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UPDATE AS OF AUGUST 24, 2009
All negotiations for the
Eco Village property have now been completed and our initial $2,500. (U.S. dollars) Good Faith deposit has been sent to secure
it sufficiently to begin the paperwork process.
Our agreements are as follows:
(1) The original asking
price of $265,000. has been reduced to our original offer of $200,000. after some serious negotiating.
(2) The
Good Faith deposit has been sent.
(3) The closing of the deal is scheduled for the end of October when we will
be able to take physical possession of the Eco Village site.
(4) The terms are:
(a) that we will give them
a $70,000. down payment (the Good Faith deposit included in that) at time of closing.
(b) that the contract to pay off
the property will be a 3 ½ year time period (8 months less than our original proposal) and the balance after the down
payment will be at a 5% simple interest rate.
(c ) that should we be able to pay off
the entire cost of the property within the first 6 months of occupancy that a 2 ½ % rebate on the interest will be
forthcoming.
(d) that should we pay off the property before the full 3 ½ years of the contract terms that no penalties
shall be incurred.
(5) Our attorney, Sr. Iker Algorri Camacho is now in posession of all of the paperwork on the
property and valid title will be confirmed.
(a) Iker will also make his services available to all potential community
members should they need assistance in obtaining their FM3 residents visas. He may be reached at his email address at: iuslegis@hotmail. com should you need any information about that (he is fluent in both English and Spanish)
(6) Our paperwork
to establish a legal Civil Association as the Community Trust, which will be the legal holders of the Eco Village site with
all paid members listed as its Trusties, is in the process of being drawn up by a Notary Public and the first rough draft
should be ready to work with before mid September and possibly in the first week of the month. The title of the Community
Trust will be: La Paz Eco Village A.C. (the A.C. stands for Civil Association in Spanish).
(7) By establishing
the Civil Association we will also in the process be made a legal N.G.O. (Non-Governmental Organization) and be able to accept
Grants for our project. Full tax deductible status will follow that.
(8) We ask
all those who can to assist in this project by making donations via our Paypal account to
do so. This all cost in real funding terms and although we have commitments for some of the funding it still only equals about
a third of the purchase cost and leaves nothing for other expenses inherent to such a project. As members sign on we can balance
out the needs but in these early stages we are hard pressed to make all ends meet. So please donate whatever you can. Every
little bit helps.
Walk in Peace
Rainbow Hawk
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