Update FYI

1) Waterstone Resort Realty, LLC filed on 2/16/09 with an 'amendment' to their Articles of Organization to change the name of their LLC to: NCPCB Investments, LLC this is found at http://www.sunbiz.org/pdf/43445662.pdf

2) The 4 condos that 'were' owned by Waterstone at Nautilus Cove Condo are in foreclosure. In regard to 712, the last payment to Compass Bank was made in July 2008. They are also behind in their quarterly assessments at the condo complex.

WATERSTONE RESORT REALTY LLC - (Primary) 09000944CA Civil http://records.baycoclerk.com/ovationweb/courtcase.aspx?casetype=Civil&case=09000944CA

Condo #710 WATERSTONE RESORT REALTY LLC - (Primary) 09000851CA Civil
http://records.baycoclerk.com/ovationweb/courtcase.aspx?casetype=Civil&case=09000851CA

Condo #712 WATERSTONE RESORT REALTY LLC - (Primary) 09000943CA Civil http://records.baycoclerk.com/ovationweb/courtcase.aspx?casetype=Civil&case=09000943CA

WATERSTONE RESORT REALTY LLC - (Primary) 09000952CA Civil http://records.baycoclerk.com/ovationweb/courtcase.aspx?casetype=Civil&case=09000952CA

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Waterstone Resort Realty, LLC owns 4 units at Nautilus Cove in PCB and as well as being behind on their quarterly assessments on all four a foreclosure has filed on their unit 710 on 2/20/09 by Compass Bank in Birmingham. Their tax liens remain as do several civil suits.

Also as to Nautilus Cove - 46 units are behind on their quarterly assessments, 10 by minor amounts, 12 by signifigant amounts.

Liens are filed on 6 units and 7 are being foreclosed on.

No condos have been sold this year and only three last year. 60 unsold remain in the hands of the developer (who is renting them out where he can) with 108 having been sold.

See also:

http://nautiluscondosrules.blogspot.com/

http://nautiluscovesuit2008.blogspot.com/

http://waterstoneresortsllc.blogspot.com/