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3. July 3, 1996: Tentative Subdivision Approval issued for revised Subdivision Application No. 90-189 fora 121-lot subdivision. The pending subdivision does not exceed the 106 agricultural lots as limited by Condition C of Change of Zone Ordinance No. 94-78. The additional 15 lots are for the golf course and its related improvements, archaeological, utility, road and other related infrastructural lots. Based on the effective date of the rezoning, which is July 3, 1996, and in accordance with Condition C of Ordinance No. 94-78, Final Subdivision Approval shall be secured by July 3, 2001. 4. December 9, 1997: Planning Director grants administrative extension of time until December 31, 1998 pursuant to the Community Benefit/Impact Fee requirements Agreement, to complete full construction of the proposed facilities as required by Special Permit No. 863, Use Permit No. 74 and Condition M of Change of Zone Ordinance No. 94-78. A condition of this agreement permitted the partial opening of the golf course on January 1, 1998. 5. June 25, 1998: Effective date of Agreement executed between the applicant and the Planning Director for the interim opening of the golf course and the deferral of pertinent conditions of Change of Zone Ordinance No. 94-78, Use Permit No. 74 and Special Permit No. 863 subject to terms outlined in Agreement as follows: a. $1 million would be satisfied through the provision of the community park and improvements thereon before December 31, 1998. The estimated cost breakdown of this contribution was established at: 1) 5 acres of land (5 x $125,000/acre $ 625,000 2) Site Work $ 100,000 3) Community Facility (includes fire house) $ 250,000 4) Roadway Improvements $ 200,000 5) Water and Electrical System $ 50.000 Total $ 1,225,000 b. The remaining $2 million would be paid out of escrow to the County of Hawaii in conjunction with the sale of each lot. Based on 1001ots, this would be -2-