RESIDENCY CONTRACT OPTIONS

Your selection of any of the following programs does not need to occur until just before scheduling your move to The Glenridge on Palmer Ranch.

Life Care I & II Residency Contracts

Both Life Care I & Life Care II include long-term health care services in all private accommodations. Members will have a choice as to the degree that health care is built into their monthly fee if long-term care is ever needed in either private assisted living apartments in The Highlands or health and rehabilitation services in The Carroll Center. In some cases, the monthly fee may actually be reduced depending on the size of your original Residence. At The Glenridge, health care services range from assisted living in a private one-bedroom apartment to an extended stay in The Carroll Center. Under the Life Care I & II Contracts, there are three entrance fee refund plans from which to choose.

95% Refund Plan
This entrance fee plan (listed on Fee Schedule 1) provides the assurance that a minimum of 95% of the entrance fee will always be refundable to you or your estate no matter how many years you reside at The Glenridge. Your entrance fee is 96% refundable during the first five months of residency and remains 95% refundable thereafter. This plan also provides the full Life Care benefits in private accommodations. The selection of this contract is subject to age limitations, so please consult with a Glenridge representative.

50% Refund Plan
For a reduction of approximately 17.4% less than the entrance fee for the 95% Refund Plan, this plan (see Fee Schedule 2) provides the assurance that a minimum of 50% of your entrance fee will always be refundable to you and your estate, no matter how many years you reside at The Glenridge. Your refundable portion is 96% at any time during the first five months of residency, then declines at 1% per month of residency thereafter until reaching the 50% minimum refund. The selection of this contract is subject to age limitations, so please consult with a Glenridge representative.

HEALTH RESERVE RESIDENCY CONTRACT

For the same entrance fee as the Life Care Contract (see Fee Schedule 3, 20% Refund Plan), this contract offers a higher (40%) minimum refund for those willing to accept the higher cost of future health and rehabilitation services in The Carroll Center at a reduced savings rate of only 20% less than the then-current market rates. Under the Health Reserve Contract, you will have the option of paying for future care directly or charging such care against your 40% refundable portion. Your entrance fee would be 96% refundable at any time during the first five months of residency and would then decline at 1% per month of residency thereafter until reaching the 40% minimum refund (as long as no health and rehabilitation services are charged against this reserve account). This plan is offered in response to those who may currently hold an extensive long-term care insurance policy or can afford to underwrite the higher cost of long-term care themselves.

CONVERTIBLE RESIDENCY CONTRACT
The Convertible Residency Contract will be available according to the following guidelines. The Monthly Fee for a single person can be reduced by $300.00 and for couples by $450.00 until age 80 of the first person, as long as you are willing to cover any health and rehabilitation services needed prior to age 80 at a reduced savings rate of only 20% less than the then-current market rate. Upon the first person reaching age 80, the Monthly Fee reduction will cease and any health and rehabilitation services from that point on will be provided at a more significant Life Care saving rate. Once this option is selected, there will be no opportunity to switch to the full Life Care program until age 80. The Convertible Residency Contract also offers 20%, 50% and 95% Refund Plans.

Please ask a Glenridge representative for complete details on each of the Residency Contracts described above.

THE GLENRIDGE ON PALMER RANCH
7333 Scotland Way  •  Sarasota, Florida 34238
941-552-5300  •  888-999-GLEN (4536) toll-free
info@theglenridge.com

The Glenridge on Palmer Ranch is owned and operated by a not-for-profit corporation organized by a local Board of Directors (The Glenridge on Palmer Ranch, Inc.). Florida State Statute chapter 651 governs communities that offer Life Care contracts in the State of Florida.