THIS DECLARATION made by Piedras Properties Inc.
(hereinafter called Declarant)
WITNESSETH:
WHEREAS, Declarant is the owner of 26 acres located in the area of Salinas Grandes, in the department of Leon, in the State of Leon, Nicaragua, Central America, as shown on three surveys AND Tamarindo Beach & Ocean Estates is made up of Single Family Building Lots numbered from #1 to #95, Townhomes, Casita Lodging, Fishing Lodge, Marina and Amenity Buildings (hereinafter called “Subdivision”). Declarant desires to preserve the natural environment and amenities of the Subdivision, and to provide for maintenance and convenience of its residents, and to this end desires to subject the Subdivision to the covenants, restrictions, easements, charges and liens hereinafter set forth, each and all of which are for the benefit of said property and for each owner thereof and shall inure to the benefit of and pass with said property, and each and every parcel thereof, and shall apply to and bind the successors in interests of any owner thereof.
NOW THEREFORE, Declarant declares that the real property including all Single Family Lots in Tamarindo Beach & Ocean Estates is and shall be held, transferred, sold, conveyed and occupied subject to the covenants, restrictions easements, charges and liens (sometimes herein referred to as “Covenants”) hereinafter set forth.
After a certain percentage of the Subdivision has been sold, the activities, responsibilities, and rights of the Declarant may be assumed by a group of three (3) lot owners, who are elected for an annual term by a majority of all lot owners in Tamarindo Beach & Ocean Estates. This 3 person group is know as the Home Owners Association (hereinafter called “HOA”). It is the HOA’s role to consider and act upon proposals submitted to it and perform other duties included in these covenants.
Section 101 All lots in Subdivision shall be used exclusively for residential purposes, except for other uses as shown on the master plan, or described in these covenants. No dwelling erected or maintained within the subdivision on a Single Family Lot shall be used or occupied for any purposes other than for single-family dwelling. With the exception of Fishing Lodge, Casita Lodging and Section #149 (shops), no businesses, profession or other activity except rental, conducted for gain shall be carried on or within any lot. No Lot can be subdivided unless approved by Declarant.
Section 102
No structure shall be erected within the Subdivision except single family dwellings, and those accessory structures which have been approved by Declarant. No accessory building, no trailer tent or other similar temporary quarters may be used for living purposes. No other structure may be placed on any building site before completion of the dwelling upon such building site except with the written permission of Declarant.
Section 103
All construction shall be new. No building previously used at another location, nor any building or structure originally constructed as a mobile dwelling, or structure may be moved onto a lot or building site except as expressly provided for in section 108.
Section 107
The exterior of the primary building on Lot must be commenced within five (5) years from the contract purchase date of the Lot from Declarant. The Owner will face sanctions, which may include forced Lot sale, if this is not adhered to. Subsequent resale of the Lot will not effect the five (5) year construction start covenant. Building completion must be within eighteen (18) months after the construction commencement except where such completion is impossible or would result in great hardship due to strikes, fires, national emergency or natural calamities. If not so completed, or if construction ceases for a period of one hundred twenty (120) days, the unfinished structure or unfinished portion thereof shall be deemed a nuisance and may be removed by Declarant at the cost of the Owner.
Section 109
There are rights hereby reserved to Declarant, its successors and assigns. These rights are perpetual, alienable, divisible and releasable easements and the right from time to time to grant such easements to others over, under in and across land in Subdivision. Each of the five (5’) foot strips along and adjoining the side boundary lines of each lot and each of the ten (10’) foot strips along and Adjoining the rear and front (line along street) of each lot are for electric, telephone, water, sewer, and television lines.
Section 111
Each marina slip owner and the Fishing lodge operator, shall have the use and enjoyment of the Common Areas, Private Roads, Beach, Pool and any other common facilities. Each Owner hereby covenants and agrees to pay a pro-rata share of the costs and expenses of maintaining said common area, and costs shall be divided equally on a per unit basis, between the Lot Owners, Business owners, Fishing Lodge owner (2 units) and Marina Slip owners, and any other parties as deemed by Declarant.
Section 112
The Declarant shall install electric distribution lines, water lines, and construct access roads to be paid for by the Declarant for the use and benefit of the lot owners. Water will be metered to the users and paid for by the users based on the amount of water used. Electric service will be metered and billed by Union Fonesco, the Nicaraguan utility.
Section 113
Water is generally, in short supply on the Island and therefore, each Single Family will be required to construct a water collection cistern with a minimum size to hold 5,000 gallons, and the cistern shall be connected to the downspouts and gutters, to collect rainwater from the roof.
Section 114
Each Owner will be required to pay Five Hundred Dollars ($500) at time of water hookup to the Subdivision water system.
Section 115
Each Owner will be required to pay a sewer hookup fee of Twelve Hundred Dollars ($1200) at the time of sewer hookup. A fee of one hundred Dollars ($100) annually will be assessed per lot to pay the cost of running and maintaining the sewer treatment system. Major repairs or replacement may require a special assessment. The same bill and non payment provisions will apply as in Section 143.
Section 116
No more than one dwelling and guest house shall be erected and maintained within any building site or lot. However, nothing herein shall prevent the erection and maintenance of one dwelling on a combination of lots.
Section 117
Except with Declarants approval no building, porch, eaves, overhang, projection or other part of a building shall be located within:
The federal government prohibits constructing within One Hundred (100) feet from the high tide line of the ocean, which is 20 to 50 feet from the beach property line depending upon season. Covenants restrict building within ten (10) feet from the rear lot lines. For the river lots #63 to #95, the road setback is three (3) feet and the rear setback from Mangroves is as directed by MARENA, the Nicaraguan environmental agency. Approval to build in the front, side, or rear line setback may be given only (a) for eaves and overhangs or (b) for construction extending less than five (5) feet into the setback areas which Declarant determines to be required by the lot shape, and consistent with superior design. The beach reserve adjoining the ocean can not be built on, contain any permanent structures or be fenced. This beach reserve shall be for the common use and enjoyment of all the owners.
