Lomas de Punta Islita

Top Twenty Questions

	1. Is the Hotel Punta Islita affiliated with Lomas and can Lomas owners use the Hotel facilities?
		No, there is no affiliation other than common investors. However, Lomas owners may use the spa, gift shop, tour desk and 1492 Restaurant on a space available basis (Hotel guests have first priority). Also, a Lomas Club Membership will be available for an annual fee and usage fee which permits use of the Borrancho Beach Club, tennis courts, executive golf club, gym and business office. Note: Lomas owners have beach access and will have, when developed, a private club similar to the Borrancho, with bar, restaurant and pool. Membership will be available to Lomas owners.

2. Why a condominium?

In Costa Rica , unlike in the United States , a condominium can include land. The comparable structure in the U.S. is a townhouse where you get land and a freestanding building. By placing all the Phase I properties in a separate condominium, privacy and security is more easily provided and all Phase I owners participate in water, roads, security, architectural review (through a committee) and other community matters. Each condominium has its own private pool and garden.

	3. Can a foreigner own property in Lomas?
			Yes. See legal insert regarding forms of ownership and why a Costa Rica corporation is recommended, subject to your personal advisor's opinion.
			4. Can and how do I rent my property?
			An independent rental agency will be available. However, you can also make your own independent rental arrangements.

5. How do I secure and maintain my property?

An Association Fee will be charged which will cover administration, security, road maintenance, individual pool service and outside landscaping. Housekeeping services will be available on an independent basis.

6. What taxes must I pay?

See legal insert.

7. Can I resell my property and how do I do it?

Yes, you can engage an independent broker for an approximately 6% commission or relist it through Lomas for a negotiated commission.

	8. Is financing available?
	Yes, financing is available in Costa Rica , but it is much more expensive than U.S. financing. Most buyers arrange financing (such as a second on their private residence) in the U.S. and pay all cash.
	9. Are most Punta Islita owners American?
	More than 50% are, but there are also Costa Rican, Italian, British, Belgium and other owners

10. What type of medical facilities are available?

There is a hospital in Nicoya , a one-hour drive. San Jose also has very modern up-to-date medical facilities. Often there are doctors staying in the Hotel and a staff member is usually trained in first aid.

11. Are electricity, water, TV, and phones available?

Water and electricity is provided to your lot line. The water is from a well, which is tested and, if required, treated. Monthly usage fees are charged. If you use a corporation for ownership purposes, you can get a local cell phone or just rent one while in Costa Rica . Telephone lines are possible, but there is a long waiting period. Direct TV is available for a monthly fee.

12. What is your environmental policy?

See description of development.

	13. Where do I shop?
			There is a pulperia in the village of Islita which sells basic supplies and another local market in Corazalito, about 15 minutes by car. In Samara, 30 minutes by car, is a larger market. In Nicoya , one hour by car, there are several full service markets and an open air farmer's market on Friday and Saturday.
			14. How large is Lomas and what is the projected development period?
			The total area is about _________ hectares or __________ acres. Phase I is about ________ hectares or __________ acres. Phase I (including the beach club) is expected to take 2-3 years to complete.

15. What is the cost of Villitas (condos), Villas and Lots?

Lots from $200,000, Villitas from $500,000 and Villas from $700,000. Prices vary by view, lot size and improvements.

16. What can I build?

Anything compatible with the lot and community and approved by the committee for design review. However, only one single family residence can be built per home site.

	17. Who designs my Villa or Villita?
		Ronald Zurcher, Costa Rica 's most acclaimed architect and designer of the Hotel Punta Islita, the two Costa Rica Marriotts and the Costa Rica Four Seasons, has designed many local homes and is willing to meet with you. You may also independently choose an architect.

18. Who builds my Villa and what will it cost?

There are several contractors who have experience in the area and would be willing to bid on your plans. Also, your architect may recommend a builder. Costs vary depending on the size, furnishings, materials, etc.

19. How do I reserve a Lot, Villita or Villa and what is the closing procedure?

Make a 10% refundable deposit, enter into a purchase contract and close pursuant to the terms.

20. What are the closing costs?

See enclosed legal summary.