Hello future neighbor.
Although I am not the biggest fan of rules, regulations or paperwork, I do believe that some things are better to have in writing up front as to avoid problems in the future.  As a part of any well planned development, I believe most people will agree that covenants and restrictions are necessary and beneficial to all. 
These covenants, land use restrictions and nominal fees established herein are based on a desire to preserve the tranquil private setting, maintain a commitment to ecologically sound practices, promote an excellent quality of life for residents and their guests, maintain peaceful enjoyment of the land, maintain the property in exceptional condition, maintain property values, set a neighborhood standard and provide the special services required due to our location here in Ojo de Agua, Panama.

The goal of this community is to attract people who want to enjoy a laid back lifestyle committed to harmony with nature and with each other in a private low density residential community.

 

DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS

 

The DECLARANT, Panama Blue Investments, Inc. hereby declares that all of the Parcels and Common Areas, as defined below, shall be held, sold, and/or conveyed subject to the following easements, restrictions, stipulations, covenants, and conditions, which shall run with, the real property and be binding on all parties having any right, title or interest in the described Parcels and Common Areas or any part thereof, their heirs, successors, and assigns, and shall inure to the benefit of each OWNER thereof.  The following easements, restrictions, stipulations, covenants, and conditions shall be inscribed into each individual deed and registered in the Public Registry of Panama.

 

TABLE OF CONTENTS

 

I           DEFINITIONS

1. DECLARANT
2. OWNER(s)
3. PARCEL(s) or PROPERTY(s)
4. COMMON AREA(s) and / or CONSERVATION AREA(s)
5. COMMUNITY
6. ASSOCIATION or COMMUNITY OWNERS ASSOCIATION

II          DECLARATIONS, RESTRICTIONS, RULES, REGULATIONS AND CONDITIONS

1. ACTS OF GOD
2. PARCEL SEGREGATION
3. COMMERCIAL AND BUSINESS USAGE
4. BUILDING RESTRICTIONS FOR PARCELS
5. SWIMMING POOLS
6. EXCAVATION
7. TEMPORARY BUILDINGS
8. RESTORATION OF PARCELS
9. FENCES
10. LANDSCAPING
11. PARCEL MAINTENANCE (VEGETATION)
12. NUISANCE
13. PETS
14. SIGNS
15. EXTERIOR COMMUNICATION DEVICES
16. EXTERIOR LIGHTING
17. HUNTING
18. WATER POLLUTION
19. TRASH DISPOSAL
20. WATER SUPPLY

21. WATER RESERVES

 

III        GRANT AND RESERVATION OF EASEMENTS

1. UTILITIES
2. SECURITY
3. CONSTRUCTION EASEMENT
4. FUTURE EASEMENTS
5. DRAINAGE

IV        ANNUAL ASSESSMENTS

1. CREATION OF LIEN AND PERSONAL OBLIGATION OF ASSESSMENTS
2. PURPOSE OF ASSESSMENTS
3. SPECIAL ASSESSMENTS FOR CAPITAL IMPROVEMENTS

V         COMMUNITY OWNERS ASSOCIATION CREATION

APPENDIX 

EXHIBIT A: GENERAL PROJECT PLAN [document forthcoming]

 

I           DEFINITIONS

 

1. DECLARANT
Within this document DECLARANT shall mean and refer to Panama Blue Investments, Inc. a Panamanian Corporation, its successors and assigns if any.

2. OWNER
Within this document OWNER shall mean and refer to the record Owner, whether one or more persons or entities, of title under Panamanian law to any Parcel which is part of the Properties, including contract sellers, but excluding those having such interest merely as security for the performance of an obligation.  Owner shall also be deemed to include the Owners family, the Owners guests, or the Owners tenants.

3. PARCEL(s) or PROPERTY(s)
Within this document PARCEL(s) or PROPERTY(s) means and refers to any numbered plot of land sold or to be sold by DECLARANT shown in general plan, Exhibit A.

