessary or desirable. The funds will be invested and secured in a manner Operator deems appropriate to enable it to perform fully its obligations under the residency agreements, including this Agreement.

3.2 Monthly and Additional Service Fees. Crosbey House Residents will pay a monthly service fee for the services described in Section 1.4. Aldridge House Residents will, in addition to the monthly service fee, pay a personal care services fee. Upon not fewer than 30 days’ prior notice to Resident, Operator may change the base monthly services fee and the personal care services fee. The base monthly service fee will be prorated on a daily basis for the first month of occupancy. Fees for additional services will be charged in accordance with the additional services fee schedule established by Operator. The additional service fee schedule is subject to change at any time upon not fewer than 30 days’ prior written notice to Resident.

3.3 Billing. Resident may charge items that will be posted to monthly

statements, including guest meals, guest rooms, additional housekeeping services,

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etc. Monthly statements will be distributed to Residents in sealed envelopes before the end of each month. Additional service fees incurred the previous month and the monthly fee for the current month will be included. Payment is due on the first of each calendar month.

3.4 Late Charge. All fees and charges are due and payable in full on the due date set forth on the invoice. If Resident fails to remit the fees when due and such failure continues for a period of thirty (30) days, Operator may assess a late charge of one and one-half percent (1.5%) of the outstanding balance that is late for each month that the fees remain outstanding. If Resident’s check is not honored for payment, Operator will assess a bank service fee of $25 in addition to any other fees that are assessed.

3.5 Change in Occupancy. If the Apartment Home is occupied by two persons and one permanently vacates the Apartment Home for any reason, the remaining Resident’s obligations under this Agreement will continue in full legal force and effect as to the remaining Resident, and the monthly fee will be adjusted to reflect the single occupancy rate then in effect for the Apartment Home. If a Resident and a nonresident (including a new spouse) desire to share the Apartment Home, the nonresident may become a Resident and live in the apartment only if the nonresident meets the standards for admission to residency of the Village and both persons execute a new Residency Agreement. In such event, the monthly fee will be adjusted to reflect the rate for double occupancy then in effect for the Apartment Home. If the nonresident does not meet the Standards for Admission, then the nonresident will not be permitted to live in the Apartment Home. In such circumstances, Operator may, in Operator’s sole discretion, waive the Standards for Admission for such nonresident.

3.6 Liability for Charges. Each person who is designated as a Resident in this Agreement is jointly and severally liable for the payment of the monthly fees, additional service fees, and all other amounts required to be paid to Operator pursuant to the provisions of this Agreement. If Operator initiates legal action or other proceedings to recover amounts from Resident due to Operator under this Agreement, Operator also will be entitled to recover legal fees and costs, including attorney’s fees and expenses, incurred in connection with the Operator’s enforcement of this Agreement.

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4. TERM, TERMINATION AND DEFERRED FEE; CHANGES IN OCCUPANCY.

4.1 Termination of Residency. This Agreement shall be effective until

terminated:

(a) By Resident, on a date that is later of (1) 60 days following delivery of written notice of termination to Operator or (2) the date that Resident removes all of his or her personal property from the Village, and surrenders keys to Operator;

(b) By Operator, 60 days after Operator determines, in accordance with

Section 2.4 or 2.5 of this Agreement, that (1) a Permanent Transfer of Resident is appropriate, or (2) Resident is in need of health care services for which Aldridge House is not appropriate and Resident refuses to leave the Village for treatment;

(c) By Operator, upon immediate notice to Resident, if Operator determines that Resident’s continued residence in the Apartment Home presents a danger to the safety and well-being of Resident or others;

(d) By Operator, if Resident fails to pay the base monthly services fee,

additional services fees or any other amounts payable under this Agreement when due (subject, however, to the provisions of Section 4.3 hereof) and does not cure such failure within thirty (30) days of receiving written notice thereof;

