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| | DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS |
 | | KKM International,SA Isla Bastimentos - Bocas del Toro Province, Republic of Panama |
 | | "Association" shall mean and refer to the Villas at Playa del Paradisio, S.A., a Panamanian corporation, its successors and assigns, operating as the owners' association for The Villas at Playa del Paradisio, S.A., a Panamanian non-profit entity, its successors and assigns. |
 | | RENTAL COMMISSION ON LEASING OF LOTS: shall be established in individual leasing contracts, shall be made payable to Bocas del Toro Realty Services, Inc., and is anticipated to be twenty-five percent (25%) to thirty percent (30%) of the gross rental amount. |
| www.bocasparadise.com /covenants.playa.htm (6737 words) |
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