1.- Is SeaHouz part of Club Marena?

It is part of the development and it is built on Club Marena’s reserve land. The existing easements allow that all sections that form the development share the access streets, as well as some equipment and facilities. The extension of said areas, equipment’s and the building of the new areas and facilities, needed for the proper functioning of the new section is the responsibility of SEAHOUZ.

2.- Can we use the existing recreational areas?

The tennis courts, the park and the area for pets are considered inside “SEAHOUZ” master plan. Said areas will be improved and supplemented by a Clubhouse next to the ocean with more than 10,000 covered square feet, and other 15,000 square feet of outside areas, that together will have: Covered and outside gyms, meditation gardens and labyrinth, a reading and game room, movie and conference room, swimming pool, hydro-massage spa, snack bar with kitchen and terrace, fountains, gardens, balconies and accesses to the ocean, etc. Several other optional services will be offered in these areas where interested current residents and their guests can participate.

3.- Will it have its own Homeowners’ Association, or it will join the already existing one?

It will share with the existing HOA the operation and maintenance expenses for the areas and facilities that are used by, and benefit both sections, and it will cover the cost of the necessary extensions, but it will have its own administrative system. In order to avoid duplicity of functions, it will agree with the current HOA that, with the payment of a monthly fee for each unit, it will perform several of the necessary services for which it now has the adequate personnel. At the moment we are in the process of formalizing a coexistence agreement that would allow and regulate this integration with the maximum benefit for everybody.

4.- Can the Units be rented on a per day basis?

Only long-term rentals will be allowed and there will be a system to control them. In all cases the administration will supervise the rental agreements and qualifying the interested renters who would have to submit an application and sign the R&R’s.

5.- How will the maintenance fees operate in SeaHouz?

Taxes, insurance AND Federal Maritime Zone corresponding to each Unit will be paid on a yearly basis. Services, utilities and security must be paid with a monthly fee. All other optional and supplementary services as well as the maintenance of the areas necessary to provide them, will be paid with a monthly fee only by those interested in using them. Participation of current residents for those services is important for their maintenance.

Payment of private consumption, maintenance, improvements inside the Units and public utilities and maintenance of areas that do not correspond to the common areas, will be performed by the Administration and any and all profits generated by this reason will be destined for the maintenance of the common areas.

6.- When will I start to pay fees and how much will be the monthly amount?

At the moment the Unit is delivered and the finishing work of the same can be initiated. Apart from the delivery document, you will receive the R&R’s stipulating the obligation to pay the maintenance fees as well as the respective amounts that we think will be the same $250.00 to $300.00 dollars USCY per unit, including maintenance, security, water treatment and pumping, gardens, swimming pools, elevators, fumigation and insurance for the building, equipment’s and facilities, when more units are delivered. To insure the contents of each unit, the owners will have the obligation to purchase and maintain and insurance policy.

7.- How will my investment be guaranteed?

With the purpose to develop the SEAHOUZ project, the company known as AJ, S. A. de C. V., owner of the land, irrevocably placed it in a REAL ESTATE AND ADMINISTRATION TRUST, and BANCO INMOBILIARIO MEXICANO, that specializes in Real Estate developments, is in charge of the Trust as the FIDUCIARY. Apart from that, the company known as ESTRUCTURADORA DE PROYECTOS INMOBILIARIOS,SAPI S. A. de C. V., that structures Real Estate developments, will cooperate to the patrimony of the trust, five million dollars, without the right to withdraw it, and to reach its goals, the partners of the two companies formed a new one: VIMAR SAPI, S. A. DE C. V., that will assume the responsibility of the construction, commercialization and administration of the project.

As a result of the formalization of the Trust, the owner of the project, the land and the capital brought into the patrimony, will be the Trust known a SEA HOUZ BIM-85100271, that has the instruction to purchase from Baja Title Closing Company a Title Insurance that will guarantee to the Buyers their investment.

All income from the sales will be deposited in the Trust Account and will increase its patrimony, and from said account the bank will grant VIMAR the recourses for the construction subject to the condition that they will only be used to satisfy its compromises and obligations with the Buyers.

When the Buyer pays the amount agreed with VIMAR, he would get a release once the necessary permits have been obtained from the authorities to assign the property, so the Buyer can obtain from the bank the corresponding Trust or Deed of Property, and it will be the bank’s representative who would formalize the assignment of the property to the Buyer.

8.- Can I purchase a second Title Insurance?

Apart from the Title Insurance Policy, there will be other Insurance Policy covering the construction against fire and/or earthquake. Both policies will increase their insured amounts, so the investments are properly covered at all times. When the ownership or the rights are assigned to a third party, because it is a new independent unit, it will be necessary and compulsory to acquire the corresponding coverage.

9.- What is included in the purchase of the first stage?

For the stipulated price, the Unit in question will be delivered to the Buyer ready to start the finishing work, exterior work, services and all other areas needed for the proper working of the development are also included. For the finishing work, the Buyer will receive a detailed estimate that will clearly indicate everything that is included, and it would be the Buyer’s option to accept it as it is or to perform any modifications they consider convenient. Any and all changes to the project would be estimated by VIMAR and before they are performed, they would have to be approved by the Buyer.

10.- When will you start delivering the units?

Thirty (30) days after the supports of the upper slab of the Unit in question, the interior work can begin.

11.- Can I perform the interior work by myself?

Under VIMAR’s supervision the Buyer can perform the interior work of his/her/their Unit, always assuming all responsibility for said work.

12.- Is there a finance plan?

During the pre-sale, we are inviting those who are interested to participate as investors in the project, by cooperating the resources to support the cost of each stage, and this way the Buyer/Investor, would obtain the best price for their Unit.

The following plans are available

Plan 1.- 30% down payment when the Sales Promissory or Trust Agreement is signed, and the balance payable with 12 equal payments according to the advance of the construction work, or if the Buyer prefers, 12 equal consecutive payments on set dates.

Plan 2.- 30% down payment when the Sales Promissory or Trust Agreement is signed, 30% when the concrete floor is installed on the Unit, 30% when the Unit is ready to start finishing work and 10% when the concrete is installed on the last floor.

Plan 3.- For those interested in a longer-term financing, we will receive and analyze their offer on a specific Unit specifying down payment, the term to pay the balance and any other conditions or term he/she/they need.

13.- Which are the additional costs?

Property Taxes, Fee for the Federal Maritime Zone and public utilities are the only additional costs to the maintenance fee that pay for the insurance of the building and maintenance of the common areas.

14.- Will you offer other ways, apart from buying, for the use of the Units?

Yes, currently we study different alternatives to occupy a Unit for a long term without meaning a purchase, lease agreement, for use and enjoyment for a set term, fractional and shared use of the Units, as well as other ones. For this purpose, we will gather investors who want to obtain a good profit and capital gains for their investment. The administration of this system would be under our direction.

15.- What exactly is the commercial area?

The commercial area will be located next to the highway, with a double door access from both the development and the outside. Outside gardens will be maintained and improved, and the outside access to the commercial area would be through the secondary street located at the end of the project.

The parking area would be on the first level of the commercial area and next to a great circular plaza that will grant access to the two other levels. Stores and services needed to support the project will be located on the first floor: market with wines and liquors, cafeteria, deli, bread and Baja products shop, pet care, business center with offices for interest residents. The second floor will have different activities destine to maintain health, beauty and wellbeing, with some specialized services such as spas.