The settlement of Kalo Nero at province Sitia belongs to the village Pervolakia and was originally developed around the monastery of Panagia, dedicated to Zoodochos Pigi (Life Giving Spring). The monastery probably functioned for the first time in the 15th century next to the important spring of water in the area and functioned possibly as the religious center for the hermits who lived in the many caves around.
Inside the temple, ruined frescoes and traces of medieval travelers are preserved. Inscriptions are preserved with the dates of 1461 and 1674. During the Ottoman rule, the monastery was dissolved and re-founded as a dependency of the Kapsas monastery in 1881 by the abbot Iosif Gerontakis. The cells of the monastery are preserved in good condition.