Ernst Young Abogados, S.L.Torre Picasso

Plaza Pablo Ruiz Picasso, 128020 Madrid (España)

Residential development "CAP BLAU" at the municipality Santanyí (Islas Baleares)

Building Licenses

With regard to the insurance policy in force, the entity "MD INSURANCE SERVICES LIMITED", acting on behalf of LLOYD'S 4472 Syndicates insured the property in accordance with the following data. We have not been provided with the official certificate, but we have been provided with the insurance policy, which states that the cadastral reference of the plot is 4833109-ED1543S-0001-PL

End of works certificate

The end of works certificate for 87 apartments and parking lots was issued by the architect Mr. Guillermo Reynes Corbella, on 31th

March 2010, and was duly stamped by the Official Architects Association of Illes Balears on 4th May 2010. The end of works certificate for the 3 swimming pools was issued by the architect Mr. Guillermo Reynes Corbella on 6th May 2010 and was stamped by the Official Architects Association of the Illes Balears on 17th May 2010

First occupation License

The first occupation license for 87 apartments and parking lots placed at Calle San Pedro, nº 32 Cala Figuera-Santanyí was granted to "VALLEHERMOSO DIVISIÓN PROMOCIÓN SAU" by the Town Hall of Santanyí on 22nd July 2010 in accordance with the municipal file number 187/2006. The first occupation license for the 3 swimming pools was granted by the Town Hall of Santanyí on 22nd July 2010, in accordance with the municipal file number 192/2008

The building license was granted by the Town Hall of Santanyí on 14 th September 2006. It was granted to "VALLEHERMOSO DIVISIÓN PROMOCIÓN S.A.U." for the construction of 87 apartments and parking lots in plot calle Sant Pere, 32, Cala Figuera-Santanyi. Balearic Islands, in accordance with the municipal file number 66/2006. Additionally the building license for the construction of 3 swimming pools was granted by the Town Hall of Santanyí on 30th September 2008 in accordance with the municipal file number 099/2008

Insured: VALLEHERMOSO DIVISIÓN PROMOCIÓN, S.A.U. and the successive owners of the apartments and parking lots

Ten year-insurance

Amount of the premium and payment: 104,560.60 €. It was paid before the validity of the Guarantee

Franchise: 9,000.00 €

Description of the construcction: Building of 87 apartments, parking lots and 3 swimming pools placed at Sant Pere street, nº 32 Cala Figuera-Santanyí. Balearic Islands

Covered risks: Basic guarantee for structural damages and demolition and removal of rubble expenses with a limit of 10% of the compensable damage.

Validity period: From 10 June 2010 until 10 June 2020

Policyholder: VALLEHERMOSO DIVISIÓN PROMOCIÓN, S.A.U.

Policy Number: MDIS 20/08/25

Insured Capital: 18,735,940.87 €