The closing can be performed via mail or in person in Belize. A 10% deposit is required at which time the processing of the paperwork with the government (issuing title search, stamp duty fee and sales tax). The balance due will upon the recipt of the title.
The fifty acres is in a plantation that is being managed by Belize TeakFutures. At present this parcel is a part of 540 acres in the Young Gal McRae area of Belize.
The area of Young Gal McRae has become very valuable due to the recent discovery of oil. Oil on this land is short term, teak is long term and much more profitable.
Within the first year if any trees fail to mature we will plant them in the following rainy season. The planting will take place in the rainy season. (July 1- Dec. 30)
Fertilizing will take place at the end of that rainy season and where the constant day temperatures reach 80 degrees Fahrenheit.
Over the following two to three years depending on the length of time for the trees to produce a canopy a herbicide will be applied at the bases of the trees at the beginning of the dry season. (April/May) During this time a continual fire line will be established and maintained.
During the two years Belize TeakFutures will continually monitor the condition of all the trees. If trees are deemed to be unacceptable they will be removed and if again deemed necessary to continue the progress of the canopy they will be replanted.
At the end of the two years you will be offered at a nominal fee the continual maintenance of your trees. During the fifth to seventh year there will be little maintenance necessary. Approximately, during the seventh year a thinning of the plantation will be necessary. At the tenth year a substantial amount of the plantation will need to be thinned. At this time a monetary return can be expected.
As the continual harvesting of the trees takes place in the following years a decision as to the amount of trees removed will need to be discussed with the owner. At the following year intervals it will be up to the individual property owner to decide at what point he wants maximum return on their investment.
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