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General Covenants and Regulations from Gamma Agreement

Article I : General Guidelines

Galt’s Gulch Chile Voluntary Home Owners Association Rules/Guidelines The "GGC Voluntary Home Owners Association" is operated under the belief that voluntarism, innovation and responsibility are the best principles to guide our community. In order to realize these ideals we seek to establish market prices for services and opt in / opt out based mechanisms to enable people to interact in a voluntary and peaceful manor. This document is intended to illustrate an outline of intentions and goals in terms of home owners’ association guidelines.

VHOA Framework:

  1. Individual residents will choose a voluntary home owners association.

  2. Individual residents the ability to opt into the VHOA of their choice.

  3. Individual residents have the ability to opt out of the VHOA of their choice.

  4. Individual residents have the ability to create new VHOA's with different services, rights and responsibilities.

Resolution of Disputes:

Galt's Gulch Chile is being built on a foundation of individual property rights. To ensure the prosperity of a property rights driven community, and an abundant future, potential conflicts between individuals and service providers will be resolved by voluntary arbitration means.

VHOA Fees:

VHOA fees will be based on the services the members of the VHOA opt into and out of.

Services Competition:

Utilities and services can be offered by GGC services company such as water, power and waste management and other businesses / individuals are encouraged and invited to compete in the open market and offer the same, similar or different services to the residents of Galt's Gulch Chile.

As a point of reference, GGC Services operational business plan for sustainable infrastructure and business services we plan to offer residents fall into three main categories:

  1. Water
  2. Agriculture, food and “waste” management
  3. Energy

Article2: General Provisions - The provisions of this Regulation owners , hereinafter interchangeably referred to as "Regulations" shall have the force mandatory in respect of any natural or legal person :

a) acquiring title to any one or more of the parcels referred to in the second clause of this instrument or quotas or rights held by them and their successors in the domain ;

b ) who has assigned his own use and enjoyment, or mere possession ;

c ) who deal in any other manner any such units ; and ,

d ) in general, any person entering or remaining in the subdivision in any capacity . Silently hereto relevant rules to the Law nineteen thousand five hundred thirty-seven , its amendments and regulations apply , as the same may be applicable .

Article Three : These Regulations shall govern the ' relations ' internal order and the rights and obligations of the owners and / or users of the plots and facilities Parcelación , by the above, this instrument is considered an integral part of the scriptures traslaticio serve each of the parcels referred to in the second clause of this instrument title.

Article Four . Prohibitions - In response to the above statement the following activities are prohibited .

ONE – Use of the residential property for commercial or agricultural activity, except for specifically limited agricultural use as specified in this agreement and otherwise generally accepted recreational or entertainment purposes .

TWO – lnstall or operate in residential lots : restaurants, inns , motels , cottages, villas , public access pools and recreation activities , hospices or similar establishments , kiosks, or any trade , campground , campgrounds, public parking or storage place for buses, micros , trucks or any vehicle in poor condition, the posting of notices advertising of a commercial nature or otherwise, other than regulated by itself, administration, common .

THREE - The installation or operation of all types of motors or those without adequate exhaust silencers , which expell smoke , gases and other toxic or polluting element that constitutes a low possibility of altering environmental conditions. ; installation of colored lights or emit rays or projected, intermittent or no light, and in general, anything that produces eye, aromatic and other disturbances affecting the maintenance of the general community in its natural state , except for those exceptions to this Regulation regulates and sets.

FOUR - Accumulating garbage, waste, sewage or polluting substances in the total area part of Allotment and surroundings covered by this Regulation. Garbage or household waste will be evacuated in plastic bags or similar , must be placed by residents on site for collection by scheduled removal service. Burning any domestic or natural product in outdoor fire pits other than for cooking is strictly prohibited.

FIVE. – Building more than two primary residences per lot with overall building area exceeding ten percent of the land surface .

SIX - Use of tents as primary permanent housing.

SEVEN – Keeping livestock animals that pose a threat to the security and tranquility of the community without permission of GGC and adjoining property owners.

EIGHT- Diverting runoff seasonal/year round streams or rivers into artificial channels , showers , sheds or any other source, they may only channeled or behave in the most appropriate manner and provided that no damage or deterioration is adjacent properties or other cause.

NINE - Hunting or even shooting within the subdivision or surrounding areas located within the individual property in the first clause ,

TEN - Constructing towers or elevations of any kind, except those incorporated into the architectural design of the home itself, without subject to the limitations described herein.

ELEVEN - The exploration, construction or drilling or water wells and generally any activity aimed at obtaining ground water resources without permission from GGC. ; this instrument in accordance with the provisions of article eight , subject to the exceptions set about the owner of the existing water sources in the Allotment , Inmobiliaria e Inversiones Limitada Miraflores Forests , their rights or who it yield .

TWELVE - Use and occupy with objects or property owned or third easement areas and / or common goods so as to prevent or pregnant the use and enjoyment of them by other owners or users plots.

THIRTEEN - Circular recklessly vehicles or animals of any kind in interior roads of the community.