4. COMMON AREA(s) and/or CONSERVATION AREA(s)
Within this document COMMON AREA(s) and/or CONSERVATION AREA(s) means and refers to any numbered plot of land to be preserved by DECLARANT for common use by PARCEL OWNERS and/or natural buffer zones or green spaces to help maintain a private setting within the community and all deeded access roads or drives shown in general plan, Exhibit A.

5. COMMUNITY
Within this document COMMUNITY means and refers to any numbered plot of land to be sold by DECLARANT or any numbered plot of land to be preserved by DECLARANT for common use by PARCEL OWNERS shown in general plan,
Exhibit A.

6. ASSOCIATION or COMMUNITY OWNERS ASSOCIATION
Within this document ASSOCIATION or COMMUNITY OWNERS ASSOCIATION refers to the future community owners association consisting of the individual parcel owners of the numbered plots of land shown in general plan, Exhibit A.

 

II.         DECLARATIONS, RESTRICTIONS, RULES, REGULATIONS AND CONDITIONS

 

1. ACTS OF GOD
The DECLARANT is not in any way responsible for any type of damages due to natural unfortunate occurrences or accidents such as; earthquakes, floods, volcanic activity, mudslides, plagues, animal attacks, or vandalism that may adversely affect any parcel or owner within the community.

2. PARCEL SEGREGATION
PARCELS may not be segregated for resale in any manner what so ever.

3. COMMERCIAL AND BUSINESS USAGE
PARCELS shall not be used for any commercial or business purposes, except that OWNERS may choose to have a home office in which their customers contact them electronically, and/or a lodging facility with an eight (8) person maximum for each
PARCEL.

4. BUILDING RESTRICTIONS FOR PARCELS
A maximum of four (4) individual buildings or structures are allowed per parcel with a maximum of a foundation floor and two (2) other floors or levels allowed for one (1) building/structure only, a foundation floor and one (1) other floor or level for one (1) building only and other remaining two (2) buildings/structures are only allowed a foundation floor.

5. SWIMMING POOLS
A maximum of two (2) swimming pools are allowed on each individual parcel.  The maximum combined water capacity of all swimming pools on each individual parcel is not to exceed 15,000 U.S. gallons.  To minimize stress to the water system source or natural aquifer, OWNER(s) are encouraged to use common sense when draining and refilling swimming pools and only drain and refill when absolutely necessary, avoid refilling during the last months of the dry season (verano) and drain in a manner to recycle drained water to use as irrigation source for landscaping purposes.

6. EXCAVATION
Elevation or topography changes shall not be allowed on a PARCEL that may adversely affect the drainage on the PARCEL or an adjoining PARCEL or property. In the following order; DECLARANT, OWNERS ASSOCIATION, or other PARCEL OWNER(s) within COMMUNITY have first right of refusal to use excess excavated material suitable for road maintenance or fill before it is to be hauled away from community.  No material disturbed during any type of excavation is to be purposely, pushed, dumped or stored in any quebrada. 

7. TEMPORARY BUILDINGS
Tents or other temporary buildings shall be constructed and maintained for construction purposes only. Such temporary structures shall be removed within thirty (30) days after construction is completed.

8. RESTORATION OF PARCELS
Upon completion of any construction on a PARCEL, construction debris shall be removed and disposed of in an ecologically sound manner and the PARCEL shall be restored to a presentable condition within thirty (30) days following completion of
construction.

9. FENCES
The only fences allowed within Parcels are those already established living fences (traditional fences constructed with barbed wire attached to living trees maintained in their natural state, as to keep livestock from neighboring farms from entering Parcels) on outer perimeters of Parcels, that is, those bordering properties that are not included within those sold by DECLARANT and each parcel may contain a fenced in area of no more than twenty (20) percent of said property. 

10. LANDSCAPING
The preservation of existing trees and other site foliage shall be a priority for all OWNERS and DECLARANT.  A planned natural look emphasizing native plants and ground cover is strongly encouraged. OWNERS must maintain a minimum of seventy
(70) percent of their PARCELS covered with trees. 

