HARD ROCK HAS NOT IN ANY WAY PASSED ON THE MERITS OF, OR THE MATTERS SET FORTH IN, THIS ADVERTISEMENT OR ANY MARKETING MATERIALS. HARD ROCK HAS NOT PARTICIPATED AND WILL NOT PARTICIPATE IN ANY MANNER IN THE SALE AND MARKETING OF THE CONDO UNITS AND HAS NOT AND WILL NOT ACT AS A BROKER OR AGENT IN CONNECTION WITH ANY CLOSING. THE PANAMA REAL ESTATE CONDO UNIT OWNERS AND PURCHASERS OF THE CONDO UNITS WILL OBTAIN NO RIGHT TO ANY LICENSE AGREEMENT OR TO ANY HARD ROCK TRADEMARKS AND WILL NOT BE PERMITTED TO REFER TO OR UTILIZE ANY HARD ROCK TRADEMARKS IN CONNECTION WITH ANY RESALE, RENTAL OR OTHER USE OF THEIR HOTEL UNIT. THE PANAMA REAL ESTATE CONDO UNITS PURCHASED BUT NOT PARTICIPATING IN THE RENTAL MANAGEMENT PROGRAM WILL NOT BE PART OF, OR OPERATED AS PART OF THE PANAMA HOTEL, ALTHOUGH SUCH UNITS WILL BE LOCATED WITHIN THE SAME BUILDINGS AS THE HOTEL CONDO UNITS THAT ARE PART OF THE PANAMA CONDO HOTEL. PANAMA REAL ESTATE CONDO UNIT OWNERS WILL NOT OWN ANY INTEREST IN THE LICENSE AGREEMENT, IN HARD ROCK OR IN THE PANAMA CONDO HOTEL MANAGEMENT AGREEMENT BETWEEN HARD ROCK AND DEVELOPER. THE LICENSE AGREEMENT IS LIMITED IN DURATION AND THERE IS NO GUARANTY OR OTHER ASSURANCE OF ANY KIND THAT THE PANAMA HOTEL CONDO WILL CONTINUE TO BE ASSOCIATED WITH THE HARD ROCK SYSTEM FOR ANY PERIOD OF TIME. LAGOMAR PROPERTIES, INC (“DEVELOPER”) USES THE HARD ROCK TRADEMARKS UNDER A LICENSE AGREEMENT, WHICH LICENSE AGREEMENT MAY BE TERMINATED IN ACCORDANCE WITH THE TERMS AND CONDITIONS THEREOF. OR HARD ROCK CAFÉ INTERNATIONAL (USA) INC., OR ANY OF THEIR AFFILIATES (COLLECTIVELY, “HARD ROCK”). THE PANAMA REAL ESTATE CONDO UNITS ARE NOT OWNED, DEVELOPED OR SOLD BY, OR UNDER COMMON OWNERSHIP OR CONTROL WITH, HARD ROCK LIMITED, HARD ROCK LIMITED. NEW INTERNATIONAL AIRPORT ARTICLE (click here) The airport in Rio Hato is expected to cost between $60 to $80 million, whereas a new airport in Santiago or Chitre would cost more than $100 million. An already built strip, even though it needs to be fixed, is less costly than building a whole new infrastructure. Originally several localities in the interior were being considered however costs played a major role in the decision to build in Rio Hato. The runway will be 2,500 meters (8,202 feet) long, and the passenger terminal is expected to reflect the area's characteristics and its sun and surf style. The plan is that the Rio Hato airport be able to serve 300 passengers (arrivals and departures) and allow the landing of Boeing 757-200 airplanes. The location is also quite close to the tourism development cluster created by the new hotels that have opened up in the area. This spot was chosen based on a study by the Andean Corporation for Promotion (CAF, acronym in Spanish) which indicated that the existing landing strip would reduce the costs. This airport will be built in Rio Hato where there currently exists a landing strip built by the US armed forces. Currently the Authority of Civil Aeronautics is working on the design of the new airport, the technical specifications and the reference terms. The tender process for this project is expected to open for bids in two months. Preliminary schedules indicate that it should be operational by mid 2013. The decision has been made, and President Martinelli has announced that the new international airport to be built in the Central Provinces will be built in Rio Hato.
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