Article Four : Common - No Obligations prejudice to the other obligations contained in this Regulation , the owners or users of the plots shall be required from the date of conclusion of the relevant purchase agreement with Inmobiliaria e Inversiones Limitada Forest of Miraflores , to observe, comply and observe the following general rules :

a) the owners of the parcels or units ' obliged the gathering and maintenance of roads and paths commonly used by the payment of referral fees in the twelfth article.

b ) Each purchaser, owner or user of the premises or plots shall ensure that the interior and exterior cleaning them , whether they are in a state of vacant , built or under construction. Also undertake to not place debris , garbage, waste , etc., in common spaces and prevent, as far as possible , these actions of third parties. In particular, undertake not to prepare or allow his dependents or contractors prepare cement, mortar, or similar , in public access.

Article Five : Easements - in order to tend to the existence of appropriate relationships between the properties or parcels that make up the area known as " ___ " private subdivision Forest Miraflores defined below these easements , general , perpetual, permanent , free and irrevocable that build on each plot and the mutual benefit of all and each of the remaining units of Allotment so that each of the plots would have both the as servants and dominant as applicable , as well as the benefit of the properties that may result from the division of individual property in the first clause and all other property or person determined by the society premises Real Estate and Investment Limited Miraflores Forest :

a) easement storm water and potable water and aqueduct water pipe for irrigation ;

b ) easement for electric power lines;

c) easement for the installation of pipelines running water and / or drinking ;

d ) easement for the installation of wiring for telephone, telecommunications and other services are public or private;

e ) easement for installation of other services technical , scientific and industrial advances become due or advisable in the future; and

f ) of way to traffic circulation and staff , necessary for execution of the tasks of maintenance and repair of facilities , which are related to other easements .

Article Six : According to the plane of division which is added to the end of the document register , one thousand nine hundred ninety nine under number three hundred eighty-eight in charge of the Real Estate Casablanca in Allotment there are several interior roads , which, together with its bridges and other improvements built on it are owned by Inmobiliaria e Inversiones Limitada Forest of Miraflores . In order to strive to ensure that an adequate water supply, use and enjoyment of the lots or parcels that make up the private subdivision of Miraflores Forests , Forest Real Estate & Investments Limited is Miraflores and agrees for the benefit of each and every of the plots , perpetual easement , permanent , free and revocable vehicular and pedestrian traffic , so as to ensure the free movement within the Allotment and the common use of its interior roads for all its inhabitants.

Article Seven : Without prejudice to the provisions above , the committee of directors may be all kinds of easements are this legal or voluntary agreement as described in Article Twenty- second , provided such easements do not affect or relate to the areas where the interior roads of Allotment are deployed .

Article Eight . Harnessing Water - The use of tap water at each site will be provided from sources owned by GGC , being in charge of this company , or third party to whom you assign your rights , the regulation on the use , costing and resource sharing . It shall be the responsibility and cost of each property owner splice tap water to serve its respective unit . Each owner must hire splicing installing running water within a maximum period of five years from the signing of the deed of sale of the relevant property.

Article Nine : . Electric wirings - will be charge and cost of each property owner to the joint poles of power lines of Allotment . Each Owner shall contract the installation of the corresponding electrical connector to your property within a maximum period of five years from the signing of the deed of sale of the relevant property.

Article Ten : . Ordinary expenses - for the purposes of this Regulation , the following definitions apply common expenses are incurred in the administration and operation , maintenance , security, cleaning and repair of common goods and areas of easements , especially being understood :

a) salaries, fees and obligations pension paid by the employer that correspond to management personnel , caretakers , gardeners and others , to provide services for owners and Allotment users ;

b ) The insurance contracted for goods of common use ;

c ) The consumption of electricity, water , gas , telephone and other spaces that correspond to the assets or common , administration , caregivers, gardens and common spaces or use necessary for the operation and propulsion pumps attached , ponds , meters, etc.;

d ) Expenses incurred for grooming - waste generated outside of each tract or parcel and the proper functioning of the common spaces ;

e) Uniforms and staff work items , such as coveralls , parkas , raincoats , boots , etc. . ;

f) bulbs , keys, tires, spare parts and other supplies that are needed to use and replace services in common use ;

g ) Any property taxes are borne by the owners and Allotment users incurred by the administration;

h ) Repairs to be carried on the goods and common spaces ;

i ) Ia maintenance of interior roads and driveways of Allotment and, in general , of all goods in common use ;

j ) All other expenses , by their nature may be necessary for the preservation , performance , cleanliness and presentation of the subdivision , which ' forms the area known as " Lot B South America " private subdivision Forests of Miraflores. It is expressly evidence that the aforementioned common expenses include those incurred in the management, operation , maintenance , security, cleaning and repair of common goods and areas of easements for the Lot adjoining called " Lot A La Laguna " in which it is located , the goal and means of access to lots private or subdivision called GGC. Common costs described above will be collected periodically by the administration at times to be determined for this purpose . In case of default or simple delay in payment shall accrue , through fines , the amount of zero point five UF for each month or fraction of a month of retaso.

