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Mar-19-05 14:OT From-OOODSILL ANDERSON +9096416880 T-904 P.ia/9' F~-oos AND the Grantee is hereby advised that no representa- tion or warranty has been or are made by the Grantoz or any other person with regard to the continuing ownership or opera- tion 4z the Golf Club. Further, the Grantee acknowledges that the ownership and/or operation of the Golf Club may change at any time and from time to time by virtue of but without limita- tlOn, (a) the sale to or assumption of operations of the Golf Club by an indop¢ndent entity; (b) Cho conversion o£ the Ge1f Club membership structure to an "equity's club or similar arrangamenC whereby the Golf Club or the rights to operate it nre transferred-to an entity which~.is ownQa or controlled by its members; OY (C) the transfer of ewri®rship or control of the Golf Club La one or more affiliates, shareholders, employerts or independent contractors of the 4rantor. No consent by the Grantee shall be required to effectuate such transfer or conveY810n, AND the Grantee Hereby further acknowledges that the Grantor, its successors and assigns, as thQ owner and operator of the Golf club, mikes no guarantee or representation that any view over or aCr OSS the Golf Club Property from the granted premises will be preserved without Impairment. Grantor, its successors and assigns, as owner and/or operator of the Golf club, has no obligation to prune or Chin trees ar other land- scaping, and has the right, in its sole and Absolute dlscre- tian, to add tress and other landscaping to the Golf club property from time to time. In addition the Grantor, its successorffi and assigns, as the owner and operator of the Golf Club, may in Its sole and absolute discretion Change from time to time the looation, configuration, size and elevation of the tees, bunkers, fairways and greens of the Golf Club, the Grantee acknowledging that any such additions or changes to the Golf club property may diminish or obstruct any view from the granted premises, and that the Grantee shall not be entitla8 to any express or implied easement for view purposes or for the passage of light and air aver or across the Golf Club property, AND the Grantee, for the Grantns and the Grantee's heirs, devisees, personal rapresentat i_ves, successors and assigns, acknowledges that the granted premises are subject to Sate Restriction Easement and hereby covenants and agrees that said Site RestYlctlon £asefient shall at all times ba maintained to preservo the view plane across the site Restriction Easement for traffic purposes along and Roads, The Grantee, for the Grantee anc~-~- the Grence e'°_ h~ rs; dsvy~ee3, personal represeq~~tSves, sue- cessors an? assigns, further Covenants and agrees that, except as otherwise spzcifically aPAroved by the County of Hawaii Department of PcA1ie works, said Site Restr=ction Casement I shall be improved only with landscaping and fences and hedges not exceeding ttirty-six inches (36") in height. The provi- sions of this paragraph sha17. be binding upon Grantee and a