Updated November 11, 2014 - Thanks to Alraris for making me aware the logs were not working for businesses.
You find this item under Knowledge/Misc for $50. Sims chop wood to gain body skill, enthusiasm in nature and fun, they also, earn logs which go into their inventory, each set of logs may be sold for $100. Their energy, and hygiene are reduced while chopping the wood. Body temp and fitness increase. After 8 times of chopping wood, the fallen tree will disappear.
The Palm Tree textures are pulled from EA's Palm Tree.
Custom Sound and animations.
Note: If you have my fallen birch tree you may remove the hatched and sound files as you do not need two, but having duplicates does not cause a problem.
This Palm Tree works the same as my Birch Tree as seen in the following video.