(e) By Operator, if Resident violates any other provision of this Agreement

or repeatedly violates the Village’s rules and regulations and such violation is not cured within 30 days after Operator notifies Resident of the inappropriate behavior or violation;

(f) By Operator, if it discovers a material misstatement or omission in the

Confidential Data Application or other information submitted by or on behalf of Resident;

(g) By Operator, if all or a portion of the Apartment Home, the building in

which it is situated, or the Village is destroyed or made untenantable by fire, flood, storm or other casualty or cause and Operator decides not to

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rebuild the Apartment Home;

(h) By Operator, if all or any portion of the Apartment Home, the building in which it is situated, or the Village is taken by the exercise of eminent domain; or

(i) Automatically following the death of Resident, removal of all his or

her personal property from the apartment home and surrender of apartment home keys to the Operator

4.2 Agreement to Remain in Effect Upon Transfer to Aldridge House. If

Resident makes a Permanent Transfer to Aldridge House, this Agreement will remain in full force and effect, except that the facilities and services provided by Operator and the base monthly services fee or daily rate payable by Resident will be in accordance with those then in effect for Aldridge House. The entrance fee will be adjusted as described in Section 4.6. An addendum to this Agreement will be issued indicating the changes. Operator may make an Apartment Home available to other prospective Residents upon (a) the permanent transfer of the last person designated as Resident to another Apartment Home or another nursing facility or (b) termination of this Agreement for any reason.

4.3 Repayment of Entrance Fee

(a) When Resident leaves the Village, the Entrance Fee (less any amounts offset pursuant to Sections 4.3(b), 4.4 and 4.5), will be repaid to Resident or Resident’s legally designated recipient within 60 days after fulfillment of the following conditions: (a) this Agreement has been terminated; (b) Resident has vacated and Resident or Resident’s legal representative or family have removed all possessions from Resident’s Apartment Home and paid all outstanding fees and charges; and (c) a new resident has signed a Residency Agreement for the Apartment Home, has paid the entrance fee therefor and has commenced occupancy of the Apartment Home (a “Qualified Resale”). If there has not been a Qualified Resale of Resident’s Apartment Home within a reasonable period of time, in Operator’s sole discretion, then Operator will so notify Resident or Resident’s legal representative. Resident or Resident’s legal representative may then either (i) direct Operator to continue marketing the Apartment Home, in which case Resident shall receive the Entrance Fee refund only at such time as there is a Qualified Resale of the Apartment Home, or (ii) agree to accept in lieu of the Entrance

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Fee refund specified above an amount that equals the Entrance Fee less one percent (1%) of the Entrance Fee for each month of Resident’s occupancy of the Apartment Home (the “Alternative Refund Amount”), which amount shall be paid within 30 days of such election and shall be the sole amount due to Resident hereunder. If Resident or Resident’s legal representative request that Operator continue marketing the Apartment Home under clause (i) above, Resident (or Resident’s legal representative) and Operator shall review progress on an annual basis thereafter (or more frequently, as mutually agreed) and Resident or Resident’s legal representative may elect the Alternative Refund Amount in lieu of the full Entrance Fee refund due upon a Qualified Resale at any such review. Notwithstanding anything in this Section 4.3(a) to the contrary, either the Entrance Fee Refund or the Alternative Refund Amount, as applicable, shall in all events be paid to Resident or Resident’s legally designated recipient by no later than the tenth anniversary of the date of termination of this Agreement. As clarification, if the “new resident” is an internal transfer, then the Entrance Fee shall be refunded upon the resale and close of the apartment vacated by the transferring resident.

(b) Operator may, in its sole discretion, allow Resident to credit against the

Entrance Fee due following the termination of this Agreement, any amount that may be due Operator from Resident under this Agreement. At such time as the remaining Entrance Fee balance equals the sum of (i) the unpaid balance of any additional service fees and other charges owed by Resident to Operator, plus (ii) an amount equal to ten percent (10%) of the original Entrance Fee, Operator may offset the entire remaining Entrance Fee amount outstanding in satisfaction of Resident’s obligations under Sections 4.4 and 4.5 hereof.

