What happens after Application.LoadLevel() ?

So, after I complete level one, the game will switch to the next scene. What is going to happen then? I mean I reuse the same gameobjects, will they be “reinstantiated”, or will they keep some of their attribute values? Will it perform a Start() again, or does it just continue with Update() ?

“When loading a new level all game objects that have been loaded before are destroyed. If you want to let an object survive when loading a new level, use Object.DontDestroyOnLoad. Calling LoadLevel will update Application.loadedLevel and Application.loadedLevelName.”

No the objects will not retain the attribute values, if you want to do this look at: