Love which exists in peaceful place (5)
I believe the answer is:
oasis
'peaceful place' is the definition.
'oasis' can be an answer for 'place' (I have seen 'Place of refreshment ' mean 'oasis' so perhaps 'place' could also mean 'oasis'). I am not sure about the 'peaceful' bit.
'love which exists' is the wordplay.
'love' becomes 'o' (In tennis, 'love' means 'zero').
'which' becomes 'as' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'exists' becomes 'is' ('be' can be a synonym of 'exist').
'o'+'as'+'is'='OASIS'
'in' is the link.
Can you help me to learn more?
(Other definitions for oasis that I've seen before include "English rock group in the desert" , "Peaceful area away from trouble" , "source of water" , "Fertile place in a desert, a watering hole" , "water you'll want here" .)