4.4 Deferred Fee. Upon termination of this Agreement for whatever reason

as to all persons designated as Resident, Resident will pay to Operator a deferred fee (the “Deferred Fee”) equal to the lesser of 10% of the Entrance Fee or the product of (a) one percent multiplied by (b) the number of months of occupancy of the Apartment Home. The Deferred Fee will be due and payable on the date that the Entrance Fee is repaid by Operator, or termination of this Agreement occurs, whichever is later.

4.5 Right of Set-Off Other Rights. Operator shall have the right to set-off, against repayment of the Entrance Fee, the Deferred Fee and any other fees or

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amounts payable to Operator under this Agreement that are unpaid at the time the repayment of the Entrance Fee is due. Termination of this Agreement for whatever reason will not affect or impair the exercise of any right or remedy granted to Operator or Resident under this Agreement for any claim or cause of action occurring prior to the date of such termination. In addition, in the event Resident encounters financial difficulties making it impossible for Resident to pay the full Monthly Service Fee and other charges due hereunder, Resident may request in writing and Operator may, in its sole discretion, agree to an appropriate reduced Monthly Service Fee with the balance of the Monthly Service Fee and other charges due hereunder and unpaid to be set-off against and repaid to Operator from the refundable portion of the Entrance Fee. The provisions of this Section shall survive the expiration or termination of this Agreement.

4.6 Entrance Fee Adjustment Upon Transfer. Resident may move to another apartment within Crosbey House or within Aldridge House, subject to availability. In such event, this Agreement will remain in full force with an addendum issued to document the change in the Apartment Home Number, and Entrance Fee amount. If the new Entrance Fee is greater than the original Entrance Fee minus the Deferred Fee, the Resident will pay the difference before moving into the new Apartment Home and Operator will be entitled to retain ten percent (10%) of the amount so paid by Resident. If the new Entrance Fee is less than the original Entrance Fee minus the Deferred Fee, no additional Entrance Fee will be required from Resident and the difference will be paid to the Resident upon resale of former apartment home. If a re-location occurs during the first nine months of residency at the Village, the Deferred Fee will be assessed against the original Entrance Fee at the rate of 1% of the Entrance Fee for each month of occupancy.

4.7 Resident’s Responsibility. Resident agrees that the Resident shall make no gift of real or personal property that could impair Resident’s ability to satisfy the financial obligations under this Agreement. If Resident’s income is insufficient to meet his or her financial responsibilities to Operator, Resident shall make all reasonable efforts to obtain assistance elsewhere, including taking necessary steps to obtain applicable local, county, state or federal aid or assistance. As a condition to having the Entrance Fee credited against fees due Operator by Resident under this Agreement, Resident must represent that he or she has not made any gift of real or personal property in contemplation of the execution of this Agreement. 5. MISCELLANEOUS.

5.1 Resident Handbook. Resident will observe and abide by the rules and

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policies set forth in the Resident Handbook, a copy of which Operator included with Resident’s admission package. Operator reserves the right to change or otherwise modify rules and policies or the Resident Handbook from time to time. If Operator does so, it will provide Resident with a copy of the revised Resident Handbook or the specific revised rule or policy. If Operator determines that Resident is not complying with the Resident Handbook, Operator will ask Resident to discontinue the behavior that Operator believes to be in violation of the Resident Handbook. By signing this Residency Agreement, Resident acknowledges that he or she has received a copy of the Resident Handbook and agrees to abide by its terms as it may change from time to time during the term of this Agreement.

5.2 Resident’s Interest. Resident does not have any proprietary interest in

Operator, Operator’s assets or properties, or the assets and properties of Operator by virtue of this Agreement.

5.3 Responsibility for Resident’s Property. Operator will not be

responsible for damage or loss to any personal property belonging to Resident caused by fire, flooding, or other casualty, or by leaking of water, bursting of pipes, theft or any other cause. Resident will be solely responsible for insuring against property damage or loss and personal liability. In the event of Resident’s death or transfer from the Village, Operator will exercise ordinary care in temporarily safekeeping Resident’s personal property at the Village. If such property is not removed from the Village premises within 30 days after the last surviving Resident’s death, or 60 days following Operator’s receipt of notice to terminate the Agreement, Operator reserves the right to have such property placed in a commercial bonded warehouse at the expense and risk of Resident or Resident’s estate. If Resident fails to claim any personal property from the Apartment Home or warehouse within 180 days after termination of this Agreement, Operator retains the right to sell such personal property and to retain from the proceeds thereof an amount equal to its expenses in moving and storing such personal property and any other fees, charges, or costs owed to Operator hereunder or relating to such moving and storage.

5.4 Right of Entry. The Operator reserves the right to enter the Apartment Home at any time with reasonable notification to Resident for inspection or servicing, in order to maintain the Apartment Home in a safe and healthy condition, or, without notification, to respond to an emergency. Resident is not permitted to change the entry locks, and Resident is required to cooperate with the Operator to permit entry as necessary. The Operator or staff will knock, announce him/herself, and receive permission to enter before entering the living space, and will schedule

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entry in advance if possible. 5.5 Indemnification for Negligence. Resident will indemnify, protect and

hold harmless Operator for any loss, damage, injury or expense incurred by it as a result of the careless, negligent or willful acts of Resident or Resident’s invitees or guests.

5.6 Guests. Occupancy of the Apartment Home and use of the community facilities is limited to Resident and Resident’s guests. Guests may occupy the Apartment Home for no more than 14 days during any calendar quarter unless prior written approval of Operator is granted. Resident will be responsible for the conduct of Resident’s guests and for payment of any charges incurred by Resident’s guests.

5.7 Absence from Village. Resident agrees to notify the Village’s management in advance of any contemplated overnight or longer absence from the Village and during such absence the monthly service fee shall remain in effect provided Resident may receive a meal credit as set forth in the resident handbook.

5.8 Damage to Apartment. If fire, flood, storm or other casualty or cause damages the Apartment Home and Operator elects not to terminate this Agreement in accordance with Section 4.1(g), Operator will, at its expense, proceed diligently to repair and restore the Apartment Home. If the Apartment Home is untenantable during the repair, Operator will relocate Resident to a comparable type Apartment Home at the Village, if available, or, if not, Operator will endeavor to relocate Resident temporarily to any other available Apartment Home and the monthly fee will be adjusted for the type of Apartment Home temporarily occupied by Resident.

5.9 Pets. Well-trained, well-behaved pets (as determined by Operator) may be kept in the Apartment Home. Resident will be responsible for the pet’s litter and for any damage caused by the pet. Resident will comply with the Village’s pet policies, including limitations on the type or size of pet that may be maintained. Resident agrees to relinquish the pet in the event of repeated violations of the pet policies or complaints from neighbors.

5.10 Entire Agreement. This Agreement (including all exhibits) and Resident’s Confidential Data Application, constitute the entire agreement between Operator and Resident. Operator will not be liable for, or bound by, any statements, representations or promises made to Resident by any person representing or purporting to represent Operator or the Village unless such statements, representations or promises are expressly set forth in these documents.

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5.11 Binding Effect. This Agreement is binding upon the heirs and legal

representative of Resident. The provisions of this Agreement are not assignable or transferable in whole or in part by Resident, and Resident has no right to sublet or assign the Apartment Home. In connection with the transfer of Operator’s interests in the Village, Operator may assign all of its rights and obligations under this Agreement to an assignee who agrees to assume the obligations arising under this Agreement. Upon such an assignment, Operator shall be released from all further obligations arising under this Agreement and Resident shall look solely to the assignee for enforcement of any of Resident’s rights under this Agreement on and after the effective date of such assignment.