11. PARCEL MAINTENANCE (VEGETATION)
PARCEL maintenance (vegetation) shall be the responsibility of individual OWNERS.

12. NUISANCE
Noxious or offensive trade or activity shall not be allowed on a PARCEL or on the Common Areas. Nothing shall be performed thereon which may be or may become an annoyance or nuisance to other OWNERS and/or guests including, without limitation,
noxious fumes, smoke, fireworks, excessive or continuing loud noises, interference with radio or television reception, and excessive draining of water or other effluents onto any adjoining PARCEL or onto the Common Areas.

13. PETS
Hoofed animals or exotic (non-indigenous) pets shall not be allowed on the PARCELS. Animals shall not be raised, bred, or kept for commercial purposes on the PARCELS. Birds, monkeys and/or reptiles shall not be kept on the PARCELS as pets. An OWNER shall not possess more than three (4) pets either cats and/or dogs per PARCEL.  OWNERS shall promptly remove and properly dispose of all animal waste, particularly on Common Areas.

14. SIGNS
Advertising signs, billboards, or similar objects shall not be erected, placed or allowed to remain on the PARCELS except for the following: (1) one sign per PARCEL, displayed only at the front of each PARCEL, of no more than six (6) square feet in area advertising that the PARCEL is for sale or for rent and/or the name of the OWNER or OWNERS respective business. (2) DECLARANT or ASSOCIATION agree to design and maintain, as a service for those OWNERS who wish to direct potential visitors to there PARCEL, small, uniform, aesthetically pleasing, written letters only, directional signs strategically located at the community entrance or potentially confusing turns along the community road.

15. EXTERIOR COMMUNICATION DEVICES
Exterior television antennas, radio antennas, satellite dishes, or similar items shall not intrude on the natural views or OWNERS pleasant enjoyment of the land, nor shall any PARCEL be used as a rental property for the permanent station/site of a commercial communication device.

16. EXTERIOR LIGHTING
Exterior lighting shall be considered light pollution and should be minimized and maintained to provide illumination as is necessary only for the PARCEL on which it is installed.

17. HUNTING
The hunting, trapping or abuse of any animal, bird, or reptile shall not be allowed on the PARCELS, in any common area or any adjoining property.

18. WATER POLLUTION
Sewage, grey water, litter, debris, chemicals or hazardous wastes shall not be placed, or be caused to be placed in the drainage ditches, quebradas or common areas.

19. TRASH DISPOSAL
Trash items brought to The PARCELS or any common area shall be the sole responsibility of the end user. PARCELS shall not be used or maintained as a dumping ground for trash. Individual OWNERS are prohibited from establishing inorganic waste landfills on any PARCELS or common areas.  There shall be no burning of inorganic waste on any PARCEL or community area and disposal of said waste shall be the sole responsibility of OWNER.  The DECLARANT will gladly advise OWNERS as to where the nearest municipal landfills are located.

20. WATER SUPPLY
Water supply shall be the responsibility of the DECLARANT or ASSOCIATION.  The well, pumps, electrical relay boxes, PVC water supply lines, valves, tanks and all other accompanying water system related mechanisms will be property of either DECLARANT or ASSOCIATION.  DECLARANT will manage water system as a service to parcel owners until creation of community association, at which time association will take over ultimate control and management of water system.

21. WATER RESERVES

OWNERS are obligated to maintain a minimum of 1000 gallons reserve potable water storage capacity for each parcel owned.  Aforementioned water reserve must be installed and in working order by completion of any type of habitable structure on said parcel. 

 

III.       GRANT AND RESERVATION OF EASEMENTS

 

The DECLARANT reserves for itself, its successors and assigns, and for the future Community Association, the following perpetual easements:

1. UTILITIES
Easements, for ingress, egress, installation, replacement, repair, and maintenance of all public and private utilities and conveniences, upon all Common Areas, and eight feet in width throughout each PARCEL only where a utility service may cross through or over a property. 

