Put the chicken pieces in a large bowl or casserole. Season with salt and pepper and sprinkle the lime juice over the chicken. Set aside.

Heat the olive oil in the stock pot. Add the annatto seeds, cooking until the release their color and start to crackle and pop. Remove the seeds with a strainer and discard.

Add the chicken pieces, skin side down and cook over medium-high heat until brown. Turn the pieces over and cook the other side until brown. Remove the chicken from the pot and put on a plate, covering to keep it warm.

Add the onions, green pepper, red pepper, and garlic to the pot. Cook over medium heat until the onions are translucent.

Add the tomato sauce, chopped tomato, cumin, and bay leaf. Cook over medium heat for about 5 minutes.

Add the chicken, wine, beer, and sherry and cook over medium heat for about 8 minutes.

Add the chicken stock and bring to a boil. Add the rinsed rice and bring back to a boil, then reduce heat to low and cook about 20 to 25 minutes, until the rice has absorbed the liquid. If there is still a lot of liquid in the pot, then remove the lid for the last 5 minutes or so of cooking.

Stir in pimientos, olives, capers, peas, cilantro as desired. Serve with lime wedges and squeeze some of the juice over the rice.