5.12 Right to Cure Defaults. Operator, upon notice to Resident as is reasonable under the circumstances, may, but shall not be under any obligation to, cure any failure by Resident to perform any of Resident’s covenants, agreements or obligations under this Agreement. If Operator chooses to do so, all costs and expenses, including reasonable attorney fees and interest on the amount of any advances at an interest rate of eight percent (8%) will be deemed a charge against Resident. Resident also will pay Operator all expenses incurred by Operator in enforcing Resident’s obligations under this Agreement.

5.13 Survival. Any termination of this Agreement should not affect or otherwise modify any obligation of the parties existing prior to the termination of this Agreement.

5.14 Guardianship and Powers of Attorney. Resident agrees that the Provider's owners, directors or employees will not seek and may not be assigned power or attorney or guardian for a Resident.

5.15 Severability. If a court holds any provision of this Agreement or the application to any circumstance or person to be invalid or unenforceable, the remainder of this Agreement or the application of such provision to persons or circumstances other than those to which it is held invalid or unenforceable will not be affected. Each provision of this Agreement will be deemed separate from each other provision and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the balance of this Agreement.

5.16 Medical Information. The Resident, by executing this Agreement, agrees to authorize any and all of Resident’s doctors, hospitals, health care providers and health care insurers to release any and all medical information, reports, x-rays,

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diagnosis, prognosis, prescriptions, history and insurance coverage information to the Operator for the purpose of providing services to the Resident or making determinations required by this Agreement. Resident will, on Operator’s request, sign and deliver to Operator authorization forms in the form attached hereto as Exhibit B, as needed for the disclosure of such information from time to time.

5.17 Consent for Use of Audio Recordings & Photographs. Resident hereby consents to A) use of their photograph by the Operator for promotional purposes, and B) be involved in a quality review of the Operator that may involve taping of voice and image.

5.18 Non-Discrimination. The Village will be operated on a non-

discriminatory basis, and will provide the facilities and services described in this Agreement to individuals regardless of race, color, sex, religion, creed or national origin, and any other group protected under local, state, or federal law.

5.20 Notices. Any notice to Operator by Resident shall be given in writing and mailed or delivered to Operator at the administrative office of the Village or at such other addresses as Operator may designate by notice to Resident. Any notice to Resident by Operator shall be given in writing and mailed or delivered to Resident’s Apartment Home or at such other address as Resident may designate by notice to Operator.

5.21 No Waiver. No waiver of any of the Operator’s rights or remedies hereunder shall be effective unless such waiver is in writing and signed by an authorized representative of Operator, and then only to the extent specifically set forth therein. No assent or waiver by Operator to or of any breach of any term or provision of this Agreement shall be deemed to be an assent or waiver to or of such or any succeeding breach of the same or any other such term or provision.

5.22 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts.

5.23 Amendments. This Agreement may not be amended except by a written

instrument executed by an authorized officer of Operator and by Resident or Resident’s legal representative.

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6. SIGNATURES IN WITNESS WHEREOF, Operator and Resident have signed this Agreement on this day of 2017.

Benchmark Senior Living LLC on behalf of Operator

By:

Name:___________________________ Title: Executive Director

Resident’s Signature: ______________________________ Resident’s Printed Name: Additional Resident’s Signature: ______________________________ Additional Resident’s Printed Name: OCCUPANCY DATE: ENTRANCE FEE PAYMENT DATE: If refund of Entrance Fee upon termination of this Residency Agreement to be issued to a trust or designated party other than the Resident, please complete the following: Name of party to whom Entrance Fee is to be refunded Authorized Signature of Trustee or designated party Address to which refund to be sent

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MUTUAL AGREEMENT TO ARBITRATE DISPUTES

EXECUTION OF THIS AGREEMENT IS NOT A CONDITION TO ADMISSION TO NEW POND VILLAGE

This Mutual Agreement to Arbitrate Disputes (this "Agreement") is a voluntary agreement between NPV Operator LLC ("Provider") and the undersigned Resident(s) ("Resident") to use binding arbitration instead of court process to resolve any claim between them arising out of either the Residency Agreement signed by Resident and Provider, or any service provided in connection with Resident’s residency at New Pond Village (the "Community"). 1. Resident’s Right to Terminate this Agreement.