2. SECURITY
A blanket easement throughout the PARCELS for any security services that may be provided.

3. CONSTRUCTION EASEMENT
An exclusive easement is hereby reserved for the benefit of DECLARANT, its agents, employees, successors and assigns, for the purposes of construction on any PARCEL.

4. FUTURE EASEMENTS
Declarant reserves the right to impose further restrictions and to grant or dedicate easements on any PARCEL within the Property if same would enhance the value or desirability of the Properties.

5. DRAINAGE
A blanket easement throughout the PARCELS and Common Areas for the drainage of rain and other surface water.

 

IV.       ANNUAL ASSESSMENTS

 

The initial Annual Assessment is $300.00 per PARCEL.  The first Annual Assessment is due and payable at closing, every following Annual Assessment payment is due by January 31. The Annual Assessment shall be adjusted yearly by the DECLARANT or ASSOCIATION based on current costs of providing services as approved by the DECLARANT or ASSOCIATION but, DECLARANT may not increase annual assessment by more than 10% above the maximum assessment for the previous year, exclusive of reserves.

1. CREATION OF LIEN AND PERSONAL OBLIGATION OF ASSESSMENTS
The DECLARANT for each PARCEL within the PROPERTIES, hereby covenants as provided for herein, and each OWNER by acceptance of a deed there for, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the DECLARANT or ASSOCIATION: (1) annual assessments; (2) special assessments for capital improvements as may be approved by the DECLARANT or ASSOCIATION, as described herein. Annual assessments and special assessments, together with all interest, costs, and reasonable attorney’s fees and expenses, shall be a charge on the land and shall be a continuing lien upon the PARCEL against which each such assessment or fee is made. Each such assessment or fee, together with all interest, costs, and reasonable attorney’s fees and expenses, shall also be the personal obligation of the person who was the OWNER of the PARCEL at the time when the assessment fell due or the fee was incurred. The personal obligation for delinquent assessments and fees shall not pass to an OWNER’S successors in title unless expressly assumed by the successors, although such obligation shall remain a lien against the PARCEL.

2. PURPOSE OF ASSESSMENTS
The assessments levied by the DECLARANT or ASSOCIATION shall be used exclusively to promote the health, safety, and welfare of the residents of the PARCELS, to improve and maintain the COMMON and CONSERVATION AREAS, to maintain the condition and integrity of the environment in and around the PARCELS, to improve and maintain the community road, to improve and maintain the living fences and other purposes as may be approved by the DECLARANT or ASSOCIATION in its reasonable discretion.

3. SPECIAL ASSESSMENTS FOR CAPITAL IMPROVEMENTS: In addition to the annual assessments authorized above, the DECLARANT or ASSOCIATION may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of construction, reconstruction, repair, or replacement of a capital improvement on the Common Areas including the community roads or drives.

 

V.        COMMUNITY OWNERS ASSOCIATION CREATION

 

PARCEL OWNERS agree and understand that they are obligated to form a COMMUNITY OWNERS ASSOCIATION created to relieve DECLARANT of  community management duties, collect and set annual assessments, and maintain; utilities, easements, roads, drives, landscaping, conservation areas, common areas, drainage systems and the like at which time DECLARANT decides he/she no longer has the ability to manage duties or when all PARCELS shown in Exhibit A have been transferred from DECLARANT to new PARCEL OWNERS and registered in Public Registry of Panama. 

Voting Rights within Association: Each Owner of a Parcel within the COMMUNITY shall have membership in the Association.  Membership shall be appurtenant to and may not be separated from the parcel.  Each parcel owner, including DECLARANT, shall be titled to one vote for each habitable parcel owned.  Any DECLARANT or COMMUNITY ASSOCIATION owned common or conservation areas are not included as a Parcel with Voting Rights within the COMMUNITY ASSOCIATION.