Page 17 - Estate Planning Documents

ii) This clause together with all of the preceding clauses of this Schedule shall
apply to the Main Residence (or if applicable, the Substituted Residence); but
b) Makes an election under the clause headed “Discretionary Power to limit Life Interest”
in this Schedule:
i) The Main Residence Life Tenant shall only have an express personal right to
reside in the Main Residence (and any Substituted Residence) during the Main
Residence Term and which shall come to an end at the expiration of the Main
Residence Term; and
ii) Only this clause shall be operative in respect of the Main Residence (or if
applicable, the Substituted Residence).

25.2 In respect of the Main Residence:
a) The Main Residence shall not be sold without the personal written consent of the
Main Residence Life Tenant or their Legal Personal Representative, until My Executor
is of the opinion that the Main Residence Life Tenant has ceased permanently living
in the Main Residence; and
b) If the Main Residence Life Tenant or their Legal Personal Representative requests in
writing that the Main Residence is to be sold, My Executor shall sell the property and
apply the proceeds of the property (“the Proceeds of Sale”) to the purchase and
acquisition or other costs of another property My Executor may purchase in direct
substitution, with the consent of the Main Residence Life Tenant (“the Substituted
Residence”).

25.3 Where a property is sold under the preceding subclause:
a) My Executor, in acquiring or purchasing a Substituted Residence, may only use a
maximum of the Proceeds of Sale to acquire any Substituted Residence;
b) Where a Substituted Residence is purchased resulting in the co-ownership of the
property with My Estate, My Estate shall only be liable for any acquisition costs
(including State or Territory duty) in proportion to My Estate’s interest in the
Substituted Property; and
c) If there are any funds remaining after the Proceeds of Sale are applied to purchase or
acquire a Substituted Residence (“Excess Proceeds”), such Excess Proceeds shall form
part of the Residual Estate and be dealt with under the clause headed “Esther, Sonny
and Brock to receive benefit of Residual Estate” in the Main Provisions of My Will.

25.4 If a Substituted Residence is purchased by My Executor in accordance with the preceding
subclause, the provisions of this Schedule shall apply to the Substituted Residence in the same
manner as they originally applied to the Main Residence, save for the requirement that the
words “Main Residence” shall be substituted with the words “Substituted Residence”.

25.5 For the purposes of this clause:
a) A “Substituted Residence” shall include (but not be limited to):
i) An interest in freehold or leasehold land; and
ii) Acquisition of rights in respect of the Main Residence Life Tenant’s residency
in a retirement village or residential care facility; and

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