A. Resident has the right to terminate this Agreement, provided that written notice of the decision to terminate is delivered to Provider’s Notice Address in the Residency Agreement within thirty (30) days of the date of Resident’s signature to this Agreement below ("Rescission Period"). 2. Understanding of Dispute Resolution Process.

A. Provider and Resident (collectively, "Parties") acknowledge that they agree

that if there is a dispute or claim between them arising out of the Residency Agreement or related to Resident’s residency at the Community, Resident and Provider shall first use reasonable and good faith efforts to resolve it among themselves, without resort to third party process.

B. The Parties further agree that if they are unable to resolve any dispute or claim between them arising out of the Residency Agreement or related to Resident's residency at the Community as set forth in subsection A above, that arbitration is the sole and exclusive process for the pursuit of all claims each may have against the other that at the time of the dispute can be arbitrated under Massachusetts law. The Parties understand and agree that any claims within the scope of arbitration that are not brought or pursued within the time and other requirements of arbitration, are forever waived and cannot be pursued in another forum. Once this Agreement is signed, the Parties give up any right they may have to a jury trial or to file an

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action in a court of law relating to those claims, even if a party later decides not to proceed to arbitration.

3. Claims Covered by the Arbitration.

This Agreement covers disputes asserted by Resident against Provider (and its present or former manager) and by Provider against Resident arising out of either the Residency Agreement signed by Resident and Provider, or any service provided in connection with Resident’s residency at the Community, but excludes those claims listed below in paragraph 4 below. The claims covered by this Agreement include, but are not limited to, claims for breach of any contract, policy, express or implied; tort claims such as negligence; claims for discrimination, or any other claim for violation of any federal, state or governmental, constitution, statute ordinance or regulation (collectively, "Claims").

4. Claims Not Covered by This Agreement.

This Agreement does not apply to or cover the following Claims: Provider’s collection of any delinquency in amounts due Provider in connection with Resident’s residency (unless Provider waives its right to pursue such delinquency in court); Claims concerning Provider’s request for Resident to leave the Community which are governed by summary process under Massachusetts landlord/tenant law; and Claims as to which Massachusetts law clearly provides may not be arbitrated at the time the claim is brought. The Parties may, without violation of the terms of this Agreement, seek injunctive or other relief in court with respect to claims that are not covered by this Agreement. 5. Arbitration Rules.

A. The arbitrator shall have all of the rights and remedies available in a court of law. Arbitration shall be conducted in the City or County in which the Community is located, by a single neutral arbitrator selected in accordance with the provisions of Massachusetts law and the Massachusetts Rules of Civil Procedure, unless otherwise mutually agreed. In reaching a decision, the arbitrator shall prepare findings of fact and conclusions of law and the decision may be filed with a Massachusetts court. Each party shall bear its own costs and fees in connection with any legal proceeding (including arbitration) hereunder. This arbitration clause binds all Parties to this Agreement and their spouse, heirs, representatives, executors, administrators, successors, and assigns, as applicable. After termination

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of this Agreement, this arbitration clause shall remain in effect for the resolution of all claims and disputes that are unresolved as of that date.

B. The arbitrator shall have authority to decide whether a dispute is subject to

arbitration and whether the time and other requirements of the arbitration have been met.

C. The decision of an arbitrator shall be final and binding upon the parties and enforceable in a court of competent jurisdiction in accordance with Federal Arbitration Act. 9 U.S.C.A. Sections 1-14. 6. Consideration.

Each Party’s promise to resolve Claims by arbitration in accordance with the provisions of this Agreement, rather than through the courts, is consideration for the other party’s like promise. In addition, the Parties agree that the opportunity to use the arbitration is valuable consideration for this Agreement.

