Progress Reports - 2008

Cerros Sands Ltd. is pleased to announce during the:

Fourth Quarter 2008

The crew working on the maintenance completed their work. We will be finding other projects to keep them busy after the holidays. This year we had quite a bit of rain, which delayed completing maintenance program. One of our contractors has been given some other projects to beautify our site. Our 1st berths are being excavated on the channel.

A 2 Bedroom and 2 Bath Condominium has been designed for the Resort Parcel on the South End. This 1200 interior square foot home includes a lockoff option. A 1350 sqaure foot model is also available. Pre-Construction pricing is in effect for the 1200 unit.

$117,770 for this Beachfront Condominium.

Third Quarter 2008

The annual land maintenance program is continuing. Addittional excavation work has taken place along the main entry of the channel. Several parcels have been filled to owners specifications.

Second quarter of 2008

A bid was accepted and excavation work will take place into the 3rd quarter along the channel’s main entry. To perform some of the smaller jobs an excavator was purchased. This unit will be used to excavate boat slips and other miscellaneous projects around the community.

An additional bulldozer was brought in to move most of the soil removed during the excavation work behind parcels 775-787. Numerous parcels have been filled and compacted.

The annual clearing of the beachfront, beachview and 1st row of channel parcels is just about complete. Their next area of concentration will be around the main entry. 400 Coconut trees have been purchased and are being planted.

Additional construction bids have been received for 4 of the designs created by Mitchell & Moody architects in Belize City.

Our designer Floyd Harley has incorporated some changes in our overall plan and these now appear on the website, including as mentioned previously the Marina component has been moved further inland away from the main channel entrance.

Construction inquiries have been brought forward, that do not meet the minimum square footage requirements for the R-1 parcels. As the resort parcel on the South End is still available (with almost 500 foot of beachfront), this parcel is being considered for a few options.

First quarter of 2008

We now have approved more home plans ranging from 1400 to over 2500 square feet. Central Construction Ltd. is preparing the final bid for the designs of Mitchell and Moody. These homes will be self-sufficient with their own power, water and sanitation systems. We hope to break ground later this year. The annual clearing of the parcels is upcoming. A crew has been hired and has begun this maintenance program.

A revision to the master plan for Cerros Sands was adopted. The Marina component has been moved further inland away from the main channel entrance. Numerous considerations were taken into account, such as fueling, boat haul out, and parking. This will also allow us to expand the Marina Area to meet increased demand. With this change additional changes may occur in this area as a result of this relocation.

The entire beachfront area in phase 1 will now be single-family (R-1) homes with the exception of the resort parcel on the south end and the bed and breakfast on parcel 25 and 124.

The parcels abutting the main channel are now Estate parcels of 1/2 acre and up. Two parcels are just less than 1 acre with beachfront and over 150 feet of channel frontage. Six estate parcels in all have been created. Only one of the larger parcels is available.