Plantation Acres Costa Rica A Private Residential Community Annex I VII Frequently Asked Questions and General Information Annex 1) GENERAL INFORMATION. 1.1. How large is Plantation Acres? The project is an eco-residential resort community consisting of 100 acres of both tropical and forest land, divided into 47 estate-sized lots. There are 31 ocean view lots and 16 with a forest view, each with a minimum of 5000 square meters (1.25 acres). 1.2. Does Plantation Acres have security? Is it safe? Absolutely. Plantation Acres is a private, gated community with 24 hour manned security to insure your privacy and safety, includes a guard house. 1.3. Does Plantation Acres have beach access? Plantation Acres is only minutes from Punta Leona beaches (Playa Blanca and Playa Mantas). Playa Agujas is also close by, which is convenient for morning walks. The most prestigious boating marina, Los Sueños, is only ten minutes distance from the property. Additionally, there are several beautiful beaches within a 10 to 15 minute drive such as Playa Jaco, Herradura, and Hermosa a well known surfing area. 1.4. Is there shopping close to Plantation Acres? Herradura, which is only 10 minutes away, offers a shopping plaza featuring Auto Mercado (a super market where you can find most of the items sold in U.S. stores), fine restaurants, furniture stores and much, much, more Jaco also offers large supermarkets and convenience stores. 1.5. How close is the nearest medical facility? Jaco offers excellent doctors at the Clinica Santa Catalina, which is open 24 hours. In case of emergency, Cima Hospital has U.S. equivalent facilities with numerous outpatient services and is located only 1 ½ hours from Plantation Acres. 1.6. What is the closest airport to Plantation Acres? All private and commercial aircrafts are required to clear Customs and Immigration in one of the two international airports: Juan Santamaría International Airport in San Jose, or Daniel Oduber International Airport in Liberia.
1.7. Are pets allowed at Plantation Acres? Pets are allowed as long as they are contained within your property and pose no threat or nuisance to other residents. It is a relatively easy process to bring a pet into Costa Rica. For further information, contact your airline of travel. 1.8. Where does the water at Plantation Acres come from? Is it included with the monthly maintenance fee? The water at Plantation Acres comes from the city water lines of Quebrado Ganado. You may wish to build a private water system on your home site. Plantation Acres Estates with provide clear fresh water accessibility to your property for a monthly fee of $30.00 U.S. Annex 2) HOME SITES. 2.1. How much are home sites? Our forest, ocean and panoramic view home sites are a minimum of 5000 square meters. Purchase prices start from $30 U.S. per square meter, or $150,000. Bank financing is available upon purchase request to both residents and non residents. Private financing is available from the developer with 25% down payment and 10% interest for 5 years. 2.2 Do I have to use Plantation Acres architects or may I use my own architects and plans? You are certainly free to choose the architect of your desire for the design of your home. We only require you submit your plans to Plantation Acres Architectural Committee for approval in order to ensure that certain quality standards are met and rights of view protected. 2.3. What can I build on my lot? We do have some limitations regarding construction. You can build up to 15% of your total lot area. Lots cannot be subdivided after purchase. 2.4. Does Plantation Acres have a construction company or do I find an independent builder? Plantation Acres has an architectural and engineering team to assist you with home designs, permits and construction services. However, you are also free to choose your own service providers.