7. Term, Modification and Revocation.

This Agreement shall survive the resident relationship between Provider and the Resident. Following the Rescission Period, this Agreement can be modified or revoked only by a writing signed by both Parties that references this Agreement and specifically states an intent to modify or revoke this Agreement.

8. Construction and Enforceability.

A. If any provision of this Agreement is adjudged to be void or otherwise unenforceable, in whole or in part, such adjudication shall not affect the validity of the remainder of this Agreement.

B. Either party may bring an action in any court of competent jurisdiction to enforce the terms of this Agreement, compel arbitration under this Agreement, dismiss or stay proceedings not authorized by this Agreement and to enforce an arbitration award. Except as otherwise provided in this Agreement, both Provider and the Resident agree that neither party shall initiate or prosecute any lawsuit or administrative action (other than an administrative charge of discrimination) which relates in any way to any Claim covered by this Agreement.

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9. Confidentiality.

This Agreement and all proceedings under it are intended to be confidential to the full extent permitted by law.

10. Sole and Entire Agreement.

This is the complete agreement of the Parties on the subject of Arbitration and arbitration of disputes. This Agreement supersedes any other prior or contemporaneous oral or written agreement or understanding on the subject. In executing this Agreement, neither party is relying on any representation, oral or written, on the subject of the effect, enforceability or meaning of this Agreement, except as specifically set forth in this Agreement.

11. Voluntary Agreement.

RESIDENT ACKNOWLEDGES THAT HE OR SHE HAS CAREFULLY READ THIS AGREEMENT, THAT HE OR SHE UNDERSTANDS ITS TERMS, THAT ALL UNDERSTANDINGS BETWEEN THE RESIDENT AND PROVIDER RELATING TO THE SUBJECTS COVERED IN THIS AGREEMENT ARE CONTAINED IN THIS AGREEMENT AND IN THE RESIDENCY AGREEMENT, AND THAT HE OR SHE HAS ENTERED INTO THIS AGREEMENT VOLUNTARILY AND NOT IN RELIANCE ON ANY PROMISES OR REPRESENTATIONS BY PROVIDER OTHER THAN THOSE CONTAINED IN THIS AGREEMENT ITSELF. RESIDENT FURTHER ACKNOWLEDGES THAT HE OR SHE HAD A REASONABLE PERIOD OF TIME TO REVIEW AND CONSIDER THIS AGREEMENT BEFORE SIGNING IT AND THAT HE OR SHE HAD AN OPPORTUNITY TO DISCUSS THIS AGREEMENT WITH HIS OR HER PERSONAL LEGAL COUNSEL AND HAS USED THAT OPPORTUNITY TO THE EXTENT HE OR SHE WISHES TO DO SO.

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RESIDENT(S):

________________________________ Signature of Resident Name: Date: ________________________________ Signature of Resident Name: Date:

PROVIDER:

______________________________

By: ______________________________

Title: ______________________________

Date: ______________________________

RESPONSIBLE PARTY:

Signature of Responsible Party Name: Date:

May 1, 2017  

 

APPENDIX C

FEE SCHEDULE

Entrance Fee Includes

CrosbeyHouseFeeSchedule

The payment of a 90% refundable Entrance Fee entitles the resident to live in a graciously appointed one - or - two bedroom apartment home with an option to include a den. Each residence includes a fully applianced kitchen, one or two full baths, window sheers, balcony or patio, storage and parking.

Monthly Fee Includes Choice of one meal a day, all utilities except telephone and cable television, housekeeping every other week, 24-hour security and emergency call system, scheduled transportation, maintenance and entertainment, health and educational programs.

