Watergate Villas East is a condominium duly organized and
existing under the provisions of the Condominium Act of the Virgin
Islands located on St. Thomas in the U.S. Virgin Islands, a U.S.
Territory.

It is situated on approximately 2.41 acres on the beachfront
overlooking Bolongo Bay on the Caribbean Sea.

There are 54 condominium residential apartments in a group of 4
buildings.  Building 14 is 4 stories; 15, 16, and 17 are 3 stories
each.  There are:

	8       Studio Units
	5       1 Bedroom Units
	37      2 Bedroom Units
	4       3 Bedroom Units

All buildings are constructed of concrete block and reinforced
concrete masonry with concrete slab and reinforced concrete roofs. 
All units are equipped with Hurricane Shutters.

Common areas include 2 laundry rooms, a pool, a Reverse Osmosis
plant to provide potable water, a gray water system, and a Sewage
Treatment Plant.

Common charges are billed monthly, payable by all unit owners, to
meet the common expenses of the Association.  Occasionally there
are special assessments to cover the cost of specific major projects.

WVE is governed by a 5 person Board of Directors, all of whom are
owners or spouses of owners.

Each of the units is to be used as a residence only.  Some owners
choose to rent their units short term to vacationers or long term.

All present and future owners, mortgagees, lessees and occupants of units and their employees are subject to the Association documents - the Agreement and Declaration, the By-Laws, and the Rules and Regulations.