POST 81 : COVENANT ASSEMBLY SUMMARY

FROM COVENANT:

COVENANT ASSEMBLY

30TH NOV 2019

SUMMARY

  • Fideicomiso Puerto Aventuras as Developer is the only legal representative before government authorities.

  • Two party collaboration agreement was signed between Municipality and Developer.

  • Basic principles of Puerto Aventuras will be guaranteed by Developer under assignment with Association.

  • Puerto Aventuras was born and bought as a Private Residential Resort and will remain so.

  • Developer assigned operation and administration of resort to PA Covenant Association.

  • Covenant will operate Resort and be cancelled to fuse into Colonos when new Board of Directors accept and guarantee our principles.

  • The Developer creates and builds / The Association administrates and operates.

  • Municipalization can only be done by request of the Developer.     Municipalization will not take place.

  • Main Access Control and Security will remain under Developer to be passed on to Association under new Board of Directors.

  • PA Passport will be the only official identification and access control for Owners, Residents and Authorized Visitors.

  • Fees paid to Covenant or Colonos will be recognized as continuous by standing Association in the future.

  • All basic services today are being operated by Developer through Covenant.