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( <br /> property, as aforesaid; and that the Grantor will WARRANT and DEFEND the same unto <br /> <br /> the Grantee against the lawful claims and demands of all persons, except as aforesaid. <br /> The rights and obligations of the Grantor and the Grantee shall be binding <br /> upon and inure to the benefit of their respective estates, heirs, personal representatives, <br /> successors, successors in trust and assigns. All obligations undertaken by two or more <br /> persons shall be deemed to be joint and several unless a contrary intention shall be clearly <br /> expressed elsewhere herein. <br /> The conveyance herein set forth and the warranties of the Grantor <br /> concerning the same are expressly declared to be in favor of the Grantee, its successors <br /> and assigns. <br /> The term "Grantor" and "Grantee," as and when used herein, or any <br /> pronouns used in place thereof, shall mean and include the masculine or feminine, the <br /> singular or plural number, individuals or corporations, and their and each of their respective <br /> successors, heirs, personal representatives and assigns, according to the contextthereof. <br /> If these presents shall be signed by two or more grantors, all covenants of such parties <br /> shall for all purposes be joint and several. <br /> IN WITNESS WHEREOF, the Grantor has executed these presents on the <br /> day and year first above written. <br /> TOWNE KEAUHOU LLC, a Hawaii limited <br /> liability company, by Towne Development of <br /> Kona, Inc., a Hawaii corporation, its member <br /> By <br /> Christopher L. Lau <br /> Its President <br /> Grantor <br /> Alii Heights, Unit 1, Ph. 1 2 <br /> <br />