The Tucan Country Club & Resort is a 180 acre private gated golf community with a wooded setting located a few minutes over the Bridge of the Americas from Panama City.

Persons wishing to purchase one of the approximately 500 residences (consisting of Villa's, Townhouses and Terrace Condo's), must first make application for Membership to the Tucan Country Club, as Membership is mandatory and a pre-condition for purchase.

Purchase of a Terrace Condo includes lot and building. In the case of Villas, after lots selection, members must select a model, or can work with our architects to have one custom designed.

Terrace Condos and Model Villas are built and designed to the highest standards, and are delivered fully satisfaction guaranteed, and each member will be able to choose from a wide selection of interior finishes.

ECOLOGICAL CONSIDERATIONS:

In developing the Master Plan for the Tucan Country Club & Resort, the developers have taken painstaking care to preserve as much as possible of the existing Trees and other vegetation on the property. Additionally, in order to cause minimal impact to the environment, all homes have been designed to conform to the maximum extent possible to the existing topography.



PRE-SALE PERIOD:

The prices listed for the lots and houses are the "Pre-Sale" prices, and are thus discounted from the Base Sales Prices by 20%.

The Pre-Sale Period officially ends December 31st, 2005.

HOSPITALITY STRUCTURES IN THE PROJECT

1. Hotel

The Developers plan to build a Boutique Hotel within the Club complex starting in the second year of development. The Hotel Guests will have shared access to the Club's facilities.

2. Club Membership:

Membership in the "Tucan Country Club & Resort" is limited to 600 Members, of which approximately 500 would be Residents of the Development (Membership is mandatory), the cost of membership is included the price of each residence. 100 non-resident memberships may be sold by the club. The cost for Non-Resident Lifetime Membership will be $25,000.00 each.

All Memberships will be for the "lifetime" of the Member, and will automatically include his or her spouse and all children under 21 years of age.

3. Golf Clubhouse:

The Developers will construct a First Class Premier Clubhouse for Members and Guests, with full indoor and outdoor dining facilities, meeting rooms, activity rooms, Ball Room, Men's Club, Woman's Club, bars and social areas for events.

4. Shopping Center:

The Club Complex will include a Shopping arcade for the convenience of the Residents and guests, which will include services such as a Bank, laundry, pharmacy, beauty salon, Travel and Tourist Agency, and gourmet Mini-Supermarket, plus a "Mailboxes etc.," type operation where residents can send and receive mail and packages.

5. Spa and Tennis Club:

The Club Complex will include a Spa with the most modern equipment, Steam and Sauna Rooms, Massage Rooms and Health Bar. A Tennis Club with indoor and outdoor courts will also be constructed.

6. Gymnasium:

A full service, State-of-the-art Gym will be on the premises located near the Spa, where Professional trainers will be on hand for safety and instruction.

MONTHLY FEES:

All Residents will pay a monthly Homeowners Fee, which will include Gas, Water, Garbage Removal, Home Security System monitoring, 24 Hour Security, High-Speed internet connection, Satellite TV, Landscaping of lots, and Maintenance of the common areas and exteriors of the buildings. Homeowner's fees are set at:
$1.25 per square-meter of construction (approximately $0.125/ft2) plus, in the case of Villa's and Townhouses, an additional $0.25/m2 (approximately $0.025/ft2) for 50% of the size of the owners' lot will apply.

All Members of the Country Club will pay a monthly Resort Fee, separate and apart from any residential maintenance fees.

Currently, Resort Fees are set at $180/month per family (including any kids under 21 years of age).

Special memberships are available for kids older than 21.

PURCHASING PROCEEDURES:

Clients wishing to purchase a residence at The Tucan Country Club & Resort must first qualify for Club Membership by completing a Membership Application and submit this together with a $5000.00 deposit. If Membership is approved, this deposit will be credited towards the initial down-payment of their unit (if not approved for any reason, this deposit is returned). Selection of residential unit and location can be accomplished with the Membership Application.

Notice of Approval or Rejection of Membership will be provided in writing within 30 days to the Applicant. If approved, the applicant will then have 30 days to Sign a Promissory Purchase Agreement and pay the required down payment on the residence selected.

Monthly Membership Fees will not commence until the Club is officially open, and monthly Residential Maintenance Fees will not commence until the residential unit is complete. However, special maintenance fees may be assessed on residential lots that are left vacant for any period of time.

Disclaimer: All information and prices contained herein, although accurate at time of publication, are subject to change without prior notice. You are advised to always seek competent legal advice. We are not responsible for any changes in laws and benefits pertaining to immigration, taxes, and/or any other matters mentioned herein.

To schedule an appointment, please contact us at info@panama-real-estate.com