Article Eleventh: The obligation of an owner of parcel or parcels for common expenses always follows the same owner, even in respect of the expense accrued prior to its acquisition.

Article Twelve: The Loteo Manager is expressly authorized to request the suspension of water services , electricity , garbage collection and other regarding those units whose occupants have made timely pay two consecutive bills or joint consumption or expenditure in two accounts any semester.

Article Thirteen : Notwithstanding the provisions of Article Twenty letter d ) , the owners of the parcels make the Allotment shall be paid for the ordinary common expenses low equivalent weights sum to zero point eight UF per month , monthly amount will know in advance and as the offices ' of the Administration, within the first five days of each month. In addition and without prejudice to the provisions of this article first transitional Regulation , in order to maintain and increase create a reserve fund intended to provide funds for the purchase of equipment and the performance of additional work within the Allotment , each owner must make an initial contribution by the sum Peso equivalent to four point four UF , for each acquired parcel, amount to be paid within ten days from the date of signing the corresponding title to enable him to have a drive of Allotment.

Article Fourteen: For the purposes of payment of common expenses and disbursements , states that:

a) without prejudice to the first article transient Rules, the payment of common expenses begin to accrue from the moment that every owner or user to subscribe the corresponding title to enable him to have and / or use and enjoy any of Lots or units .

b ) The amount consisting of the common fund raised will be updated each time the Owners' Meeting so established and agreed, at the suggestion of the Administration.

c ) If you do not receive the assessment and collection for any reason , each owner or user of the plots should be responsible for consulting the appropriate fee to pay , not to be allowed to absolve themselves of timely payment alleging I do not get to settlement.

d ) The fact that an owner does not make effective use of a particular service or common use, or that the drive remains empty for any . time does not excuse in any case obliged to contribute the timely payment of the common expenses.

e) The common fund and contributions or fees shall be borne by the villagers ' Administration , who must open a bank account in the name of " Community Forest Miraflores Two " for the sole purpose of depositing the money in it from these concepts and the other corresponding to or determined by the Assembly of Owners, and turn against it to pay the expenses to be made . The operation of these funds and current account corresponds to the Directors, who periodically inform the Committee of Management and annually to the Assembly owners.

Article Fifteen : Administration - The Administration of the goods and services in common use ' and in general, of all the parcels or lots will be in charge of Administration , hereinafter interchangeably called " Manager " who may be a natural or legal person, who shall appoint the committee Directors by resolution adopted by an absolute majority of its members. The administrator reporting directly to the Management Committee and shall hold functions while having the confidence of the committee , which in any case may at any time and without cause by the affirmative vote of an absolute majority of its members , revoke the appointment and to carry out a new designation. If the Trustee ceases to hold office for any reason other than its replacement, any owner may temporarily assume his duties with the agreement of the Management Committee until a new administration is appointed. The Administrator may charge fees for the performance of their duties , corresponding to the Committee determine the source and amount of this obligation.

Article Sixteen : It shall be the Administrator :

One ) Ensure and monitor goods and services commonly used and areas of Allotment servitude , by providing revisions and repairs that need to be run . In particular , control or be responsible control , particularly heavy vehicle traffic in the period of housing construction in the Allotment .

Two ) Collect fees or payments to be made by owners for the expenses or common expenses.

Three ) collect and receive due for this item and / or any other .

Four ) Order the suspension of services not paid timely WHATSOEVER .

Five ) Administer the funds referred to in the previous Sixth Article Tenth .

Six ) Managing assets intended to comply as established : in this Regulation and foster conservation Allotment .

Seven ) Render Bimonthly Account Management Committee expenditure or revenue last quarter, with payroll documentation and co-owners delinquent in the payment of the expenses or common expenses and pay annual report to the Assembly of Owners.

Eight ) Contract , remove direct and monitor staff through which common services are rendered.

Nine ) Keep a book of minutes of meetings of the Board of Proprietors.

Ten ) represent in court, actively and passively , to owners in cases concerning the administration, conservation Toilet Allotment , whether such judgments can promote any of the owners or third parties. For this purpose , the Administrator shall be deemed vested with the facultas mentioned in the first paragraph of article seven of the code of civil procedure . In the case of the powers set forth in the second paragraph of article seven of the same Act , the Administrator shall mean only invested with them if the committee of Directors so decides by resolution adopted by a simple majority of its members.

Eleven) ensure compliance of rules and enforcement provisions of this Regulation and of the agreements of the owners Assembly and Administration Committee.

Twelve ) exercise other powers conferred on it by this Regulation and those that logically and naturally are within their management functions . Tenth Article Seven: The Manager certification made about established facts straight , and that relate to compliance with this Regulation and / or the coexistence within the Allotment , have the courage and the effect that the law attaches a legal presumption, provided they have the consent by the Owners' Meeting or the Management Committee . Eighteenth Article : Owners' Meeting - The Board of Owners or "the Assembly" shall normally meet once a year and , extraordinarily , whenever called by the Management Committee or the Administrator directly on its own initiative or at the request of a number of owners representing more than half of the picture formed on the Allotment .