PUERTO AVENTURAS

MOVING FORWARD TO 2021

STATE OF AFFILIATIONS

APPLICATION OF FEES TODAY

For the last couple of years, affiliations and payment of fees has been divided between Colonos and PA Covenant A.C. According to this, each Association is counting on a partial budget to be applied on specific areas. Keeping Puerto Aventuras functioning today depends on a rather complicated formula where separate efforts add and compliment to make it work. Colonos picks up brush and handles security within the Resort, PA Covenant A.C. handles security and access at main gate, manages PA Passport and affiliations and the Developer coordinates all basic services, watches over beach, builds new infrastructure and attractions and handles government relations.

Today, PA Covenant A.C. coordinates main access operation with a deficit since affiliations are not enough to cover cost of operation making it necessary for Developer to cover the difference. As affiliations increase, PA Covenant A.C. will first cover full cost of main access to later expand on to other areas of service that today are under administration of Colonos or the Developer.

TRANSITION FROM COLONOS TO COVENANT:

PA Covenant A.C. is promoting new affiliations with prior resignation to Colonos. As affiliations increase in number and amount, PA Covenant A.C. expands administration of areas with the Resort. There is no risk to owners resigning from Colonos since PA Covenant A.C. is now the official Association assigned by the Legal Representative of Puerto before Authorities.

Respecting budget approved by Owners at Colonos Assembly, PA Covenant A.C. collects same amounts based on established fees making sure there is continuity from last payment to Colonos to first payment to PA Covenant A.C. According to this, past payments to either Association will be considered paid to Puerto Aventuras and respected for present and future relations. Owner’s rights will be covered at all times by the Association to which affiliated.

In regards to Property Titles to be obtained or transferred by sale, it is the Developer who approves the operation with the Trust and Public Registry and it will be PA Covenant A.C. who has faculty to extend no debt certification.