Residences Description Entrance Fee Monthly Fee

Astor One Bedroom $240,000-$250,000 $2,965.00

Essex One Bedroom $265,000-$275,000 $3,060.00

Berkeley One Bedroom $300,000-$309,000 $3,060.00

Bradford One Bedroom $270,000-$280,000 $3,060.00

Somerset One Bedroom $275,000-$285,000 $3,060.00

Biltmore One Bedroom +Den $299,000 $3,850.00

Plaza Two Bedroom $335,000-$360,000 $3,850.00

Plaza Suite Two Bedroom $409,000-$425,000 $3,850.00

Commander Two Bedroom $365,000-$389,000 $3,960.00

Commander Suite Two Bedroom $425,000 $3,960.00

Buckminster Two Bedroom $365,000-$380,000 $3,960.00

Eliot Two Bedroom $375,000-$389,000 $3,960.00

Eliot Suite Two Bedroom + Den $450,000-$475,000 $4,330.00

Madison Two Bedroom $365,000-$399,000 $3,960.00

Wellesley Two Bedroom $410,000-$430,000 $3,960.00

Ritz Two Bedroom + Den $450,000-$525,000 $4,675.00

Ritz Suite Two Bedroom + Den $545,000 $4,675.00

Second Person Fee per month: $750.00

Effective May 5, 2017

Please consult our Community Sales Director for further information on our fees.

180 Main Street • Walpole, MA 02081 Phone (508) 660-1555 • Fax (508) 668-8893

Web site www.NewPondVillage.com

AldridgeHouseFeeScheduleFriendly Assistance from Caring Staff Aldridge House at New Pond Village provides supportive care for those looking for an extra pair of experienced and compassionate hands to assist in performing some of the basic functions of daily living such as meal preparation, housekeeping and personal care activities. Residents enjoy the privacy of their own one-or two-bedroom apartment home and the benefits of a full-service retirement community. Aldridge House encourages residents to maintain their individuality in an atmosphere of warmth and friendship.

Entrance Fee Includes The payment of a 90% refundable Entrance Fee entitles the resident to reside in a graciously appointed apartment home with 24-hour emergency call system, efficiency kitchen, window sheers, built-in bookcase and hutch with additional storage space. Access to library, activity room, beauty/barber salon, fitness center and much more is included.

MonthlyFeeIncludes• 24-hour personal care staff who provide a

personalized service plan of up to 90 minutes per day

• Access to licensed nurse on duty 24 hours per day 7 days a week to consult with residents, family and physicians

• 24-hour monitored emergency alert system with CPR-certified staff

• Three delicious meals served daily in a gracious dining room

• Weekly housekeeping services and courteous maintenance service

• All utilities except telephone and cable television

• Organized entertainment, health, and educational programs

• Scheduled transportation available for medical appointments, shopping, and more

Residences Description Entrance Fee Monthly FeeAshmont One Bedroom $220,000-$230,000 $6,150* Bristol Two Bedroom $280,000 $6,655*

Second Person Fee per month $900

Second Person Fee with daily personal care $2,520

*Includes all services, including daily personal care for a 30-day month

Effective May 5, 2017

Please consult our Community Sales Director for further information on our fees.

180 Main Street • Walpole, MA 02081 Phone (508) 660-1555 • Fax (508) 668-8893

Web site www.NewPondVillage.com

May 1, 2017  

APPENDIX D

FINANCIAL INFORMATION

(TO BE PROVIDED)

May 1, 2017  

APPENDIX E

TABLE OF RATE CHANGES

Historical Overview of Changes in Monthly Fees

(FY 2011-2016)

Five Year Summary of Monthly Service Charge Increases

January 2016 - January 2017 Average Increase of $106/mo. (3%)

January 2015– January 2016 Average Increase of $138/mo. (4%)

January 2014 – January 2015 Average Increase of $132/mo. (4%)

January 2013 – January 2014 Average Increase of $125/mo. (4%)

July 2012 - January 2013 Average Increase of $137/mo. (4.5%)

January 2012 – July 2012 Average Increase of $66/mo. (2.2%)

Please note that neither NPV Operator LLC nor Benchmark Senior Living operated the New Pond Village community during the time frame set forth above.