Trade Wind Properties

Conditions of Sale

(Conditions, Covenants and Restrictions)

1. One single family dwelling per lot (no apartments, condo’s, multi family dwellings or bed & breakfast). No portable buildings, mobile homes, motor homes, camping trailers, tents or any other type of temporary or portable structures parked or erected on the lot(s) for any reason, at any time.
2. Minimum of 1,000 sq. ft. home per lot, not including decks.
3. Building materials of cement (block or poured), treated lumber, or bricks; palms, thatch and cane are not allowed.
4. Buildings no higher than 30 feet above surrounding land, to highest point of building. No exceptions.
5. No above ground building construction of any kind may be closer than 15 feet to any lot boundary (including building overhangs).
6. No farm animals: only cats, small indoor caged birds, dogs. Animals may not be permitted to disturb or molest the neighbors or passers by and must be confined, kept in a fenced yard or on a leash. No more than two dogs or two cats may be housed per home.
7. All building plans must be approved by an authorized Trade Wind representative prior to construction.
8. Sewage disposal systems must be an “AEROBIC” self contained environmentally friendly septic system approved by the governing environmental agency of Honduras (DECA), and the type and plans for said system must be approved by an authorized Trade Wind representative prior to construction/installation.
9. Lots must be kept clean of trash and debris, or will be cleaned and a fee charged to the property owner, and the burning of debris from lots must be controlled and supervised.
10. Lot owners agree to give a right-of-way for the purpose of water and electrical lines as needed.
11. Fences or barriers on any lot line must be pre-approved by an authorized representative Trade Wind Investments, Inc. S.A.
12. The entire exterior construction of any dwelling must be completed within 1 year of the date the construction began, including but not limited to, any exposed unpainted or unfinished buildings, fences or structures, etc.
13. No commercial development of any kind, including but not limited to restaurants, bars, stores, motels, service companies, dive shops, etc.
14. No more than one month storage on property of broken down vehicles, unusable boats etc.
15. Upon the sale of 75% of the available lots from Trade Wind Properties, a Property Owner Association will be created and a board of directors elected.
16. Trade Wind Properties agrees to provide household garbage pick up (small monthly fee to be paid by the lot owner to the Utila Municipality) and occasional beach cleaning (paid for by Trade Wind) until the Property Owners Association is created, at which time Property Owners association dues will be established to pay for the above services.
17. Generators to be placed only in areas pre-approved by the Trade Wind Board of Directors so as to prevent noise pollution. No wind generators are allowed.
18. Each home, to have a minimum size cistern of 5,000 gallons.
19. In the event any lot(s) are re-sold by the owner, the original owner (or seller, if not original owner) agrees to make the current version of the Trade Wind covenants in effect at the time of sale, a condition of the sale to the new owner, and will include said covenants in the Compra Venta, naming Trade Wind Investments, Inc. S.A. the governing body assigned with the authority to enforce said covenants. It is agreed that an authorized Attorney for Trade Wind will create this clause and furnish it to the seller’s/buyers attorney, and this clause will be used “verbatim” in the Compra Venta. It is further agreed that a representative of Trade Wind Investments, Inc. S.A. will have an opportunity to review all sales contracts for accuracy prior to signing by the parties involved, & Trade Wind will be furnished a copy of the Compra Venta by the buyer within 24 hours of the date the Compra Venta is signed.
20. Lot owners agree to keep noise pollution to a minimum as is reasonable and customary in a residential neighborhood.
21. No signage of any kind may be placed on the lot, whether for business or personal use, with the exception of one “For Sale” sign in the event the lot owner elects to sell their lot. In the event the lot owner elects to sell their lot, one sign measuring no more than 16 inches by 24 inches may be placed on the lot and is limited to the following information: For Sale-Owners Name (or realty company name)-phone number-email and/or web site address. Any “For Sale” sign placed on a lot must be removed within 5 days of the final closing of that sale. All “For Sale” signs must be approved by an authorized representative of Trade Wind prior to installing on the lot.
22. Prior to any building of any kind, including but not limited to house, bodega, storage areas, etc. lot owners must obtain a proper building permit for all construction from the Utila Municipality and furnish a copy of the building permit to an authorized representative of Trade Wind Investments, Inc. S.A. prior to any construction. In addition to said permit(s) an authorized representative of Trade Wind Investments, Inc. S.A. must also approve all building plans prior to construction as outlined in item # 7 and no building of any kind will commence until all permits are obtained and all plans approved by an authorized representative of Trade Wind Investment, Inc. S.A.

Important Please Read Carefully: The above “Conditions of Sale” are for the protection and security of each property owner, and will help insure the future value of all Trade Wind Properties. All property owners will be asked to adhere to all the conditions contained herein at all times. Before agreeing to the above covenants, please read them carefully.

Rev. 30-Oct-2006