June 2009 Ocean Star Estates Update

Dear Ocean Star Estates Property Owners,

The news to trump all other news about the development is that the Puerto Plata Title Registry finally issued titles in our name for all 116 lots in Phase I! You will recall that the entire property had to be subdivided into lots and titles issued in our name for each individual lot. Our thanks to all of you for your patience as we went through the long process of complying with the new deslinde procedure (http://www.oceanstarestates.com/deslinde.html) required by a new Dominican Republic law for all real estate transactions. This news means that we can begin the process of transferring titles to buyers of lots in Phase I. In our next update, you will receive details about how this will occur, so that you know what to expect and how long the transfer is likely to take. To view the titles, visit our website at http://www.oceanstarestates.com/title_transfer.html (see header “Phase I Titles”).

We also are excited to announce that we have finalized our clubhouse design. Our beautiful clubhouse will include a community pool, internet cafe, locker rooms, game room and a bar area. The clubhouse plans are designed to be built with green design features such as green materials, proper ventilation techniques for energy saving consumption, and the use of alternative energies which will supply the electricity.

Pictures of the clubhouse may be viewed at http://www.oceanstarestates.com/home_building.html, and our list of amenities is at http://www.oceanstarestates.com/amenities.html. If you haven’t check out our Photo Gallery, but sure to do so! http://www.oceanstarestates.com/OSE_Photo_Gallery.html

Finally, for those of you who are interested in what’s happening with Punta Alma down the road from Ocean Star Estates, apparently the developer is still in the process of obtaining all of the permits, and the anticipated start date for digging the resort’s deep port is by the end of this year, 2009. Lot sales are anticipated to begin in 2010. (Visit http://www.oceanstarestates.com/punta-alma.html for more details about Punta Alma).

P.S. These updates are archived on our website at www.oceanstarestates.com/newsletter.html.