Palm Grove Partnership – Expiry Date Amendment

The Senior Trust Retirement Village Listed Fund ("the Fund"), is currently the second mortgage funder to Palm Grove Partnership ("the Borrower"). With a bank providing first mortgage funding, all subject to the statutory supervisor's first ranking encumbrance. The Borrower is developing 'The Grove', a boutique retirement village located in Orewa, Auckland. The Manager has reached an agreement with the Borrower to vary the current agreement. The Manager intends to undertake a variation to the loan agreement to amend the expiry date of the facility. The current expiry date of 30 November 2019 will be amended to 30 November 2020. Please refer to the attachment for further details. End CA:00344957 For:SRF Type:GENERAL Time:2019-11-26 14:40:03