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/