Section 120
Architectural standards are established to the end that the Subdivision may benefit from the natural advantages of its particular location. The standards for architecture shall be typical Island style design, concrete and stucco and wood exteriors or a combination, painted with coloring typical of the Tropics and colors shall be approved by Declarant.
Section 126
Any accessory building or structure shall harmonize in appearance with the dwelling situated on
the same lot and conform to the design, style and appearance established by the plans for the area established by the Declarant.
Section 130
There shall be a minimum of two (2) off-street parking spaces on each lot and no overnight parking will be allowed on the street.
Section 132
Each owner shall prevent the accumulation of any unclean, unsightly or un-kept conditions of buildings or grounds on such lots which shall tend to substantially decrease the beauty of the neighborhood as a whole or in the specific area.
Section 135
No ashes, trash, rubbish, garbage, grass or shrub clippings, scrap material, or other refuse, or receptacles or containers thereof, shall be stored, accumulated or deposited outside or so as to be visible from any neighboring property or street, except during refuse collection.
Section 136
No noxious or offensive activity shall be carried on upon any lot, nor anything done thereon tending to cause embarrassment, discomfort, annoyance or nuisance to the neighborhood. No offensive or hazardous activities may be carried on any lot or in any living unit. No illegal plants will be grown. No annoying lights, sound or odors shall be permitted to emanate from any living unit.
Section 137
Satellite dishes shall be adequately screened so as not to be visible at ground level from any neighboring property or street. No horns, bells or other sound devices except security devices used exclusively for security purposes shall be located, used or placed on any structure within any building site.
Section 138
All yards and open spaces and the entire area of lot on which no building has been constructed, shall be kept free from plants or weeds infected with noxious insects or plant disease, and from weeds which in the opinion of HOA are likely to cause the spread of infection or weeds to neighboring property, and free from bush, or other growth, or trash which in the opinion of Declarant causes undue danger of fire. No living tree having a height of 3 meters or more and having a trunk measuring 20 centimeters at ground level shall be destroyed or removed from any Lot, unless approved by Declarant. At such time as construction begins a trash containment area will be provided, properly used and maintained.
Section 140
No animal of any kind shall be permitted which in the opinion of the Declarant makes an unreasonable amount of noise, odor or nuisance.
Section 141
Any boat or trailer must be screened from view or kept in an enclosed structure, so as not to be visible at ground level from neighboring property or street. No stripped down, partially wrecked, or junk motor vehicle/boat or sizable part thereof, shall be permitted to be parked on any street or any lot in such manner as to be visible at ground level from any neighboring property or street.
Section 144
An annual maintenance fee will be put into effect January 2007 and said fee will be $1000, per year for each lot, each commercial building, and each Marina Slip. The fee can be increased by the HOA so as to be sufficient to cover all maintenance costs. Funds remaining after all expenses have been paid at the end of the year, shall be used for the coming years expenses, or the HOA may reduce the annual billing for one year only if the HOA determines that the excess plus the coming years, plus a reasonable reserve is not projected to be needed for expenses. The fee will provide for the maintenance of the private roads, the beach and any common areas of facilities including, but not limited to, parks, open space, water ways, piers, canals, swimming pools, tennis courts, drainage facilities, retaining walls, security walls, gates, landscaping. Each lot, each Commercial Building, Marina Slip owner and the Fishing Lodge will be billed the assessment by January 1st, and if the fee is not paid within 40 days of the billing date a rebilling charge of $50 dollars will be assessed plus a ten percent (10%) late charge. If the assessment is not paid within ninety (90) days of the billing, a lien will be placed on the owner’s lot, and the guests will not be permitted to use the common areas and facilities. The lot owner or business owner will be charged for all costs and attorney fees. Water and electric for street lights and common grounds will be billed quarterly at actual cost. It is the intent of this agreement that the management company cover its out-of-the-pocket, direct costs, and overhead.
Section 146
Matters which require the approval of Declarant prior to construction, alteration or installation include but are not limited to: the exterior appearance, material, color, height, location of each structure, drive, walk and fence, grading site, site lighting, signage, tree demolition and location, size and type of any landscape material including grass, ground cover, shrubs and trees.
Section 147
The government restricts the number of piers and therefore individual piers will not be allowed. The developer will build piers for residents use as swimming, boat docking and storage.
Section 148
Declarant has a system to supply water to each lot which will be metered and billed monthly. Individual wells will not be allowed.
Section 149
At Declarant’s option, the river lots #74 to #89 may be designated as low impact, residential style cluster of small buildings for shops, offices and business uses.
Section 154
These covenants shall run with the land and shall inure to and be binding on each lot and upon each person or entity hereafter acquiring ownership or any right, title and interest in any lot in the Subdivision.
Section 159
These covenants may be amended or terminated with a vote of three-fourths (3/4) majority of the lot Owners.
IN WITNESS WHEREOF,________________________, the Owner of lot #____ agrees to this declaration this _____ day of___________, 200___ . This document will be legally registered with the Property Registration Department of the Leon municipal government, in the city of Leon, in the State of Leon, Nicaragua.
_____________________________________________________
Owner
Note: This is a shortened version of the actual covenant document. To get a full version, contact:
Mr. Geoff S. Bramwell
Director of Sales & Logistics
geoff@nicaprojects.com
Telephone: 1.888.311.8555 x3 or 1.604.255.8555 x3
Fax: 1.604.253.0034
Mobile: 1.604.720.4484 (Van) or 1.505.648.2971 (Managua)