2.5. Does the fact that I own property automatically qualify me for residency in Costa Rica? No, if you are interested in obtaining residency, we advise you to contact an Immigration Attorney at Law. If you are not familiar with a lawyer, feel free to call or email Plantation Acres so that we may recommend one to you. It is not necessary for you to obtain residency, as long as you abide by the Costa Rican Law, which implies that your maximum stay in the country does not exceed the period specified on your tourist visa (currently 90 natural days). After spending a minimum of 72 hours outside of the country, you will be allowed to re-enter Costa Rica and receive another tourist visa. 2.6. Are there any restrictions for foreigners to own property in Costa Rica? Foreigners are allowed the same rights as Costa Rican Citizens when it comes to real estate in Costa Rica. Regardless of your nationality, we recommend that you take title of your Plantation Acres Estate property through a Costa Rican Corporation ( Sociedad Anónima or S.A. ). Each lot is titled and registered under an individual S.A. When you take title of your lot, we transfer 100% of the S.A. stock to you. 2.7. How much is the construction cost for a house? The construction cost of a quality luxury home can range from $75.00 to $100.00 per foot depending on the finishing and materials chosen. Annex 3. EXPENSES. 3.1. How much are maintenance fees? The Plantation Acres Homeowner Association fee will be $130.00 per month, subject to revision yearly. A detailed break-down of these fees shall be provided. HOA fees shall commence at closing and title. 3.2. What sort of taxes can I expect to pay for my property? Property taxes in Costa Rica are significantly lower than in North America. They are currently set at 0.25% of the registered property value and are payable on a quarterly or annual basis, at the proprietor s discretion. There are currently no capital gains taxes in Costa Rica on the sale of the property, shares or quotas of the S.A. Please contact Plantation Acres for a comprehensive overview in the presence of an attorney.
Annex 4. CLOSING. 4.1. How long does it take to close and how much will it cost? Closing is very convenient and fast. It can take less than 24 hours, depending on how long it takes for your cash transaction to post. The closing cost is $1500.00 (including the Costa Rican Corporation, S.A.), when you do the closing at the office of our legal representative. 4.2. Do I have to be in Costa Rica at closing? No, a Power of Attorney can be appointed by you to close by proxy. If you choose to finance your purchase with a Costa Rican bank, be sure to discuss with them their closing procedures as most require Embassy Certification for Powers of Attorney and that process may take time. If you plan to attend the closing personally, there is no problem. 4.3. Why does Plantation Acres sell Real Estate through Corporations? By purchasing your property through a corporation, it protects you from personal liability in case of accidents or suits from third parties. As an owner of a corporation, you can legally open a bank account; buy a cell phone contract, car or a Costa Rican driver s license. Normally, non residents do not have this purchasing ability; however, by becoming the owner of a corporation, you are permitted to make these types of transactions. Annex 5. PAYMENTS. 5.1. Can I reserve a home site? Yes. To secure the reservation, the Promissory Buyer agrees to deposit the sum of $10,000.00 U.S. of the purchase price towards the purchase of a lot in Plantation Acres. These funds will be delivered and deposited into the escrow account of the selected attorney at law. You will then have up to 30 days to physically inspect the property and complete due diligence. At closing, the cash balance is due or you may participate in our Owner Financing Program with 25% down payment.
Annex 6. CONTACT INFORMATION. 6.1. Any questions, concerns or inquiries may be directed to Plantation Acres by phone: (506) 8856-5021, or through electronic mail: theschecherrealtygroup@yahoo.com. You may also visit the following website for more information: www.oneplantationacres.com. Annex 7. DEVELOPMENT, CONSTRUCTION GUIDELINES / RESTRICTIONS, AND COVENANTS RUNNING WITH THE LAND / LEIN RIGHTS. 7.1. USE OF LAND. A. Permissible Use: Isolated single housing and complementary installations (gazebo, bohios, pools, etc.), as long as their use and structures do not hinder the neighbor or affect, in any manner, the character of the residential neighborhood. B. Minimum Sized of the Lots: In general, 1.25 acres (5000 square meters). C. Maximum Height: Ground and two stories. As long as the top floor does not interfere with the ocean view of the upper lot holder. D. Front Construction Line: 40 feet from the property line. E. Side Construction Line: 7 feet from the property line. F. Rear Construction Line: 30 feet from the property line. G. Parking Spaces: Maximum of eight spaces within each lot. 7.2. COMPLEMENTARY RESIDENCES AND CONSTRUCTIONS. A. Before initiating construction, the house blueprints and other installations must have the approval of the developer s Architectural Committee and the following organizations: Health Ministry and City Hall Engineering Department. B. The architectural design must be uniform. C. The roofing and other installation must have a minimum slope of 20%. D. Complementary construction (gazebos, bohios, etc.) must harmonize with the architectural design. E. Complementary installations (electric lines, gas lines, pool rooms, water fountains, pumps and artificial waterfall accessories, etc.) must not be visible from the street nor breach the property limits. F. All livable spaces must have direct ventilation to the exterior or to an inside patio with a minimum area of 20 square feet.
