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SETTLEMENT AGREEMENT FOR BOARD OF APPEALS AND SUBDIVISION OF CONTINENTAL PACIFIC, LLC LANDS BOARD OF APPEALS ('BOA") BOA 01-23 TMK (3) 2-7-07:01 and (3) 2-8-04:01 mauka lands at Kainole Camp / Maukaloa Camp BOA O 1-31 TMK (3) 2-8-07:01 makai lands at Pepeekeo Mill Village BOA 01-32 TMK (3) 2-8-08:03, 05 and 12, makai lands between Pepeekeo Mill and Honomu Village at Kahua BOA 01-33 TMK (3) 2-8-09:01, makai lands at Pepeekeo Mill and Honomu Village at Kapehu, Kaupakuea, Kahua 1 and Kahua 3 Continental Pacific LLC - "Continental Lands": Makai Lands: TMK (3) 2-8-07:1, 05 and 53 TMK (3) 2-8-08:01, 03, 05, 12, 13, 14, 16, 17, 19 and 32 TMK (3) 2-8-09:01 Mauka Lands: TMK (3) 2-7-07:01 and 12 TMK (3) 2-7-09:16 TMK (3) 2-7-10:03 TMK (3) 2-8-04:01 TMK (3) 2-8-09:03 and 09 I. SETTLEMENT AGREEMENT In consideration of the rights, obligations and duties herein, this letter memorializes the settlement agreement ("Agreement") reached between the County of Hawaii and its Planning Department ("County of Hawaii or "County") and Continental Pacific, LLC ("Continental') relating to the subdivision of the Continental Pacific, LLC lands at Hamakua described herein ("Continental Lands"). A. This Agreement is in compromise of a disputed claim in which the Board of Appeals recognized certain pre-existing lots within the Continental Lands, and that the County continues to dispute. This Agreement fully and finally settles all issues relating to all pre- existing lots of whatever type within the Continental Lands, Special Management Area (HRS Chapter 205A), Public Access (HCC Chapter 34) and Subdivision (HCC Chapter 23) obligations asserted by the County over the subdivision of the Continental Lands. Continental, for itself, its heirs, successors, and assigns, in settlement of this claim, hereby agrees that this settlement 2019077.1.054151-00002 4/12/2002 13:11