G. The windows must harmonize with the design. The use of celosia (tropical blinds) or ornamental block as windows, are not permitted. H. Winnebago, RV or similar vehicles are not permitted as a dwelling. Commercial trucks or equipment cannot be visible from the road or from neighboring properties, with the exception of service vehicles of temporary nature. I. The side and rear fencing must be of semi-open design with a maximum height of 5 feet with the exception of retaining walls. The permitted materials are as follows: cement, clay blocks, wood, stone, slate or a combination of these materials with steel or aluminum. Wire, cyclone and barb wire fences are not allowed. Retaining walls must be consistent with the architectural design of the surrounding area. 7.3. ENVIRONMENTAL ASPECTS. A. All construction must comply with the current environmental laws in Costa Rica, taking into consideration the topography and existing flora and fauna. B. The grading of the property must complement the natural survey of the land and should not affect the natural drainage. If gutters are necessary, they must be buried underground and maintain a natural slope. C. Excavated areas or embankment must not have an incline higher than 45% and must be stabilized with a retaining wall or similar structure. D. Cutting trees may only be done where the construction will be completed; the amount of cut trees must not exceed 30% of the amount of trees in the lot. E. The installations and fences must be built with materials that are attuned with the surroundings. The roof must be red tiles or similar. F. The lot s forest areas (that do not compromise the building) cannot be entirely cleared; they can only be partially cleared for the following reasons: 1) for landscaping purposes, with the intention of adding vegetation, 2) for the construction of off-road trails and additional installations that do not affect the surrounding ecosystems, 3) for window openings that permit a larger established view. Removal of vegetation, change of established grading or pavement around / on tree roots is prohibited. Any endangered species of flora / fauna must be preserved. G. A percolating test must be performed by a recognized company for the septic tank design and system, which will be presented to the developer s Architectural Committee prior to approval from the Ministry of Health. The septic tanks and system must be located no less than 30 meters from any existing water sources.
H. During construction, a removable latrine service should be utilized until the sanitary system is functioning (septic tank). Latrines cannot be built for permanent usage. I. The hunting of animals is strictly forbidden. 7.4. VARIOUS ASPECTS. A. The installation of the communication towers for commercial purposes is prohibited. B. Construction materials cannot be held outside of the property limits. Any cement mixture in specific should be restricted to the lot. C. Extra construction materials cannot be left on common grounds, neighboring properties or the general garbage collection. D. Water cannot be drained into the neighboring properties or common areas. You must come to an understanding with your neighbor regarding channeling water. E. The property s drive way or parking area cannot block the rain gutters, nor obstruct the vehicle paths. F. It is the proprietor s duty to maintain their lot. Lots without construction must be kept clean and the grass cut regularly. G. Lots cannot be subdivided post sale. H. The proprietors understand and accept the creation of a Plantation Acres Home Association, with a promise to uphold its regulations and assist in affairs. Its function, amongst others, will be the management of the development property. 7.5. BUILDING AGREEMENT. All plans related to the construction of a lot at Plantation Acres are subject to approval of the development s Architectural Committee. The maintenance fee (TMS) will be $130.00 U.S. per month per lot, which will be due on the first of each month following the purchase of said lot (subject to revision by the Homeowner s Association). In the case of incompliance regarding the previously mentioned fees, the Promissory Buyer hereby grants a lien and privilege in favor of the Homeowner s Association of Plantation Acres. The Promissory Buyer further acknowledges that said liens and privileges are real rights / covenants that, in the case of default on behalf of the Promissory Buyer, serve as an encumbrance on the property with all rights to the Developer as granted by law. Said developer is not responsible for
the payment of maintenance fees on unsold lots, and remains primarily responsible for maintaining said lots until sold. A detailed explanation of all fees and costs should be provided annually. House plans and blue prints are also available upon request. Construction and design group are permitted to assist in the planning of said living facility. The previous information is recognized by both parties on (day) of of the year. Name of promissory buyer Signature: Name of developer Signature: